If you've spent any time doing it you'll quickly realize accounts receivable is one of the hardest jobs to do. It doesn't matter if you're the business owner making it part of your weekly chore list or if it's your full time job as part of the accounts receivable department. When considering how to focus back on your core business one of the best ways is to outsource this component of your business.
If you've ever had a customer pay an invoice late you know how hard that can be for your business and how much an impact it can have, especially if you didn't have a lot of cash just sitting in the bank. If this has happened to you don't fret, you're not alone, in fact at any one time almost 30% of all invoices are late.
As a business it's important to always watch your cash flow. It's the way you not only pay your bills, it's also the way you grow and sustain your enterprise. Get too low on cash and you can't pay your bills, danger Will Robinson, danger! Have too much of it around (not likely I know) and you could simply be underfunding your business and holding back on growth for your business.
Ever use InvoiceSherpa and think man it would sure be nice if you could schedule all the reminders for me and then I could actually approve or deny which ones actually go out?
You love a good fee right? I mean who doesn't , a little extra jab from your vendor when you're late on an invoice. When you get it you think "Wow thanks for teaching me a lesson, I really deserve that." Yeah right, you think what a jerk, I can't wait to replace that person. The reason why is because we're human. We tend to blame others and not ourselves when things go wrong and when we feel hurt we lash out.
So imagine you have a bunch of outstanding invoices with your customers. Now imagine those are really just like loans that you've made to those customers who get to use that money in their business, even though that money really belongs to you. I know, weird right? But it's true. The moment you remit an invoice you're essentially saying you owe me money because I did something for you. Whether or not that money is in the bank, under the mattress, or in the vault, it's technically your money. So the longer it sits in the volcano lair the longer it's on [...]
Not getting paid fast enough, on time, ever? (yikes!). Lets see if we can make this problem go away.
Harvest is one the best ways to get your business paid faster, it make it easy to invoice customers and manage your small business finances. We were ultra excited when they let us add our automated invoice reminders to their already awesome service. Through the Harvest Add-Ons Marketplace Harvest users can now easily add InvoiceSherpa to their existing Harvest account. With this integration you can quickly: