Question

Answer the following questions:

Identifying and maintaining vendors is important for all businesses and just as important is paying those vendors in a timely manner. How might interactions with vendors that you might not see impact your dealings with them?

Online banking is becoming the norm in the business community. How might this change the opinion of business owners who do not want to deal with technology? How would you explain the value of online banking to a business owner who doesn't understand the basics of accounting, including paying vendors with electronic payments instead of paper checks?

Answer 1

1.

As said in the question identifying and maintaining windows is very important for any type of businesses.

Expression for the above given statement is as follows :-

1. Vendors of the suppliers of the organisation. Supplies main supply the goods on credit basis and some suppliers main supply on cash basis.

2. Maintaining good relationship with vendors gives good credibility and the vendors may extend more credit period to the organisation.

3. Extension of credit period gives more flexibility in usage of financial resources of the organisation. dost financial resources can be invested in any type of activity to get more income or profits.

Timely payment to the vendors is also very important along with maintaining good relationship with vendors.

1. Timely payment will results to increasing in reliability on our organisation by the industry.

2. If we make timely payment to the suppliers they will give us an extra cash discounts which helps us to reduce the cost of our product ok to increase profit margin on our products.

these are all the information regarding question 1.

2.

Yes, after implementation of new tax policies and monetary policies the importance of banking and internet banking is increased drastically.

as per rules and regulations of the economy we have to do every transaction through Bank only. Then it is not comfortable to reach bank for each and every transaction so that is the reason we have an option to use internet banking.

Usage of internet banking reduce strain of a person.

By using internet banking we can save our time from going to bank and having physical transaction.

Is once rehab equated to the internet banking there is no need to to go to the bank physically for any of the transactions or any of the work related to the banking.

There are some people who may not wishes to adopt the changes in technologies and they a usually go to bank and do the banking transactions rather than using internet banking.

birds the persons who are in that perception once if they are get a clarity about the usage of internet banking and the benefits of internet banking they also start using internet banking for which we have to say the following reasons to them :-

Internet banking reduces customer of the bank

Internet banking is very comfortable to use and there is no risk in usage of internet banking if at all the bank provides a good security the customers.

By using internet banking we can reduce the cost of physically going to the bank and having a banking transaction.

so by all the levels explanations by using internet banking we can reduce our stress we can reduce your cost and we can do many things from only one place.

If all the above given reasons are said to the people who are not wishing to to use internet banking they will also start thinking about the usage of of internet banking if there is any person who will provide guidance to them then they will also eventually have it with the use of internet banking.

Persons who does not having knowledge of accounting can also use internet banking and the reasons that attract them to use internet banking as follows :-

1. As per new monetary policies in tax policies every transaction above a certain limit should be done through Bank only.

2. if we use internet banking or electronic payments for payment to vendor, there is an evidence in bank records that specifies that a particular payment is done by one person to another person for a certain amount it can be useful in future of the organisation if there is any dispute between vendor and organisation.

3 . By using internet banking female get some reward points or or offers it can be usable in our daily life.

4. Payments to the vendors with paper cheque they have to physically visit the bank and deposit the cheque and have to get money from the bank which involves a lot of physical work and time of a particular person but in the usage of of electronic payment there is no need to visit to the bank and there is no stress to payee and payee.

5. by sitting at one place we can make many transactions any payments and receipts from vendors to the customers in a simple and easy manner by using internet banking.

By this reasons every business people will try to you have a knowledge of internet banking if there is any person ready to guide them at any time at any place then automatically those people also uses internet banking.

These are all the information about the question 2.

These are all the information required to solve the above two questions.

I hope, all the above given information explanations are useful and helpful to you.

Thank you.