Outsourced Bookeeping

FEBRUARY 28, 2023

And in accounting, what could be more difficult and vital than Accounts Receivable? Accounts Receivable – Need for Metrics & KPIs: The information stuck in soloed legacy systems, disorganized processes, manual operations, and inconsistent collection process makes AR vague. Let us find out in this blog here.

Accounts Receivable 52

Accounts Receivable Accounts Receivable Account Receivables AR 52

Jetpack Workflow

JUNE 27, 2023

If you decide to start providing client accounting services (CAS), you may have high hopes of scaling your firm and taking on a more significant role within your clients’ businesses. Still, when properly executed, adding client accounting services can be ideal for firms wanting to establish their expertise further and boost profitability.

Accounting 52

Accounting Accounting Financial Reporting Cash Collection 52

Accounting Tools

JULY 28, 2023

When a seller allows a customer to pay for a sale over multiple years, the transaction is frequently accounted for by the seller using the installment method. An overview of the installment method is that someone using it defers the gross margin on a sale transaction until the actual receipt of cash.

Cash Collection 40

Cash Collection Accruals Collections Record Keeping 40

Accounting Tools

JANUARY 5, 2024

The collection period calculation does not include the collection period for non-trade receivables, such as advances to employees, since doing so would skew the result of the calculation.

Collections 40

Collections Cash Collection Accounts Receivable Accounts Receivable 40

Nanonets

SEPTEMBER 22, 2023

The  accounts receivable cycle  plays a crucial role in the financial health of businesses, enabling them to streamline operations, optimize cash flow, and ultimately get paid faster. Accounts receivable refers to the amount of money owed to a company for goods or services already provided on credit.

Accounts Receivable 40

Accounts Receivable Accounts Receivable Account Receivables AR 40

Accounting Tools

OCTOBER 11, 2023

Related Courses The Interpretation of Financial Statements The Statement of Cash Flows What is the Direct Method? Under the direct method, actual cash flows are presented for items that affect cash flow. Related Articles Cash Flow Statement Template Statement of Cash Flows Overview The Purpose of the Statement of Cash Flows

General Ledger 40

General Ledger Cash Collection Accruals Financial Statements 40

Accounting Tools

JULY 18, 2023

Related Courses Accounting for Merchandising Operations Retail Management What is a Merchandiser? The keys to success are to keep the payment terms long enough that the goods can be sold and cash collected before the manufacturer must be paid. A merchandiser is an entity that acquires and resells inventory.

Cash Collection 40

Cash Collection Collections Accounting Accounting 40

Accounting Tools

APRIL 16, 2023

The direct method of presenting the statement of cash flows presents the specific cash flows associated with items that affect cash flow. Using the direct method may require that the chart of accounts be restructured in order to collect different types of information.

Cash Collection 40

Cash Collection Collections Reconciling Financial Statements 40

Accounting Tools

MARCH 27, 2023

A larger number of debtor days means that a business must invest more cash in its unpaid accounts receivable asset, while a smaller number implies that there is a smaller investment in accounts receivable, and that therefore more cash is being made available for other uses.

Collections 40

Collections Cash Collection Accounts Receivable Accounts Receivable 40

Nanonets

APRIL 14, 2024

With AI-driven accounting capabilities, HR modules, payroll features, and a wide range of integrations, Sage Intacct supports businesses' needs today while helping them prepare for the future. These tools range from accounts payable platforms to inventory management solutions and everything in between.

AR 52

AR Payroll Data Entry Accounts Payable 52

Nanonets

SEPTEMBER 22, 2023

The  OTC process  encompasses a series of steps, starting from when a customer makes a purchase to when the business receives and clears cash for that purchase. It includes  order management ,  credit management ,  order fulfillment , invoicing, accounts receivable, payment collection, and  data management.

Revenue Cycle Management 40

Revenue Cycle Management Revenue Cycle Collections Invoicing 40

Accounting Tools

MARCH 2, 2024

In addition, the effects of changes in the various working capital line items on the balance sheet must also be taken into account. For example, an increase in accounts receivable represents a cash outflow, while a decrease in accounts receivable represents a cash inflow.

Financial Statements 40

Financial Statements Accounts Payable Accounts Payable Accounts Receivable 40

Accounting Tools

MAY 11, 2023

The Direct Method There are two ways in which to present the statement of cash flows, which are the direct method and the indirect method.

Financial Statements 40

Financial Statements Cash Collection Collections Payroll 40

Accounting Tools

JUNE 5, 2024

Related AccountingTools Courses Corporate Cash Management Working Capital Management Step 3. Speed Up Cash Collection Have customers send their payments to a bank lockbox, which can accelerate the flow of cash by a day or two.

Collections 40

Collections Invoicing Purchase Order Cash Collection 40

Nanonets

FEBRUARY 21, 2024

Introduction Cash reconciliation remains a critical process in today’s retail environment, despite the shift from traditional cash registers to advanced point-of-sale (POS) systems. What is Cash Reconciliation? Why is Cash Reconciliation Important?

Financial Statements 52

Financial Statements Collections Financial Records Reconciling 52