Send us a textHow hard could managing your business bank accounts be? Just run your EFT, receive your statements, and match your transactions. Right? Well, bank account management could get extremely nuanced as well. For example, if you are not set up positive pay, your accounts could get locked down for several days. Sure, you will get your money back if you have had a fraudulent transaction. But the money might not be available for months. So what do you need to know to set manage your bank accounts?In today's episode, we invited a panel of cross-functional experts for a live interview on LinkedIn who brings significant expertise to discuss Bank Account Management best practices. We discussed bank accounts management concepts such as the right mix of chart of accounts for each bank account, the importance of sub-ledgers, and the challenges during audits without the processes for cash hygiene. Finally, we discussed horror stories covering concepts such as the disappearing of cash and using ghost employees to reconcile bank accounts.For more information on growth strategies for SMBs using ERP and digital transformation, visit our community at wbs.rocks or elevatiq.com. To ensure that you never miss an episode of the WBS podcast, subscribe on your favorite podcasting platform.

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