Bookkeeping is one of the most dreaded tasks in an organization. Managing the accounts receivable might seem pretty easy when you have clients who always pay on time or as and when decided. Traditionally what you do is make your customers aware of the payment process, the terms and conditions. Next, you raise an invoice, highlight the due date, and expect the payment on or before the said date.
For clients who stick to your nose and often pay late, creating invoices and sending reminders until you get your dues cleared is cumbersome. It roads to a shortage of cash and you might even end up risking business continuity. Hence the need for a sound system that can keep eyes on the account receivable, helping mitigate all possibilities of cash shortages.
An account receivable tool isn’t just an automated system that sends you an alert every time a client misses the due date. The tool has a lot more to offer enabling you to keep your business activities unaffected.
Delayed invoices often lead to late payments. With a system that runs without human intervention, sending invoices can be automated. The account receivable tool can be customized to send the document properly and on a predefined schedule. This helps avoid any delays and get paid on time.
Sending Invoices is just the first step. To keep the flow of the system, it is important that you keep track of the invoices sent and the payments received against it. While doing this manually would consume time, the tool can be used to process the above itself and raise flags for customers who are yet to initiate payments. The tool can further be configured to send notices once the due date has passed.
Account receivable tools can be easily integrated with QuickBooks so as to automate the process of creating invoices. Where the manual operation is prone to committing errors, the integration facilitates the creation of invoices faster and better.
As mentioned above, the tool can be used to automate the process of generating invoices and sending it to the client. In addition to this, the tool can also be set up to send followup emails and messages reminding the customer about the dues.
Stridely Solutions is one of the leading organizations that provide support in setting up the tool within any organization. We have years of experience in consulting and integrating the right solution for the right business. In case you are looking for a similar solution, get in touch with us and let us help you.