Cash Management Overview
Cash management is the process of collecting and managing cash flows.
Cash Management refers to a broad area of finance involving the collection, handling and usage of funds.
Banks in regard to cash mangement refers to financial institutions where funds are deposited and reimbursed.
Cash management is important as companies have a magnitude of cash inflows and outflows that must be prodently managed in order to meet payment obligations , plan for future payemnt and maintain adequate business stability.
Foundry Bean Global Work System helps businesses to understand their cash positions, record cash outflows and inflows , reconcile cash balances and internal control. It includes cash received from accounts receivable, cash paid for accounts payable , cash earned from bank deposits or cash incurred from various charges.