Healthy cashflow is reliant on being paid on time. Business owners often concentrate their efforts on bringing in sales. However, they shift their attention away from collecting payments. They are doing the work, they are issuing invoices, but ultimately they are not getting paid. The micro and small business are statistically the most affected. “They are convinced they have a friendship with their customers, and their customers will eventually pay.” There’s a direct correlation between the number of failed companies and the average late payment times to those companies.
Evolution Cloud Accounting can help you ensure your accounts receivable is streamlined, organised and automated. We will make sure that your average collection time improves drastically by helping you set up an efficient invoice-to-collection process. This includes:
ezyCollect is an advanced web-based debtor management solution that easily integrates with your MYOB and Xero accounting software which automates all accounts receivables' tasks. ezyCollect allows you to schedule debtor reminder payments, statements and even thank you emails.
Find out more about ezyCollect.
An inefficient accounts receivable system wastes human labour on routine tasks, businesses that access finance to overcome cash flow shortages are paying fees on loans and bad debts need to be written off the ledger. Your business shouldn’t be incurring more costs to simply get paid. Automation can issue new invoices, chase overdue payments, accept online payments and ultimately collect your money faster. Imagine what your cash flow will look like if your receivable and debtor relationship improves!
We are located in Bondi (Sydney) and thanks to cloud technology we can service clients across Australia.
Click here to view our Bookkeeping and Set Up and Go Packages.