HANOVER PARK, IL 60133
(773)-321-0007
Accounts Receivable
Helping to track unpaid invoices to make sure money is received and Quickbooks is updated
01Confirm Cash Flow
By gaining a comprehensive understanding of your Accounts Receivable, as the business owner, you can enhance your decision-making capabilities, making more informed and strategic choices for your business.
02Work "ON" your Business
Our role is to assist you in making crucial high-level decisions by providing real-time reporting of your Accounts Receivables, relieving you from the burden of handling this task yourself.
03Affordable Pricing
Through our dedicated emphasis on supporting small businesses and real estate customers, we have strategically positioned ourselves to provide affordable pricing options.
What are Accounts Receivable?
Accounts Receivable represents the outstanding funds that customers owe to the company for goods or services rendered but have not yet made payment for.
Invoicing
Accounts Receivable involves generating and sending invoices to customers for the goods or services provided.
Credit Terms
Accounts Receivable includes establishing credit terms, such as payment due dates and any applicable discounts for early payment.
Customer Payments
Managing customer payments is a critical aspect of Accounts Receivable. This includes tracking and reconciling incoming payments and ensuring they are applied correctly to outstanding balances.
Aging Analysis
Conducting an aging analysis of Accounts Receivable helps to monitor the timeliness of customer payments, identify overdue accounts, and take appropriate actions to collect outstanding balances.
Customer Payments
Managing customer payments is a critical aspect of Accounts Receivable. This includes tracking and reconciling incoming payments and ensuring they are applied correctly to outstanding balances.
Aging Analysis
Conducting an aging analysis of Accounts Receivable helps to monitor the timeliness of customer payments, identify overdue accounts, and take appropriate actions to collect outstanding balances.
Collection Activities
Accounts Receivable teams engage in collection activities to follow up with customers who have overdue payments, sending reminders, making phone calls, or initiating legal actions if necessary.
Customer Relations
Accounts Receivable departments maintain positive relationships with customers, addressing any payment-related inquiries or concerns and providing excellent customer service.
Cash Flow Management
Effective management of Accounts Receivable directly impacts cash flow. Timely collection of outstanding balances helps to optimize cash flow and maintain a healthy financial position.
Reporting and Analysis
Accounts Receivable data is analyzed and reported to provide insights into the company’s financial health, customer payment trends, and potential areas for improvement.
Cash Flow Management
Effective management of Accounts Receivable directly impacts cash flow. Timely collection of outstanding balances helps to optimize cash flow and maintain a healthy financial position.
Reporting and Analysis
Accounts Receivable data is analyzed and reported to provide insights into the company’s financial health, customer payment trends, and potential areas for improvement.
Automation and Technology
Many organizations leverage automation and technology solutions to streamline the Accounts Receivable process, such as electronic invoicing, online payment portals, and automated payment reminders.
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