Accounts receivable management is very crucial for any business. If we do not manage it properly, it will straight away have a negative impact on the cashflow of the business. Lot of business have failed just because they could not manage their receivables properly.
We at Enlaiven, help our clients in managing their receivables by periodic review and analysis of aging report and there by suggesting clients on where they are lacking in receivable management and how they can improve the same. This is backed by accurate bookkeeping of receivables and proper allocation of payments against the receivables.
Improper management of Accounts payable impacts business in two different ways. One, it creates negative impact on the cashflow of the business if we are not taking proper advantage of the credit period available to us. On the other hand, if payments are not released to vendors on time, it negatively impacts relationship with the vendors which might result in non-delivery or delayed delivery of goods or services.
We at Enlaiven, help our clients to manage their accounts payable properly. After we record all the invoices and apply payments against respective invoices, we do a periodic review of AP aging reports and there by suggest our clients on where we can improve on Accounts Payable management. Not only that, on a weekly basis we send outstanding bills report to our clients wherein they focus on payments that needs to be released on an urgent basis to continue uninterrupted vendor services. If client wishes, we can take over end to end accounts payable life cycle wherein we take full responsibility starting from recording invoices in the books till releasing the payments to vendors on or before due date. Release of payments to vendors will be subject to approval by our clients.
Do you have questions about any of our services? Whether it’s Bookkeeping, Accounts Payable & Receivable, Sales Tax, Budgeting, Forecasting, or Payroll Services, we can help. From ongoing cashflow management to a one-time clean-up of your books to mergers, de-mergers, and accounting software migrations, Enlaiven will deliver exceptional solutions.