Gaviti

OCTOBER 30, 2023

In this article, we explore the advantages of autonomous finance, especially as it relates to accounts receivable, and at what point your company should consider employing them, so you can decide if it’s a worthwhile investment for your business. What are the Benefits of Autonomous Finance in A/R Collections?

Collections 76

Collections Invoicing Bank Reconciliation Accounts Receivable 76

Gaviti

MARCH 5, 2025

This article examines the rising threat of fraudulent activities targeting accounts receivable, the necessity of a robust fraud prevention strategy, common fraud schemes that businesses must be aware of, and actionable steps on how to prevent accounts receivable fraud in 2025.

Accounts Receivable 80

Accounts Receivable Accounts Receivable Account Receivables Accounting 80

Nanonets

JULY 14, 2023

This post is mostly going to focus on invoice OCR and invoice information extraction using OCR and deep learning. We will also touch upon what is wrong with the current state of invoice recognition OCR and information extraction in invoice processing. Want to automate invoice processing ? Why digitize invoices?

Invoice Processing 98

Invoice Processing Invoicing Data Entry Computation 98

Gaviti

JANUARY 20, 2025

This article dives into the intricacies of the matching principle and explores best practices for integrating it with A/R automation tools for optimal financial accuracy. AR solutions provide detailed records of invoices, due dates, and payment statuses. Revenue is recognized accurately when earned and Associated costs (e.g.,

AR 52

AR Financial Statements Invoicing Collections 52

Accounting Tools

OCTOBER 6, 2023

Related Courses Bookkeeping Guidebook New Controller Guidebook Payables Management What is an Invoice? An invoice is a document submitted to a customer , identifying a transaction for which the customer owes payment to the issuer. Related Articles PDF Invoices (podcast) The Proper Invoice Structure The Statement of Account

Invoicing 76

Invoicing Billing Collections Bookkeeping 76

Xero

SEPTEMBER 1, 2022

Sometimes, there’s a discrepancy between what is received from the bank and the amount on the customer’s bill or invoice. Use GoCardless Instant Bank Pay to collect one-off payments — UK. You can also sort by the date it was created or sent, and bookmark the unique URL of each search for easy access later on.

XERO 264

XERO Payroll Data Entry Tax 264

Gaviti

JANUARY 26, 2025

A robust customer payment portal streamlines collections, simplifies the act of transferring payments, and eliminates many of the manual tasks that can bog down a companys operations. As you grow, managing invoices, histories, collections, and customer communication in general becomes increasingly unsustainable.

Accounts Receivable 52

Accounts Receivable Accounts Receivable Account Receivables Collections 52

oAppsNet

MAY 14, 2024

Streamlining accounts receivable collections is a strategic imperative for businesses to enhance their cash flow and operational efficiency. Efficient collection processes improve a company’s financial health and strengthen customer relationships by ensuring transparency and consistency.

Accounts Receivable 52

Accounts Receivable Accounts Receivable Account Receivables Collections 52

Accounting Tools

SEPTEMBER 30, 2023

Related Courses Credit and Collection Guidebook Effective Collections Essentials of Collection Law A past due invoice is a billing that has not been paid as of its due date. If a business extends credit to its customers , it is likely to experience situations where it must collect a past due invoice.

Collections 40

Collections Invoicing Accounts Receivable Accounts Receivable 40

Gaviti

FEBRUARY 2, 2025

In this article, we attempt to explain the connection between the operating cycle and A/R, identifying bottlenecks, and implementing strategies to improve efficiency, you can achieve faster cash flow and enhanced financial performance. DSO represents the average time taken to collect payments after a sale.

Accounts Receivable 52

Accounts Receivable Accounts Receivable Account Receivables AR 52

Counto

MARCH 24, 2025

Outstanding Invoices and Bills Stay on top of who owes you money and what you need to pay, improving cash flow management. GST Summary If youre GST-registered in Singapore, a dashboard can show GST collected, paid, and net liability helpful for preparing accurate filings. Ready for accounting that actually gets your business?

Accounting 52

Accounting Accounting Collections Bookkeeping 52

oAppsNet

MAY 16, 2024

Managing past-due invoices is a delicate task that requires a careful balance between maintaining healthy cash flows and preserving strong customer relationships. When invoices become overdue, it disrupts a business’s financial planning and signals a need for effective communication and negotiation strategies.

