We are generally industry agnostic when it comes to the clients we serve, but we count a significant portion of our clients from the professional services industry. As such, we have developed deep understandings of specific concerns that those in the professional services industry experience frequently, such as the payment cycles of clients. From late paying to non-paying, we know that getting clients to pay bills is a particular pain point in the services industry.
For example, you get to the end of a project, send the invoice, and you wait. Weeks pass, and you still don't have anything to show for your work. Late client payments do more than throw off your company's accounting — they could also cause major stability problems for your business. Entrepreneur reports 82 percent of small and startup business failures result from issues with cash-flow management. Use these five tips to get your invoices handled on time.
Topics: accounts receivable, accounts payable, aging report
Aging is an accounting process that tells you how long you've had an asset or how long a bill has gone unpaid..
Most businesses that invoice customers later struggle with getting all their customers to pay in full and on time..
No business can operate over the long term without generating sufficient cash inflows. Even a profitable firm will.
We're proud to serve a wide range of clients, from SMBs just starting to find a strong foothold to those will.
As the leading provider of virtual accounting and bookkeeping services, we spend a great deal of time considering.
