Accounting Tools

JUNE 17, 2023

Related Courses Bookkeeping Guidebook Effective Collections How to Audit Receivables What is Accounts Receivable? Accounts receivable refers to money due to a seller from buyers who have not yet paid for their purchases. The amount of non trade receivables is usually quite small.

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Accounts Receivable Account Receivables Accounts Receivable Accounting 75

Gaviti

DECEMBER 18, 2022

So, how can account receivable collections and automation help them achieve this? Before delving into the topic of A/R collections and automation , let’s first define what working capital is. It often consists of cash on hand, accounts receivable, and inventory. Monitor Accounts Receivable Aging.

Collections 98

Collections Accounts Receivable Account Receivables Accounts Receivable 98

Gaviti

JANUARY 8, 2023

In accounts receivables, it most commonly manifests as account prioritization. This refers to organizing and categorizing customer accounts according to their creditworthiness and likelihood of payment. How Prioritization Strategies Improve Collections Performance. Developing a follow-up strategy is also essential.

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Collections Accounts Receivable Account Receivables Accounts Receivable 98

Gaviti

MARCH 4, 2024

Once an invoice hits accounts receivable (A/R), it enters what’s called the average collection period. Other common names include “days sales in accounts receivable,” “average receivables collection period,” or “ days sales outstanding (DSO).” What Is an Accounts Receivable Average Collection Period?

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Accounts Receivable Account Receivables Accounts Receivable Collections 52

Gaviti

MARCH 21, 2023

Proper accounts receivable management is vital if you want to operate a healthy business. It doesn’t matter how much in sales you generate if you never collect on your invoices, or if you keep losing vital invoices you are meant to collect on. Do you need help overcoming accounts receivable challenges in your company?

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Accounts Receivable Account Receivables Accounts Receivable Accounting 78

Gaviti

JANUARY 16, 2023

As a collections team, mailing dunning emails and collecting receivables from customers are routine tasks. Take a page from the marketing team’s book. By applying these same principles to your collections workflows, you can improve your cash flow and reduce your Days Sales Outstanding (DSO).

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Collections Accounts Receivable Account Receivables Accounts Receivable 98

Gaviti

JUNE 15, 2025

That’s where accounts receivable insurance (also known as credit insurance) comes into play. It offers a safety net, protecting your business from potential losses tied to unpaid receivables. This guide explores every facet of insurance for accounts receivable, from benefits and drawbacks to cost analysis and how to get started.

AR 52

AR Accounts Receivable Accounts Receivable Account Receivables 52

Gaviti

NOVEMBER 14, 2022

Receivables collection is one of the most critical functions of any business, but it can also become one of the most stressful. Companies can reduce many overwhelming and monotonous aspects of collections via automation. Sage Intacct streamlines collections tasks but automation alone is not enough. Processing payments.

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Collections Invoice Processing Accounts Receivable Account Receivables 72

Outsourced Bookeeping

FEBRUARY 29, 2024

Since necessity is the mother of all inventions, the concept largely applies to the accounts receivable processes as well. This piece seeks to explore the advantages of outsourcing accounts receivable. Why Outsourcing Account Receivable Make Sense What is outsourcing account receivable?

Accounts Receivable 52

Accounts Receivable Account Receivables Accounts Receivable Outsourced Bookkeeping 52

Gaviti

OCTOBER 30, 2023

In this article, we explore the advantages of autonomous finance, especially as it relates to accounts receivable, and at what point your company should consider employing them, so you can decide if it’s a worthwhile investment for your business. What are the Benefits of Autonomous Finance in A/R Collections?

Collections 75

Collections Invoicing Bank Reconciliation Accounts Receivable 75

Gaviti

JULY 11, 2024

The traditional accounts receivable process is full of manual processes that are prone to error. As a result, many businesses turn to accounts receivable automation solutions. Automating these processes eliminate manual errors that lead to delays in collections, improving overall efficiency.

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Account Receivables Accounts Receivable Accounts Receivable Bank Reconciliation 52

Gaviti

OCTOBER 27, 2022

An accounts receivable (A/R) analysis report is a tool used to assess your A/R in aggregate, giving you a better understanding of cash flows. A complete accounts receivable analysis cannot be achieved with one method, so teams will need to combine several techniques. Creating an Accounts Receivable Analysis Report.

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Accounts Receivable Account Receivables Accounts Receivable Collections 52

Nanonets

MAY 8, 2023

Try Nanonets accounting automation software to streamline all your accounting receivable processes. Start your free trial Accounts receivable (AR) is an asset on a company's balance sheet. In other words, accounts receivable is the money a company expects to receive in the future from its customers.

