Know who owes you and what you owe

Accounts receivable are amounts customers owe your business for goods or services already billed. • Prepare and deliver customer invoices. • Maintain an aging report showing how long invoices have been unpaid. • Follow up on outstanding balances. • Apply payments to the correct customer invoices. You receive the agreed customer balance reports and collection follow-up records.

Accounts payable are amounts your business owes suppliers for bills received. • Process invoices and assign accounting categories. • Schedule payments for the agreed approvals. • Address supplier account and payment questions. • Identify available early payment discounts for your review. You receive the agreed supplier balance reports and payment schedules.

Cash and invoice reports help owners review expected receipts, planned payments and unpaid balances. • Prepare a 13-week forecast of cash coming in and going out. • Review collection and supplier payment periods, often called DSO and DPO. • Review working capital, funds tied up in day-to-day operations. • Report cash balances, overdue invoices and customer payment trends. • Analyze supplier spending and the bad debt reserve, an estimate of amounts that may not be collected. You receive the agreed cash forecast and invoice analysis with questions for your team's review.

Invoice management scope and fees are quoted with your monthly plan based on invoice volume and the work agreed. • Up to 50 invoices: Quoted with your plan /month. • Up to 150 invoices: Quoted with your plan /month. • Unlimited invoices: Quoted with your plan /month. • Confirm invoicing, collections, supplier payments and reporting included. • Agree on records, approval responsibilities and the service schedule. You receive a written scope identifying the invoice work, fee and responsibilities.