Invoicing 52

Invoicing Collections Deposits Billing 52

oAppsNet

DECEMBER 17, 2024

In this article, well guide you through the steps to conduct an effective AP audit, discuss best practices, and highlight key areas to focus on. Gather Relevant Documents Collect all the necessary documents required for the audit, including vendor invoices, purchase orders, payment records, contracts, and approval documents.

AP 52

AP Auditing Purchase Order Accounts Payable 52

Accounting Tools

JULY 23, 2023

Related Courses Credit and Collection Guidebook Effective Collections Essentials of Collection Law What is the Procedure for Collections? The collections staff may deal with an enormous number of overdue invoices. The detailed collection procedure is listed below. The steps are noted below.

Collections 40

Collections Invoicing Accounts Receivable Accounts Receivable 40

Counto

JANUARY 9, 2025

You must also notify your customers that you are now a GST -registered business and include the GST on invoices. These returns provide the IRAS with details of the GST you have collected and paid, and they ensure that you remain compliant with Singapores tax laws. If you owe GST , you must pay it by the due date to avoid penalties.

Collections 52

Collections Tax Corporation Tax Financial Statements 52

Accounting Tools

MARCH 5, 2024

Debt collection strategies are needed to maximize the efficiency and effectiveness of the collections team. Ultimately, the result should be more collected funds in relation to the collection effort expended. A suggested set of debt collection strategies to consider are noted below. Will it accept returned goods?

Collections 40

Collections Invoicing Accounts Receivable Accounts Receivable 40

oAppsNet

JANUARY 7, 2025

This article will empower you with a comprehensive understanding of what DSO means and why it deserves your close attention. A Closer Look at DSO Days Sales Outstanding is a number that shows the average time it takes to collect payment on invoices. On the other hand, a smooth invoicing process can encourage faster payments.

Billing 40

Billing Invoicing Accounts Receivable Accounts Receivable 40

Accounting Tools

JANUARY 5, 2024

What is a Collection Period? A collection period is the average number of days required to collect receivables from customers. It is measured as the interval from the issuance of an invoice to the receipt of cash from the customer. It is commonly tracked as a measure of the credit and collection efficiency of a business.

Collections 40

Collections Cash Collection Accounts Receivable Accounts Receivable 40

Accounting Tools

AUGUST 3, 2023

Related Courses Credit and Collection Guidebook Effective Collections Essentials of Collection Law Debt collection for a small business can be a difficult endeavor. A smaller organization does not have the resources to invest in an expensive debt collection infrastructure.

Collections 40

Collections Invoicing Accounts Payable Accounts Payable 40

AP Association

APRIL 12, 2022

Invoices come in and, eventually, money goes out of the company bank account. Don’t rely on manual systems to tell you that you’ve already paid an invoice. Cybercriminals, for instance, could pose as a supplier and demand payment from you using counterfeited invoices. There are also external fraud issues.

Accounts Payable 130

Accounts Payable Accounts Payable AP Accounting 130

Nanonets

AUGUST 17, 2023

Automating Invoice Approval Workflows Invoice approval is a crucial step in managing the financial operations of any business. It involves verifying the accuracy and legitimacy of incoming invoices before they are paid, and then disbursing payments to vendors in time.  What is Invoice Approval?

Invoicing 52

Invoicing Purchase Order Financial Operations Financial Operations 52

Accounting Tools

JUNE 15, 2023

Related Courses Credit and Collection Guidebook Effective Collections Essentials of Collection Law What is a Dunning Letter? Irrespective of the tone of the letter, it always states the amount due, the date of the unpaid invoice , the number of the invoice, and any late payment fines or interest penalties.

Collections 75

Collections Invoicing Accounts Receivable Accounts Receivable 75

Gaviti

APRIL 24, 2023

For example, AR teams might use one system for invoicing and another for inventory management, but those two systems do not speak to each other. The more difficult it is for a customer to settle the invoice, the more likely they are to procrastinate and prioritize other invoices that involve less friction.

Accounts Receivable 95

Accounts Receivable Accounts Receivable Account Receivables AR 95

Accounting Tools

JULY 29, 2023

Related Courses Credit & Collection Guidebook Effective Collections The collections clerk position is accountable for collecting the maximum amount of overdue funds from customers , which may include a variety of customer location techniques, collection methods, legal claims, and the selective use of outside collection services.

Collections 40

Collections Invoicing Accounting Accounting 40

oAppsNet

MAY 7, 2024

Among the various aspects of financial management, accounts receivable collections stand out for their direct impact on a company’s liquidity and cash flow. What Are Accounts Receivable Collections? Furthermore, efficient collections can also serve as a barometer for a business’s financial health.

