AccountKit’s Post

🤯 You’ve got clients to manage and decisions to make. But every month, inter-entity loan reconciliations drag you into a time-consuming cycle of spreadsheets and double-checking. It’s why this feature is one of our favourites—and the founder’s top pick. Before AccountKit, reconciling loans took many, many hours every month, where he would export transaction listings to Excel, manually match entries before post-correcting journals across a chain of related entities. These days it’s less than 5 minutes and it makes him smile every single time, it never grows old! Download the Inter-Entity Loan Reconciliation guide and see how automation can work for you: https://hubs.li/Q02ZLYVQ0

As accountants and banking professionals, we know how crucial it is to keep an eye on loan balances to prevent them from becoming non-performing loans (NPLs). I've created a 5-minute video tutorial that shows you how to build a Loan Follow-Up Table in Excel. This simple yet powerful tool uses conditional formatting to help you identify and address outstanding loan balances before they become a problem. The dynamic notifications ensure you stay ahead, making loan management easier and more efficient. Watch the video and see how this spreadsheet can transform your loan tracking process. It's a method that earned me praise from my boss, and I hope it can help you too! ℹ You can download the free spreadsheet under Free Downloads on my Portfolio Website or by scanning the QR code in the video. #Banking #Accounting #ExcelTips #LoanManagement #ProfessionalDevelopment #FinancialManagement

Define whether primary servicing or subservicing better suits your unique needs — we'll meet you there! Primary Servicing: 🔹 Accurate reporting 🔹 Timely processing 🔹 Comprehensive borrower support Subservicing: 🔹 Flexible, cost-effective management 🔹 Advanced tech integration 🔹 Top-notch customer service Let's get your focus back on your core business! https://hubs.li/Q02Nr-SC0 #lending #finance

When it comes to securing a business loan, accurate bookkeeping is essential!   Financial Transparency: Lenders need a clear and accurate financial history to assess loan repayment ability. Credibility: Organized and precise financial records demonstrate professionalism, increasing lender confidence in your company's management skills. Informed Decisions: Accurate books provide data to understand cash flow, profitability, and financial standing, which is essential for determining the right loan amount and terms. Faster Approvals: The efficiency of streamlined financial records can significantly reduce the loan application processing time, leading to quicker access to funds.   I own CreditReady Bookkeeping and bring over 40 years of experience in Commercial Banking and Financial Analysis.  My qualifications include: - QuickBooks Online ProAdvisor Certification - Harvard Business School Certification in Financial Accounting - Full professional liability (E&O) insurance coverage Concerns about the accuracy of your bookkeeping services, Visit https://lnkd.in/g8EKzb8D #SmallBusiness #Bookkeeping #BusinessLoans #FinancialHealth #Entrepreneurship #SMEs

✅ Bank reconciliation is a crucial process for small business owners to maintain financial health and integrity. There are several reasons why it's important. 𝐅𝐢𝐫𝐬𝐭𝐥𝐲, bank reconciliation ensures the accuracy of your financial records by verifying that they reflect the transactions recorded by your bank. 𝐒𝐞𝐜𝐨𝐧𝐝𝐥𝐲, it serves as a vital control mechanism for detecting fraudulent activities. 𝐓𝐡𝐢𝐫𝐝𝐥𝐲, it helps manage your cash flow by providing a clear understanding of your business's cash position. 𝐅𝐨𝐮𝐫𝐭𝐡𝐥𝐲, it helps identify and correct errors or omissions in your financial records. 𝐅𝐢𝐟𝐭𝐡𝐥𝐲, accurate bank reconciliations provide the foundation for budgeting and financial planning. 𝐒𝐢𝐱𝐭𝐡𝐥𝐲, it inspires confidence and trust among lenders and investors. 𝐋𝐚𝐬𝐭𝐥𝐲, it facilitates accurate tax reporting and compliance. By reconciling your bank accounts regularly, you can optimize liquidity, set achievable goals, allocate resources effectively, and make informed strategic decisions for the growth and sustainability of your business. #FinancialHealth #BankReconciliation #SmallBusiness #CashFlowManagement #FraudDetection #FinancialPlanning #BusinessGrowth #AccountingBasics #FinancialIntegrity #TaxCompliance #BusinessFinance #FinancialRecords #CashManagement #StrategicDecisionMaking #InvestorConfidence

Define whether primary servicing or subservicing better suits your unique needs — we'll meet you there! Primary Servicing: 🔹 Accurate reporting 🔹 Timely processing 🔹 Comprehensive borrower support Subservicing: 🔹 Flexible, cost-effective management 🔹 Advanced tech integration 🔹 Top-notch customer service Let's get your focus back on your core business! https://hubs.li/Q02RTd660 #lending #finance

Your Credit Control Process is in the frontline of cashflow management; Morley & File can help you make it as efficient and effective as possible. Even the most successful businesses may find that they have cash flow issues and credit control struggles – we all know how frustrating it is to keep chasing the same clients when they are late paying their invoices, but is your process letting you down too? Morley & File can undertake a full review of your current Credit Control processes, and will provide clear guidance on how you can improve them. In an ideal world you would benefit from having no outstanding debt – let us help get you there! 👉https://lnkd.in/eAJwCBkj 👉01279 677993 #CreditControl #CashflowManagement #DebtRecovery #BusinessFinance #ImproveCashflow #EfficientProcesses

🛑 Choosing the wrong loan servicer can lead to operational headaches, compliance issues, or worse—impact on your bottom line. We’ve created a loan servicer evaluation template to guide you through the RFP process and help you ask the right questions in these five critical areas: 1️⃣ Company Overview – Who are they, really? 2️⃣ Operations – Can they keep up with your needs? 3️⃣ Onboarding & Implementation – Will their processes align with your timelines? 4️⃣ Compliance – Are they equipped to meet regulatory demands? 5️⃣ Client Support – How will they respond when things get tough? Dive in: https://hubs.li/Q02V5pXc0 #lending #finance

Finance Tip of the Week: Why Use a Finance Broker? When it comes to navigating the complexities of securing a loan, finance brokers can be invaluable allies. Here are some reasons why you should consider using a finance broker: Industry Knowledge: Finance brokers understand the industry inside and out. Expertise: They are experts in their field, with a deep understanding of financial products and markets. Guidance: Brokers can help you through the application process, offering support and guidance every step of the way. Presentation Skills: They know how to dress and present a deal to a lender to maximise the chances of loan approval. Reliability Insight: Brokers are familiar with which lenders deliver on their promises and which do not. Client Advocacy: A finance broker works for you, ensuring your best interests are represented. At Strive Financial, we understand the importance of making informed financial decisions. For more insights and advice, visit www.strive.financial. #FinanceTip #FinanceBrokers #LoanApproval #FinancialAdvice #StriveFinancial #ExpertGuidance #ClientAdvocacy #LoanApplication #IndustryKnowledge #FinanceTips