The ledger and the close — where numbers stop being opinion
How automatic postings replace manual journals, the two reconciliations that decide whether you can trust the figures, and a close cut to three days.
Business cycles
Procurement, sales, inventory and the ledger.
Inventory and costing — margin is decided before you sell
Five stages from receiving to dispatch, why cycle counting replaces the annual shutdown, and the costing method that changes your reported profit.
Order to cash — the sale is not done until the money lands
Opportunity, quotation, sales order, delivery, invoice, collection — plus the stock reservation and credit check that stop a bad order before it ships.
The procurement cycle — five documents and a three-way match
Procure-to-pay in five documents and the check that refuses to release a payment. From a client whose material cost ran at 80% against a norm nearer 60%.