Accounts receivable management is a critical factor in ensuring the financial health of any business, and the internal processes you use to manage and track invoices plays a massive role in your overall success. Put most simply, late invoices mean late payments; fast delivery and frequent invoicing allows your customer plenty of time to process and send the money owed, which means you need to get the invoice in their hands ASAP. Managing accounts receivable in QuickBooks and invoicing in general takes time, and your collection employees are busy…so how can you put that into practice in your company?
You could hire additional employees or turn a part-time A/R clerk into a full time position to help handle the invoicing and subsequent activities, but the overhead of hiring can put a strain on the cash flow you are trying to improve. Additionally, hiring more employees may not solve the problem if inefficient processes and procedures are the real issue. Accounts receivable management automation can help.
If you manage accounts receivable in QuickBooks with the help of automation software, you have access to real-time information anytime, anywhere. With the right solution, you can set the system to automatically create and send invoices, track each and every email sent to and from customers related to a certain invoice, prioritize daily “to do” lists so you know exactly what needs to be done, track broken promises and payments, automate email communications and reminders, and much more.
QuickBooks may make accounting easy, but accounts receivable automation software for QuickBooks makes it fast and helps collectors resolve disputes quickly, focus on activities that drive profit instead of clerical tasks, provide outstanding customer service, and maintain healthy cash flow for the business.