{"id":15463,"date":"2023-05-05T11:45:57","date_gmt":"2023-05-05T10:45:57","guid":{"rendered":"https:\/\/leaskas.co.uk\/?p=15463"},"modified":"2023-05-05T11:44:45","modified_gmt":"2023-05-05T10:44:45","slug":"five-checks-for-your-accounts-receivable-process","status":"publish","type":"post","link":"https:\/\/leaskas.co.uk\/five-checks-for-your-accounts-receivable-process\/","title":{"rendered":"Five checks for your accounts receivable process"},"content":{"rendered":"
I have a colleague who used to work as a supplier for a big corporation. The projects looked great on paper as they were always large and well-paid. But, at the very best, the invoices were paid in 90 days (often not having been accepted until the entire project was complete), and they frequently ended up being passed between departments, requiring any number of signatures, so the waiting period was extended still further.<\/span><\/p>\n <\/p>\n When we onboard new clients, even if we do our due diligence and establish their creditworthiness before we start doing business with them, there can still be doubt when we send out those first invoices. And it isn\u2019t just new clients, either: established clients can sometimes run into their cashflow problems and fail to pay by the due date.\u00a0<\/span><\/p>\n <\/p>\n The <\/span>monies you owe on unpaid invoices – your accounts receivable – is an aspect of business <\/b>you need to keep firm control of.\u00a0 If the time between an invoice being raised and the money arriving in the bank isn\u2019t carefully monitored, it can put an <\/span>unnecessary strain on cashflow<\/b>, which we\u2019ve seen is the key to business success.<\/span><\/p>\n <\/p>\n Having a clear, automated process for credit control will help keep things running smoothly.<\/span><\/p>\n But if it does come down to chasing payment, don\u2019t forget to ensure that your team members are fully trained, that they understand their role, are empathetic and stick to the same script.<\/span><\/p>\n <\/p>\n Your accounts receivable process is just one aspect we look at when working with our clients. Why not arrange a chat with us to see how we can help you take control of your business finances?\u00a0<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":" I have a colleague who used to work as a supplier for a big corporation. The projects looked great on paper as they were always large and well-paid. But, at the very best, the invoices were paid in 90 days (often not having been accepted until the entire project was complete), and they frequently ended … Continued<\/a><\/p>\n","protected":false},"author":11,"featured_media":15927,"comment_status":"closed","ping_status":"closed","sticky":true,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","jetpack_publicize_message":"Groundhog Day was this week, made famous by the 1993 movie starring Bill Murray caught in a time loop going round and round on identical days until he finally gets things right. There are definitely elements of running a business that can feel a bit like that.","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[71,76,75],"tags":[66,65,61],"jetpack_publicize_connections":[],"acf":[],"yoast_head":"\n<\/h2>\n
Here are five simple ways to keep on top of your accounts receivable:<\/span><\/h2>\n
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