Thank you for paying email

Getting an invoice paid on time feels pretty great. You appreciate your clients’ attention to the due date, because it helps your business to maintain a consistent cash flow. You also know how difficult it can be to track down late payments, as well as the amount of work that can go into that task. Prompt payments are a boon to your profitability as well as your own time. And according to research, a simple ‘please’ when it comes to invoice reminders, and ‘thank you’ when the bill is paid can increase the percentage of paid invoices by more than 5%! (more…)

Invoice reminders

Have you been wondering what sorts of benefits your company would get out of invoice reminders? Maybe electronic invoicing is new to you, or perhaps you already use it to outsource some of your financials and are unsure of how to implement reminders? Are you worried about the effect of how these prompts will affect your existing customer relationships? (more…)

Invoices: Expectation vs Reality

Invoicing

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…)

Four Common Myths about Electronic Invoicing

electronic invoicing

Small and medium sized businesses who use automated invoicing and build close working relationships with their clients will be more successful and have significant savings. That’s a bold claim, but consider the 90-95% reduction in paperwork and 25% improvement in productivity that happens when you use e-invoicing, and you will begin to understand how outsourcing your accounts receivable is the way forward. Invoice processing technologies are paving the way forward, substituting old and outdated accounting solutions and revitalizing them. Don’t let your business fall behind. (more…)

Invoice Tracker: Why Xero Users Love It

Invoice Tracker + Xero

Already using Xero for your accounting needs? Excellent choice! Xero’s time saving tools have likely helped you to free up space in your business, and get you the accurate results you need with features like invoicing, inventory, and fast bank reconciliation. Now that you’ve seen the benefits of tracking your invoices, it’s time to consider doubling up on the ingredients that help drive profitability and growth. (more…)

QuickBooks Invoice Tracker

Did you know that 60% of invoices are paid late? This chart from the Smart Company details average payday data for 19 countries across the globe, and clearly shows that the vast majority of customers worldwide are late with their payments. Even large firms are going past their due dates, with more than a quarter of their invoices being paid late. This can be catastrophic for small and medium-sized enterprises trying to stay afloat. And with the average time to pay at 38.97 days, and more than a quarter (27.26%) of those invoices paid beyond the agreed terms, how can businesses work to combat these troubling statistics? With 15.25% of UK invoices being paid later than 60 days, smaller companies need payment certainty. Knowing when your payments will arrive is crucial to achieving balanced cash flow. (more…)

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