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Accounts Receivable Account Receivables Accounts Receivable AR 52

Invoicera

JANUARY 9, 2024

There’s a solution: creating a foolproof accounts receivable workflow. What Is the Accounts Receivable Process? Accounts Receivable (AR) is the lifeline of a business, detailing the money owed by customers for products or services rendered. But fear not! Now, there comes a question: how to create it?

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Accounts Receivable Accounts Receivable Account Receivables AR 52

Gaviti

FEBRUARY 13, 2023

The start of a new year means new opportunities for your business to improve, and one area that is often overlooked is your company’s accounts receivable process. This is why many companies consider using third party partners to take care of their accounts receivable process.

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Accounts Receivable Account Receivables Accounts Receivable Accounting 52

Invoicera

APRIL 2, 2024

The accounts receivables and payables management records have a unique significance in the business world. Let’s dive into detailed information about Accounts Payable and Receivable Management and their importance. What is Accounts Payable Management?

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Accounts Receivable Account Receivables Accounts Receivable Accounts Payable 52

Gaviti

NOVEMBER 27, 2023

Disputes within account receivables can lead to delayed payments, strained customer relationships and unforeseen cash flow problems. Here are the usual steps: Receiving the dispute: The accounts receivable team identifies a customer’s invoice or payment discrepancy and is given to an A/R analyst.

Accounts Receivable 52

Accounts Receivable Account Receivables Accounts Receivable Collections 52

Gaviti

MAY 8, 2025

Real-Time Processing With AI, transactions are processed in real time, which accelerates the accounts receivable (AR) cycle and supports timely financial reporting. Accurate cash application results in cleaner financial books and fewer disputes with customers. This reduces the backlog of unapplied cash.

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AR Data Entry Invoicing Accounts Receivable 86

Gaviti

MARCH 3, 2024

Many of these organizations focus on implementing RPA in the financial and accounts receivable department, where employees are burdened with repetitive manual tasks. What is Robotic Process Automation (RPA) in Accounts Receivable? Benefits of accounts receivable automation include: It’s more efficient.

Accounts Receivable 52

Accounts Receivable Account Receivables Accounts Receivable Accounting 52

Gaviti

JUNE 11, 2025

Customization for Recurring Payments The use of ACH pre-authorized credit allows businesses to collect payments automatically, improving accounts receivable performance. Whether you’re expecting a credit card payment or an ACH transfer, your customers receive timely, personalized reminders that increase on-time payments.

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AR Accounts Receivable Accounts Receivable Account Receivables 52

Ontrack Bookkeeping

FEBRUARY 26, 2025

Profit and loss statements show actual profit Unlike the cash flow forecast, the profit and loss report includes book figure inputs that dont involve cash outlays but do affect the profit calculation, such as: Money owed to you Money owed by you Depreciation expenses on capital assets like equipment. We can help. How can we help?

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Billing Collections Accounts Receivable Account Receivables 52

Remote Quality Bookkeeping

MAY 15, 2025

DIY Bookkeeping Without Proper Training Trying to manage your books without understanding basic accounting principles can be more damaging than neglecting them altogether. Failing to Reconcile Bank and Credit Card Statements Reconciliation isnt just a formalityits how you ensure your books reflect your businesss reality.

Small Business Bookkeeping 52

Small Business Bookkeeping Business Bookkeeping Bookkeeping Outsourced Bookkeeping 52

Gaviti

FEBRUARY 20, 2023

An accounts receivable balance refers to a company’s outstanding invoices that customers have not yet settled. In other words, it is the amount of money owed to a business by its customers for goods or services provided but for which it has not received payment. For example, a customer might choose to pay when he orders.

Accounts Receivable 52

Accounts Receivable Accounts Receivable Account Receivables Reconciling 52

Gaviti

FEBRUARY 17, 2024

Since your company’s ability to get paid quickly directly impacts your cash flow, it’s important that you have a strategy for both your accounts receivable management to encourage the timely payment of invoices. The Key Components of Effective A/R Management The main aspect of A/R management is the collections of receivables.

Collections 52

Collections Accounts Receivable Accounts Receivable Account Receivables 52

Accounting Tools

MARCH 24, 2023

Related Courses Bookkeeping Guidebook Credit and Collection Guidebook How to Audit Receivables What is the Accounts Receivable Ledger? The accounts receivable ledger is a subledger in which is recorded all credit sales made by a business.

