One of the most important parts of any business is cash and the management of cash. A key part of cash management is keeping control of your customer balances, or Accounts Receivable. When you fail to diligently manage your accounts receivable, you put your business in jeopardy. Your accounts receivable are responsible for your cash flow, which is used to pay your debts, grow your business, invest in technology and capital assets. It is the life blood of a company.

Along with accounts receivable processing is the actual billing of customers to create your accounts receivable balances. Customer billing should be consistent, timely, and well communicated.  

One of the most important financial ratios is called accounts receivable  days. It’s a number you should measure and monitor. We will monitor this for you and if we see a substantial change in the wrong and monitor. 

Cash is so important. And one of the big benefits of a cloud accounting system is the ability to keep on top of your cash and bank balances, on top of your accounts receivable (i.e. who owes you money) and get paid easier. There are now so many easy ways to manage accounts receivable and get paid automatically (e.g. online payments and recurring automated payments) and so many ways to integrate this into your system.

Our Enhanced credit control service will identify all the options available to your business to help you get paid quicker and have more money in your bank account. We will also review outstanding invoices with you, advise on your terms and conditions of business, advise on your options for recovering outstanding accounts receivable, consider the need for write-offs and bad debt.