Businesses will often have to make payments regularly for expenses such as employee salaries, vendor payments, and others. One of the effective ways to manage these payments is by having multiple payment accounts for different operational purposes. With that in mind, Januar is pleased to announce the availability of multiple payment accounts.
Andreas Keinicke
·
May 30, 2023
We are excited to be launching yet another new important product feature. And it's already live.
Businesses will often have to make payments regularly for expenses such as employee salaries, vendor payments, and client payment operations. One effective way to manage these payments is to have multiple payment accounts for different operational purposes. With that in mind, Januar is pleased to announce the availability of multiple payment accounts.
Improved cash flow management
When you have separate payment accounts for different purposes, it becomes easier to manage your cash flow. For example, you can keep separate accounts for payroll, vendor payments, and other operational expenses. This helps you to keep track of the funds allocated for each expense, preventing any confusion and ensuring that you have enough money for all expenses.
Simplified accounting and tax reporting
Having separate accounts for different purposes helps you to accurately track your expenses and income. This simplifies your bookkeeping and accounting processes and makes it easier to generate accurate tax reports. Additionally, it also makes it easier to identify any discrepancies or errors in your financial records, which can be rectified quickly.
Enhanced transparency
Having multiple payment accounts can also help enhance transparency in your financial transactions. By allocating specific accounts for different purposes, it becomes easier to identify the source and purpose of each transaction. This makes it easier to track your business expenses and income, which can help you make informed financial decisions.
In conclusion, having multiple payment accounts for different operational purposes is an effective way to manage your business finances. It not only improves cash flow management but also increases security, simplifies accounting and tax reporting, and enhances transparency in your financial transactions. So, if you haven't considered having separate payment accounts yet, now is the time to do so.
At Januar we are constantly working to enable seamless payment workflows for better business operation. Multi-Account supports exactly that and we have a lot more coming. Feel free to reach out to our team for more information.
We’ll set up a meeting with one of our Januar Experts and talk you through the process