Accounts Receivable 40

Accounts Receivable Account Receivables Accounts Receivable General Ledger 40

Gaviti

SEPTEMBER 7, 2022

The collection process significantly impacts cash flow at your business. Over time, this has led to a set of accounting control best practices. These efforts at collection control have yielded the best results for organizations around the world. When determining how to improve the collections process, start at the beginning.

Collections 52

Collections Accounts Receivable Account Receivables Accounts Receivable 52

Gaviti

NOVEMBER 16, 2023

It might seem like a silly question to ask in a blog dedicated to topics about accounts receivables, but there actually is no standard consensus on exactly when an account is categorized as delinquent. It extends the time period until a receivable is collected, increasing the risk of negative cash flow.

Accounts Receivable 52

Accounts Receivable Accounts Receivable Account Receivables Accounting 52

Gaviti

MARCH 21, 2023

If this sounds like your company, then the best solution is to accelerate your accounts receivable collection so you can turn sales into capital you can actually use to maintain your business. There are many strategies to streamline invoice collection to get the money owed to your company quicker.

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Collections Invoicing AR Collections AR 52

Gaviti

NOVEMBER 29, 2022

It also gives companies the ability to move away from manual tracking in spreadsheets, to a real-time dashboard, which saves time and gives a full and reliable visualization of the current state of collections. So, how can using a collection dashboard help, and why is it so indispensable as a growth tool? Accounts Receivable Turnover.

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Collections Accounts Receivable Accounts Receivable Account Receivables 52

Billing Platform

FEBRUARY 17, 2025

For businesses operating in dynamic industries, understanding the concept is essential for aligning with Generally Accepted Accounting Principles (GAAP) and maintaining transparency with stakeholders. Revenue accrual is a key principle in accounting that ensures revenue is recognized when earned , not necessarily when cash is received.

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Accruals Accounts Receivable Accounts Receivable Account Receivables 92

Gaviti

FEBRUARY 6, 2023

And with the proliferation of AI and machine learning tools in the digital landscape, 2023 is the perfect time for accounts receivable (AR) teams to examine their processes and find areas for improvement through better technologies, tactics, and process management. Accounts receivable is no exception.

Accounts Receivable 52

Accounts Receivable Accounts Receivable Account Receivables AR 52

Gaviti

FEBRUARY 18, 2024

Even with the most streamlined and automated A/R management process and B2B collections best practices , customers don’t always pay on time. At this point, your business should move from handling the invoice in-house to managing it through one of the debt collection outsourcing services listed below. billion by 2025 in the U.S.

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Collections Invoicing Accounts Receivable Accounts Receivable 52

Remote Quality Bookkeeping

APRIL 14, 2025

Paying Bills and Managing Accounts Payable: Keeping up with due dates and ensuring vendors and suppliers are paid promptly to maintain strong business relationships. Monitoring Accounts Receivable: Tracking outstanding customer payments and following up to collect overdue invoices.

Bookkeeping 52

Bookkeeping Small Business Bookkeeping General Ledger Accruals 52

Gaviti

DECEMBER 28, 2023

Collections calls typically rely on a team of individuals, each responsible for his or her own accounts. Although the idea is for the collections teams to build a rapport with their customers, the approach is flawed. Other inefficiencies of collections calls include: They are resource-intensive.

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Collections Invoicing Accounts Receivable Account Receivables 52

Jetpack Workflow

JUNE 19, 2025

Services included This should detail all services included in the accounting or bookkeeping engagement. Though an accountant cannot avoid liability for negligent work, this language can help if the contract ends under less than ideal circumstances. Processing accounts receivable including sending out invoices and statements as needed.

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Bookkeeping Accounting Bookkeeping Services Accounting 52

Gaviti

JANUARY 10, 2023

These professionals might choose to read books, listen to podcasts, network with other CFOs, and attend workshops that address the core competencies they want to build. Here are some of the most important ones to monitor: Collection effectiveness index. Accounts payable aging. Current accounts receivable.

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Budgeting Accounts Receivable Account Receivables Accounts Receivable 98

Gaviti

JANUARY 7, 2024

They need a solution that focuses on just the accounts receivable process in order to optimize their cash flow and make sure cash doesn’t fall through the cracks. It also connects different data across different departments within your company, from accounting to sales, logistics and inventory and human resources.

Collections 52

Collections Account Reconciliation Invoicing Bank Reconciliation 52