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A beneficiary is a person or organization that benefits from a will , trust , retirement plan , insurance policy , ann uity , financialtransaction or another arrangement. Select the option for third-party transfers or fund transfers. Once the beneficiary is activated, the funds are transferred to the specified account.
Knowing how corporate accounting works and its role in facilitating the growth of a business is important because it plays a fundamental role in the smooth functioning of business financials. Corporate accounting refers to the process of recording a company’s financialtransactions. What is Corporate Accounting?
Offering a broad range of services, from mutual funds to intra-day trading and derivatives, Rupeezy needed a payment partner who could handle the complexities of financialtransactions. SEBI requires every transaction initiated by a customer must be made from their registered bank account. The Hurdle? Get In Touch!
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You must be familiar with the term ‘IFSC Code’ if you have transferred funds to another bank account. It ensures that the funds are transferred to the correct bank account and avoids any errors or delays in the process. IFSC helps track and monitor your transactions, thus reducing the risk of fraud or misuse of funds.
It helps identify the availability of liquid funds with the organization in a particular accounting period. Thus, it accounts for a company’s financial standing and reveals the corporate efficiency in managing its cash and liquidity position. Since cash provides liquidity, it is decisive for the survival of a business.
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