Implement an Efficient Accounts Receivable Management System with Whiz Consulting
Implement an Efficient Accounts Receivable Management System
Managing your cash flow by utilising Accounts Receivable Services
For businesses, one of the most visible and most significant assets on a balance sheet is account receivable. It is unfortunate that even though business is aware of its significance, many businesses can’t give it the time and resources it deserves. Businesses spend more time and effort acquiring new customers and then delivering products and services than recovering money from them. It may affect cash flow and cause debts for the company if you don’t pay attention to account receivables.
While everyone wants to have smooth cash flow, this is impossible for every industry due to the credit period existing in these industries. Proper accounts receivable management allows you to find the right balance during this time between outstanding invoices and potentially lost wages. Accounts receivable management services might be just what you need to turn around your cash position, so talk to businesses about it today.
Accounts Receivable Services We Offer at ZAT Consultants
Maintaining a record of the bills
Regular billing and delivery to customers
Creation of invoice
Record of received payments
Adjusting the payments with invoices
Linking Payment Gateways and the Accounting software
Constant follow-ups with debtors for pending invoices
Discounting the debtors
In-depth analysis of accounts receivable reports
Get in touch today for a personalised accounting solution specific to your business.
Contact us today to fix all your accounts receivable process issues! We can adeptly handle small business accounting as well as manage large firm accounting.
Why is Outsource Accounts Receivable Process Beneficial?
Outsourcing accounts receivable process can help you in the following manner –
Increase Efficiency
Outsourcing can allow you to free up your time, energy, and resources by automatically following up with customers on unprocessed credit.
Cost-Effective
Hiring an outsourced accounts receivable services can cost significantly less than hiring in-house staff.it.
Reduce DSO
Outsourcing reduces Days Sales Outstanding (DSO) by recording every sale and collecting receivables on time.
Client Relationships
Outsource partners ensure positive relationships with your clients by dealing with an existing client for any information or collection..
Why Choose ZAT Consultants for Accounts Receivable Management Services
At ZAT Consultants, we specialize in their accounts receivable management services. To give you the most accurate picture of your business, we help you eliminate bad debts, provide detail receivables report and so on to meet your needs. Our clients range from small, medium & large businesses and to ensure your records are accurate, we can use any accounting tool you choose, including QuickBooks, XERO, etc. Furthermore, if you would like follow-ups on invoices sent out, we can do it for you. You will receive timely reports that can be customized to your needs. Outsourcing accounts receivable service to an expert like us will help you handle regular follow-ups on wayward debtors. We can send out monthly reminders and negotiate with the debtor, and we will work equally hard to get money owed to your business.
Frequently Asked Questions (FAQs)
Below are the software we use to serve our global clients. Check out the logo to find out more details on their capabilities:
Accounts receivable is a current asset of your business. Accounts receivable arise when customers buy goods or services on credit. These payments are yet to be received by specific due dates hence the name receivable. Payment made immediately is good for the business but not practically possible. You have to match up to the credit period offered by competitors in the industry.
Days sales outstanding helps businesses measure the average number of days to collect payment for a sale. It is also referred to as the average collection period. It is crucial to measure DSO as it affects the cash flow of the business. Low DSO implies it takes fewer days to collect the accounts receivable, which will enable the business to reinvest its cash.
Accounts receivable are the amount you are to receive for products or services you offered. In contrast, accounts payable are the amount payable to the suppliers and the creditor to purchase goods or services.
