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Companies that have a very large customer and suppliers base often find it difficult to optimally manage their ledgers with the risk of making mistakes in customers and suppliers closing. This means that companies must spend time and resources to verify which collections or payments have to be made yet and which are still to be registered in accounting.
Mago.net through its automatic procedures facilitates enterprises to manage properly the customers and suppliers ledgers, allowing to keep under control their credit and debit exposure and encouraging an increase in business efficiency.
Everybody knows that Mago.net with its multiple functionality provides the possibility to use the clearing in order to close receivables or payables simultaneously from the journal entry of collection or payment…but maybe not everyone knows that it is also available an automatic procedure to close receivables and payables massively.
“..every company has its own modus operandi”
The procedure of customer/supplier closing can be easily adapted to different business needs because it allows to select the type of closing choosing between normal closing or rebate, the type of payment to be proposed on the closing installment and the offset to be used in the accounting entry.
But advantages of Mago.net do not stop here…the payables/receivables closing procedure, through simple filters and selection criteria, makes it possible to extract precise installments to be closed and to automatically post their closing in accounting in order to reduce time and risk of errors.
For further information about this topic you can ask to your referral or visit our on-line Microarea Help & Information Center.
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