Posted on January 23, 2014
Terms like this get tossed about all the time, particularly by folks in the finance world who are used to dealing in financial terminology. But accounts receivable management is actually a pretty important term and topic for any small business so lets break it down into what it really means and why it's important. The real meaning The meaning behind the term is simply how well you handle the sending of invoices and the receiving of payment on those invoices. While this process might sound simple, think about how many steps are really involved. Creating invoices, sending them to the [...]
Posted on January 23, 2014
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. So what are some of the way you can get your invoices paid faster and on time. One of the first ways is to create a contract, nothing fancy, just a document that outlines [...]
Posted on January 23, 2014
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. It's this care balance that is really the magic of cash flow. But how exactly does this dance work and where do invoices get involved? Think of the invoice [...]
Posted on January 22, 2014
  Your business's cash flow is the life blood of your business. You need it to survive and thrive. Every small business ends up having the same problem and it's not always an easy one. In fact one of the biggest reasons businesses go out of business is from a simple lack of cash flow. That doesn't mean they don't sell their products, it simply means that between selling and paying for the raw materials or labor the product requires the owner can't make the bills and has to close up shop. We put together these tips to keep you [...]
Posted on January 21, 2014
Every business owner needs to know their cash flow inside and out. It can make or break a small business. But really when thinking about cash flow the main event is accounts receivable. While kind of a big term, it comes down to the simple idea that customers owe you money for the awesome product or service you sold/did for them and they need to pay for it. As soon as you send them an invoice your customers are in the accounts receivable process. From that moment until they pay you, they are outstanding and we need to make sure [...]