When Should You Use a Collection Agency?
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…)
- Published in Business Growth, Cash Flow Management, Invoice Payments, Invoice Reminders, Invoice Tracking
Top Business Invoicing Concerns and What to do About Them
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…)- Published in Invoice Payments, Invoice Tracking
Tips For Dealing With Invoicing in Multiple Currencies
Selling your goods and services to other countries is a great way to expand your business. But foreign currencies can be tricky to navigate without the proper knowledge and understanding (and keeping up with) the constantly fluctuating currency values and conversions. (more…)
- Published in Business Growth, Invoice Payments
Invoices: Expectation vs Reality
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…)
- Published in Business Growth, Invoice Payments, Invoice Reminders, Invoice Tracking
Account Overdue? Here Are a Few Tips on Collecting Invoices
Getting paid on time is crucial to the cash flow of your business. Late payments are unfortunately a common issue in businesses of all sizes, and it can be complicated and time consuming to chase unpaid fees. You know that keeping on good terms with your clients is important, but also that unpaid bills need to be paid–after all, the service was provided and you have put a lot of time and effort into the finished result. You have done your part, so it can feel disrespectful when your customers have an account overdue. (more…)
- Published in Invoice Payments
Top Reasons You’ll Want to Automate Your Accounts Receivable
How can you find more time in your work day, while also being able to keep your cash flowing? Traditional methods of invoicing are tedious, prone to error, and time-consuming. It can be difficult and complicated to reconcile at the end of a payment period, and costly for supplies. You are tasked with the monotony of rewriting each customer detail and accurately relaying sensitive payment information. (more…)
- Published in Invoice Payments