Ascentis TV – Episode 7
Welcome to the June edition of Ascentis TV, in this episode of Tech Talk, Lee Kaznowski meets with Ashley Barker from Sitago to discuss avoiding bad debts. They start by introducing Sitago and how it is a one-stop cash management solution that covers everything from credit control to alternative finance, credit searching, and risk insights.
Ashley explains that their risk insights are helping customers analyse their customer database and identify debts that are at risk of not being paid. This is especially important because of the current pandemic crisis, which is leading to an increase in bad debts. Sitago provides notifications when changes occur in the debtor’s credit report, and customers can adjust payment terms or concentrate on the debt to ensure payment. The video includes a demonstration of Sitago’s risk analysis tab, which automatically populates information by connecting to the Xero software. The demonstration highlights how the risk analysis tab provides insights into debts that are at risk of not being paid, and customers can take steps to address those debts.
The second part of the episode covers two stages of preparing a cash flow statement. The first stage involves putting the assets and liabilities in one long row and introducing a movement column to show the missing amount. The second stage involves allocating the movement column into those items that relate to operating profit and those that relate to the balance sheet. Fixed assets, depreciation, and other expenses are also explained.
About Ascentis TV
Ascentis TV is our update show that gives business leaders updates and insights on various growth-related topics such as taxation, financial management, people management and much more. The show features our amazing experts from Ascentis who have many years of experience in helping businesses grow successfully and helping individuals achieve their personal vision of success.
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