Clerical errors are unfortunately common, but they can be avoided if you have the information you need to actively prevent their frequency. These mistakes can be costly, either with minimal effect and relatively easy corrective measures, but some are very serious, with considerable impacts which can affect your business for a long time. (more…)
Your small or medium sized business can suffer quickly, with long-lasting repercussions, if even one payment is missed. Your cash flow depends on a steady stream of reliable payments from your clients. How do you know when it’s time to hire a collection agency to deal with your outstanding invoices, and what sorts of things should you be doing before that step is even considered? You have legitimate receivables that need to be collected for the sake of your company’s financial health, and a collection agency is a great option when you can no longer do it yourself. (more…)
Invoicing is a task that can feel tedious and perhaps seem so straightforward as to not need a lot of attention. After all, it’s a standard task, and everyone has to do it, no matter how cumbersome. What’s the big deal, you might wonder. But businesses of all sizes need to understand how crucial this piece of operations really is, especially in terms of positive cash flow.(more…)
Have you ever found yourself confused and frustrated when dealing with bookkeeping? Arguably the most crucial departments in a business, the process needs to be smooth.
Accounting is one of the basics in a business, and certainly one of the most important areas to master if you want to run a successful firm. Checking and analyzing your firm’s financial information can feel daunting, and can bring extra costs and stress. Among business owners, it is one of the most hated tasks! So stop dreading the accounting process, and think seriously about automating your accounting business with some or all of the tasks associated with bookkeeping. (more…)
Accuracy in receiving, verifying, and tracking invoices is crucial for maintaining a positive cash flow for your business. These processes can be complicated, prone to human error, and lead to delays from the first step to the last. Maintaining financial accuracy can present issues for your company even if your staff is well-trained and organized. Often, the expectations for your accounts receivable don’t match up with reality. (more…)