Accounts Receivable 40

Accounts Receivable Accounts Receivable Account Receivables Collections 40

Accounting Tools

AUGUST 10, 2024

What is the Schedule of Expected Cash Collections? The schedule of expected cash collections is a component of the master budget , and states the time buckets within which cash receipts are expected from customers. The information in this schedule is derived from the sales information stated in the sales budget.

Cash Collection 40

Cash Collection Collections Budgeting Billing 40

Counto

JANUARY 9, 2025

Input Tax Credits : When you’re GST -registered, you can recover the GST you pay on imported digital services by offsetting it against the GST you collect from your customers. Record Keeping : It’s important to keep track of all your invoices for digital services that include GST.

Tax 52

Tax Collections Budgeting Record Keeping 52

Accounting Tools

APRIL 25, 2024

What is Invoice Factoring? Duration of Invoice Factoring This type of borrowing is intended to be short-term, so that borrowed funds are repaid as soon as the associated accounts receivable are paid by customers. Variations on Invoice Factoring There are several variations on the factoring concept, which are noted below.

Invoicing 40

Invoicing Accounts Receivable Accounts Receivable Account Receivables 40

Accounting Tools

APRIL 6, 2024

An accounts receivable aging is a report that lists unpaid customer invoices and unused credit memos by date ranges. The aging report is the primary tool used by collections personnel to determine which invoices are overdue for payment. What is the Accounts Receivable Aging Report?

Accounts Receivable 75

Accounts Receivable Accounts Receivable Account Receivables Accounting 75

Outsourced Bookeeping

MAY 31, 2024

Do you find it difficult to manage payment collections in your landscaping business? The collection of payment is another significant factor as it ensures the efficient operation of your landscape enterprise. Utilize invoicing applications that are used to create and send out invoices as soon as the project is complete.

Collections 40

Collections Outsourced Bookkeeping Accounts Receivable Accounts Receivable 40

Accounting Tools

JUNE 10, 2023

What is an Invoice? An invoice is a document submitted to a customer, identifying a transaction for which the customer owes payment to the issuer. An auditor will likely want to review a sampling of all invoices issued as part of the procedures associated with an audit.

Invoicing 40

Invoicing Billing Collections Auditing 40

Accounting Tools

AUGUST 27, 2023

Related Courses Credit and Collection Guidebook Effective Collections Essentials of Collection Law The primary tool of the collector is the collection call. Collection Notes Assemble the complete set of notes from any prior conversations with the customer.

Collections 40

Collections Purchase Order Accounts Receivable Accounts Receivable 40

Accounting Tools

OCTOBER 11, 2023

Related Courses Credit and Collection Guidebook Effective Collections What are Invoice Payment Terms? Invoice payment terms are an integral part of any bills issued by a business to its customers. These terms state the date by which the invoice is to be paid and any discounts that may apply to an early payment.

Invoicing 40

Invoicing Collections Billing 40

Counto

FEBRUARY 15, 2024

Neglecting Accounts Receivable Collection: Failure to implement a proper accounts receivable collection process or delays in collecting dues from customers can strain working capital and increase reliance on costly loans. Proactive management of supplier relationships and contract compliance is essential.

Accounts Receivable 97

Accounts Receivable Accounts Receivable Account Receivables Collections 97

LedgerDocs

OCTOBER 31, 2024

In this article, we’ll explore how leveraging cloud document management can transform the way you operate as a financial professional, making your workflow smoother, faster, and more efficient. Why Document Management Matters Documents are the backbone of a bookkeeper or accountants tool stack.

Bookkeeping 52

Bookkeeping QuickBooks Collections Invoicing 52

Counto

FEBRUARY 23, 2025

PayNow QR for Businesses: A Complete Guide to Setup and Payment Acceptance in Singapore As digital payments continue to rise in popularity, businesses in Singapore are embracing new, efficient, and secure methods to streamline payment collection. Invoices or receipts for online or offline purchases. Ready to upgrade your accounting?

Bookkeeping 52

Bookkeeping Collections Invoicing Budgeting 52

Gaviti

MARCH 21, 2023

It doesn’t matter how much in sales you generate if you never collect on your invoices, or if you keep losing vital invoices you are meant to collect on. A few accounts receivable solutions to this challenge include: Remind the customer that payment is due before the invoice due date. Make payment easy.

Accounts Receivable 78

Accounts Receivable Accounts Receivable Account Receivables Accounting 78