Does this scenario sound familiar? We complete a job for a customer or client, invoice it out with agreed payment terms, payment due date rolls around but no payment is received. We send an email or a text to remind the customer - maybe they forgot? It happens. A couple of days later - still no payment. As time goes on, it starts becoming awkward asking for the money we are rightfully owed - what happens now?
Unfortunately this scenario is all to common for small businesses, and can result in a flow on affect of late payments being made to suppliers and so on.
Cashflow, as most of us know, is the lifeblood of any business. Having good cashflow not only allows a business to meet its financial obligations but allows you to plan for the future.
Debtor Management is imperative to keeping your cash flow healthy!
With this in mind, and listening to the struggles some of our clients go through in trying to pry payments from customers we have rolled out a debtor management service to take the pain away from clients and take care of debtors on your behalf.
We have a dedicated Accounts Receivable Specialist who can work with you to keep on top of your debtors and keep the money flowing in.
We use a customisable workflow system that can include email, texts and phone calls. This is a great option if you don't have a system in place, or have the staff or time to implement and follow through.
We have a number of solutions available to suit everybody - from one off support to regular debtor management.
Software Only
Ideal for businesses wanting to do their own accounts receivable in house - we can provide you with the software, set up and training.
Accounts Receivable Specialist
We do the work for you! Different options available to suit your needs - including invoicing, setting up workflows.
Accounts Receivable Review
We can do a review of your current debtor management. Including checking you have the correct terms and conditions in place, invoice templates, payment options, and provide you with an efficient accounts receivable process.
On Demand Finance
We have partnered with FundTap to help provide short term cash to cover you when you are waiting to get paid but in the meantime have expenses, wages etc to pay and need cash in the bank now. FundTap integrates with Xero and our debtor management software system. By using our partner portal to sign up you can get a $100.00 discount on your fees.
Get in touch today if you would like to discuss how we can help you. Jo is our in house Accounts Receivable Specialist and she would be happy to chat - jo@mytwocents.nz
