Monthly Banking
and Cashier Service

Why Cashier Management is Important to Your Company?

Cash management refers to the process and system of collecting and managing cash flows, which can be of great importance for both individuals and companies. A well-designed corporate cash management system indicates the health of a company’s financial stability in business.

Cash is the primary asset that companies use to settle their debt obligations and pay for their operational expenses, such as taxes, employee salaries, marketing costs, etc. Taking care of the inflows and outflows of cash on a daily basis is the core component of financial management while proper cash management improves the company’s financial situation and liquidity problems. In addition, when considering creating and sustaining a company’s financial stability, well-managed cash flow helps to maximize potential earnings and impacts future growth.

Most of the time, cash management can be integrated with your company’s online banking. With fully integrated monthly banking, business administrators of your company gain access to funds every single day without facing the risk of a broken cash flow chain.

Why Do You Need Cashier Management and Monthly Banking Service?

Managing the cash flow of your company needs a systemic solution while taking some of key factors into consideration:

• Period of accounts receivable (AR) in average;

• Accounts collection processes;

• Write-offs for uncollected receivables;

• Liquidity and rates of return (RoR) on cash equivalent investments;

• Level of available operating cash;

• …….

Designing a customized cash flow management procedure just for your own company by hiring an accountant and a specific professional in-house team can be expensive, putting extra pressure on your finance and human resources management system and costing your valuable time and energy dealing with banking and cash-related activities. That’s why Hongda’s cash management and monthly banking service can be your optimal choice!

• Simplify cash management: Our service enables you to consolidate your cash management activities, including deposits, withdrawals, and transfers, all in one place.

• Enhance financial control: Gain better control over your cash flow with our robust reporting and analytics tools. Get access to real-time information to make wise and data-based financial decisions.

• Time-Savings: By outsourcing your banking and cash management to Hongda, you can free up your time to focus on core business functions, such as sales, customer service, and growth strategies.

• Expert Support: Hongda's team of banking professionals is here to assist you with any inquiries or concerns you may have so that you can surely benefit from their expertise and industry knowledge.

What Are Included in Hongda's Monthly Banking and Cashier Service Package

1. Arrange payment to local suppliers and office expenses, etc.

• Arrange and process payments to local suppliers and office expenses for your company.
• Ensure the accuracy and timeliness of the payment process to avoid delays or erroneous payments

2. Handle bank reconciliation.

• Regularly compare your company's bank accounts with your financial records to ensure consistency.
• Verify discrepancies between bank account balances, transaction records and financial statements to identify and correct potential errors or omissions.

3. Handle salary payment to local employees.

• Ensure that local employees are paid on time and accurately.
• Handle payroll calculations, tax deductions and social insurance to ensure compliance with local regulations and requirements.

4. Handle foreign currency operations in the bank.

• Foreign exchange and settlement services for your company.
• Handling foreign currency exchange, cross-border payments and foreign exchange risk management.
• Provide advice on exchange rate fluctuations.

5. Cash management and forecasting.

• Help your company effectively manage cash flow, forecast and plan for capital needs.
• Analyze and monitor cash inflows and outflows to ensure the adequacy and proper use of funds.
• Provide cash flow forecasts and recommendations to support your financial decisions and strategic planning.

6. Account opening and management.

• Assist your company in opening and managing bank accounts.
• Provide advice on different account types and options to meet your specific needs.
• Manage transactions such as account information, authorization signatures and access rights.

7. Electronic banking services.

• Introduce and recommend e-banking products and solutions suitable for your company.
• Assist you in setting up and using online banking platforms, e-payment and e-banking systems, etc.
• Provide training and support to ensure you take full advantage of the convenience and benefits of e-banking services.

8. Risk management and compliance support.

• Provide advice and support on risk management and compliance requirements.
• Assist in the development and implementation of internal controls to mitigate risks and prevent fraud.
• Ensure that your company complies with local financial regulations and banking policies