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…)
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…)
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…)
The concept of billable hours is changing with the times we live in. Clients are no longer charged based on estimated time, and employees are increasingly working outside of the traditional model, where wages and hours are static. Increases in both inflation and running costs means that businesses today need to make sure that they are keeping up with the pace of technology to keep their profitability and cash flow high. (more…)