Accounts Receivable
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Accounts Receivable
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In the simplest of terms Accounts Receivables can be defined as the amounts owed by the customers for goods or services that a company allowed the customers to purchase on credit. The bigger businesses rarely operate on day to day or cash basis. Instead, they have a set time period, for instance 30 days or 60 days, before the customers are required to pay for the products they have received. That owed amount is known as accounts receivables for the business. Accounts receivables are an asset, and are considered a source of cash. That is to say that that if accounts receivables go down, an important source of cash to be used in the near future goes down, harming the liquidity position of the business. They matter for the simplest reason that they factor in significantly in a company’s working capital and are among the decisive factors for business decisions, from marketing expenses to growth plans.
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Managing Accounts Receivables
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This might seem like an off-hand task but truth be told, management of accounts receivables is not an easy task. For starters, the record-keeping for owed amounts in an operational business itself is a time consuming and attention-worthy task, because any under-invoicing means loss to the business, and over-invoicing means a bigger loss to the business by losing clients and their confidence.
Then comes the factor of collection. Making sales and recording higher unrealized revenues is not enough. In fact, if a business is making too many sales without realizing the resulting amounts in cash or cash equivalents, it can very likely push the business to a credit crunch halting the provision of goods and services and also causing damage to the market competitiveness. At the same time the duration of the credit period that a business allows its customers has to be decided carefully considering the time value of money, the business cycle of the industry, and the financial health of the said business. All these factors require expertise and experience and cannot be decided over the top of the head.
HOW CAN ABOVE & BEYOND TECH LLC HELP YOU?
Above & Beyond Tech LLC not only has the required skill set you require to decide and maintain your credit cycles, but we also have just the right guidance and assistance you require to keep an uninterrupted order to cash payment cycle. From the moment you enter into a contractual agreement with your clients to the actual recovery of the money you are owed, Above & Beyond Tech LLC has technical and human resource skills to ensure you don’t worry about your receivables. Get quotes today and reap all the benefits mentioned in the previous section, and more!
At Above & Beyond Tech LLC you will get all these benefits and more. Get quotes today.