Routine finance functions/ Daily financial functions







 

Routine finance functions/ Daily financial functions 

 

Routine finance function means that types of function which is done daily activities according to routine. These types of functions are necessary to managerial finance functions like decision making and planning. The main routine finance functions are given below: 

 

I. Supervision of cashflow  

 In these functions, cash transactions activities are done to manage cash. Cash in flow, cash out flow, cash balance, receivables, payables are main functions of supervision of cashflow, which is necessary to protect Cash. 

 

ii. Safeguarding Assets and documents  

 Protection of different financial assets and documents are the routine function of finance, like shares, Debenture, bonds, Insurance and other important documents. 

 

iii.  Recording of financial activities 

 In the Business organization, there are many financial transactions are done like selling and purchasing, different expenses paid, different income received. In this way these transactions are recorded regularly and scientific way by financial sector. 

 

iv. Financial Reporting 

 Financial reporting means make a report of financial transactions in a certain time period, which is necessary for top level of management. The financial report is prepared from daily transactions of financial activities. 

 

V. other routine functions 

 Besides above functions debtors, creditors, debt and loan etc. are also routine functions of finance. 

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