Recording financial transactions accurately and consistently is crucial for ensuring a company's financial fitness. However, various challenges can arise when it comes to bookkeeping. These can include keeping up with the volume of transactions and regulations, managing cash flow, and reconciling accounts.
At Pesapal we understand that working capital is crucial for the running of your business. Gone are the days when bookkeeping involved cash transactions that took longer to be approved and ended up delaying service delivery. Openfloat solutions digitize petty cash, payroll, and corporate bills allowing you to focus on service delivery and customer satisfaction. We simplify your company’s spend on bill payments, travel, and cash management. You can disburse funds and pay airtime in bulk all in one platform.
Openfloat presents a wallet for businesses to handle everyday expenses needed to run their operations. Top up your account and conveniently make bill payments. In addition to this, you get 24-hour customer support to allow you to focus on growing your business. Let us look at the features which simplify bookkeeping on Openfloat.
Openfloat by Pesapal simplifies bookkeeping as it offers a user-friendly interface with automation features that are guaranteed to reduce payout errors. Automation enables you to categorize transactions into revenue, expenses, assets, and liabilities thereby saving time while managing your records on a single platform. You can make direct disbursements to suppliers, employees, and vendors without leaving the platform, thereby improving efficiency.
Accounting and reporting.
With Openfloat, you can generate your business profit and loss statements, balance sheets, and cash flow statements. These reports help you make informed decisions and track the financial performance of your business. The accounting feature allows you to review activities arising from transactions and accounts thereby discouraging fraudulent behavior. Improving the accuracy of financial records and cash flow management gives your business a competitive edge in the industry you operate in.
Users access control.
Openfloat dashboard allows you to create users with different approval rights and reduce mismanagement caused by making unauthorized payouts. With access control and a maker-checker process, the platform ensures users maintain the integrity of payments. Openfloat allows you to collaborate with others to manage your company finances. You can grant them access to your data and work together in real-time and only approve transactions that are important for business continuity.
Traditional bookkeeping involved manual bureaucratic processes that mostly needed to be handled at the office. Openfloat is cloud-based, which means you can access your data from anywhere with an internet connection. This makes it easy to manage your finances remotely on the go on your mobile devices.
Take advantage of the convenience that comes with signing up for the Pesapal Openfloat solution and focus more on improving customer experience, curbing fraud and improving your business bottom-line.