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Billing and Collections

How a lockbox or other service can benefit accounts receivable

Leave a Comment / Accounts Receivable, Automnated Clearing House (ACH), Billing and Collections, Electronic Payments, Small Business, Small Business Owners, Small Business Tips /

For decades, businesses have used bank lockbox services to speed up collections and reduce administrative work involved in processing customer checks. Today, the basic idea remains the same, but modern lockbox services can automate your accounts receivable processes. Automated clearing house (ACH), credit card and instant-payment services can also provide efficient collections. So the question […]

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B2B businesses need a cohesive strategy for collections

Billing and Collections, Business to Business (B2B), Small Business, Small Business Owners /

If your company operates in the business-to-business (B2B) marketplace, you’ve probably experienced some collections challenges. Every company, whether buyer or seller, is trying to manage cash flow. That means customers will often push off payments as long as possible to retain those dollars. Meanwhile, your business, as the seller, needs the money to meet its

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Strong billing processes are critical to healthy cash flow

Billing and Collections, Cash Flow, Small Business /

Once a business is up and running, one fundamental aspect of operations that’s easy to take for granted is billing. Often, a system of various processes is put in place and leadership might consider occasional billing mistakes to be part of the “cost of doing business.” However, to keep your company financially fit, it’s imperative

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6 tried-and-true strategies for improving collections

Accounts Receivable, Billing and Collections, Small Business, Small Business Tax Tips, Tax Deduction /

Businesses that operate in the retail or restaurant spheres have it relatively easy when it comes to collections. They generally take payments right at a point-of-sale terminal and customers go on their merry ways. (These enterprises face many other challenges, of course.) For other types of companies, it’s not so easy. Collections can be particularly

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Tighten up billing and collections to mitigate economic uncertainties

Accounts Receivable, Billing and Collections, Cash Flow, Small Business, Small Business Owners /

While many economic indicators remain strong, the U.S. economy is still giving business owners plenty to think about. The nation’s gross domestic product unexpectedly contracted in the first quarter of 2022. Rising inflation is on everyone’s mind. And global supply chain issues persist, spurred on by events such as the COVID-19 lockdowns in China and

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