Accounts Receivable Service NYC
Accounts Receivable Service NJ
Accounts Receivable Service Manhattan
Accounts Receivable Service Westchester County
Accounts Receivable Service Rockland County
Accounts Receivable Service Nassau County
Accounts Receivable Service
Bookkeeping NYC provides expert accounts receivacle services for NYC, Manhattan, NJ in Bergen County, Westchester County, Rockland County and Nassau County in Long Island. Our experienced bookkeepers can meet you at your business or provide an accounts receivable service by downloading your data to our secure location for more efficient processing.
We provide timely and accurate bookkeeping services to NYC and the tri-state area. Maintaining customer accounts is important to a small company's working capital and ability to sustain positive cash flow. Collecting outstanding balances is not always easy nor is monitoring your customers' payment history when you have a business to run. Our accounts receivable services help you manage your receivables and we also provide detailed reports to keep you informed as to your cash flow position.
Our accounts receivable services include:
- Report generation and ratio analysis
We can set up customers to allow the generation of invoices and posting of payments received to directly link to the customer's account. We can assist in obtaining and reviewing the necessary documents prior to creating the new customer in the system. For example, any internal forms that are required to be approved will be verified and we can obtain a credit report for your prospective customer on your behalf.
Reviewing credit reports prior to initiating business with a new customer will help you gain assurance your customer is solvent and able to pay timely. Setting up customer's correctly facilitates the automation of tasks that when performed manually, are tedious and time consuming. Additionally, your reporting capabilities are greatly improved, allowing us to provide you with more detailed reports.
As your company processes sales, it is important to send invoices to your customers for credit sales. Invoices remind customers of the money owed for goods or services your company provided and also notifies the customer of the date payment is due. We can generate and send out invoices on behalf of your company each month. We send invoices via email or mail, the method is dependent on our client's preference.
Our automated process saves time and makes your company's collection process more efficient. Additionally, system generated invoices provide an audit trail that allows us to provide you more accurate and detailed information in the reports we send.
Expert Bookkeeping Services that Keep You Current and in Balance!
"I started off using the accounts receivable service because I have a lot of clients with numerous invoices. As a small-business owner, I found it difficult to keep up with what clients owed me, and if I billed them or not.
One of my fears had always been when I client called me to verify his statements. Often, my own recording keeping was wrong. It was an embarrassing way to maintain clients.
I was surprised how little the accounts receivable cost. It was far less than hiring someone full time, and I found it paid for itself in my first month. There were many services, we were doing that didn't get billed.
Bookkeeping NYC brought my client's accounts receivable up to date and gave me a fresh new start towards a more professional relationship with my clients. Since then, I have expanded to many of their other services too.
They are professional, polite with my employee and business relations, and their monthly reports are amazing. I was able to take the next step in my business without having to make a giant leap."
Our Bookkeeping Accounts Receivable Services
Many small businesses manually create invoices and purchase orders. While there is nothing wrong with manual creation of documents, automation will provide you a faster, more efficient way of conducting business. Plus, storing documents on your computer saves considerable space when compared to traditional filing methods. There are many ways to safely back up your computer's data which eliminates the fear of losing important business information stored online.
We can help your company automate its processes and create the forms your company will need (i.e., invoice, purchase order, customer creation form, etc.) to transition from manual creation to automation.
Alternatively, if you decide to stay with your current process of manually creating documents, we can assist you in reviewing your current methods for streamlining and other opportunities to increase efficiency.
As payments are received, we'll update customer accounts to record the payment. Month-end close procedures are performed faster and more efficiently when records are kept up-to-date. Timely updates to customer accounts also assure the accuracy of any ad-hoc reports requested by our clients. Ad-hoc reports are created when someone asks for a report without planning ahead of time.
An ad-hoc report is not requested on a periodic basis similar to other reports, such as the accounts receivable aging report that is provided monthly, but rather only when a specific need requires certain information to be extracted from the system.
Report Generation and Ratio Analysis
Every company's goal is to drive sales and to convert sales into cash on hand. Collecting receivables outstanding from credit sales is crucial to your company's liquidity. When we enter sales, invoice, and payment information into our system we're able to provide reports summarizing the current position of your company's outstanding receivables. These reports increase the transparency you have into your company's collection process. We'll provide the following reports on a monthly basis:
- A summary of outstanding receivables by customer
- Ad-hoc reports on a client by client basis.
In addition, we can perform ratio analysis which provides another method of monitoring your company's collection process. See below for a brief description of the two most commonly used receivable ratios:
- Accounts receivable turnover ratio determines how many times your company converts it's receivables into cash during the year.
- Number of days in receivables ratio will inform you how many days on average it takes for your company to collect outstanding receivables from customers.
Ratio analysis can be compared to industry standards and is a quick way to determine if your collection policies are working effectively or not.
Please contact us today for a free consultation and learn how we can help you manage your business with our accounts receivable service. Copyright 2012 All Rights Reserved. All Art Purchased and Licensed by Shuttertock.com Website by Solution Web Designs