One of the prime issues faced by the accounts department is that of fraud. It hampers the working and profitability of the business.The accounts payable process helps improve relations with suppliers of materials required for the functioning of an organization.
Accounts Department holds a key position in an organization, maintaining every day and yearly accounts. This department is also responsible for managing the profitability of an organization. Without this department, all other departments cannot function properly as cash flows through it.
The manufacturing and trading industry is a leading contributor to the US economy. Steel, Machinery, chemical and airplane manufacturing sectors are key contributors in Manufacturing Industry.
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