Billing Platform

OCTOBER 16, 2023

Although frequently associated with medical billing, billing compliance affects all industries with varying degrees of difficulty. Considered an umbrella term, billing compliance encompasses the regulations and frameworks that companies – large and small/public and private – should follow.

Billing 52

Billing Collections Auditing Financial Statements 52

Accounting Tools

OCTOBER 12, 2023

Related Courses Credit & Collection Guidebook Effective Collections How to Audit Receivables What is a Billing Statement? A billing statement is a listing of the transactions impacting an account during a specific period of time.

Billing 40

Billing Collections Invoicing Auditing 40

Billing Platform

JANUARY 1, 2024

Take for instance workflow versus billing process management (BPM). We’ll focus on financial functions by looking at the steps in the billing process and how workflow automation can play a significant role. Here are the key steps in the billing process, followed by how workflow automation can optimize the process.

Billing 52

Billing AR Invoicing Reconciling 52

Gaviti

APRIL 18, 2023

This blog post will explore various strategies that finance and collections teams can adopt to better handle issues that might arise from these recent unyielding interest rate increases. Ensure that your collections team has the necessary resources and tools to collect outstanding receivables and manage cash flow effectively.

Collections 97

Collections Accounts Receivable Accounts Receivable Account Receivables 97

Accounting Tools

SEPTEMBER 21, 2023

Related Courses Accounting Procedures Guidebook The following billing procedure addresses three tasks in the billing process, which involve collecting the information needed to construct an invoice , creating invoices, and issuing them to customers. Scan the details for each shipment to ensure that it is ready for billing.

Billing 40

Billing Invoicing Computation Collections 40

Billing Platform

JULY 5, 2023

And billing and revenue management (BRM), is often used by recurring revenue-based businesses that offer subscription-based billing, event-based billing, metered billing, and usage-based billing. Collect and analyze data Don’t overlook the data you collect.

Billing 52

Billing General Ledger Collections Reconciling 52

Billing Platform

AUGUST 14, 2023

Traditionally, billing functioned in the back office, and automating its tasks was a low priority. While this is still true for some companies, a growing number of businesses are making billing automation a priority. Before discussing the benefits of an agile billing model, let’s take a closer look at agile billing.

Billing 52

Billing General Ledger Invoicing Collections 52

Accounting Tools

AUGUST 27, 2023

Related Courses Credit and Collection Guidebook Effective Collections Essentials of Collection Law The primary tool of the collector is the collection call. Collection Notes Assemble the complete set of notes from any prior conversations with the customer.

Collections 40

Collections Purchase Order Accounts Receivable Accounts Receivable 40

Accounting Tools

OCTOBER 5, 2023

Related Courses Bookkeeping Guidebook Credit and Collections Guidebook New Controller Guidebook Position Description Billing Clerk Basic Function A billing clerk is responsible for creating invoices and credit memos , updating customer files, and sending invoices and payment reminders to customers. Must be detail oriented.

Billing 40

Billing Invoice Processing Collections Invoicing 40

Billing Platform

FEBRUARY 20, 2024

Although many of the terms are self-explanatory, others such as bookings vs billings vs revenue are frequently misunderstood and used interchangeably. Cutting Through Financial Jargon What exactly are bookings vs billings vs revenue? For customers paying in advance the bill is the total contract value.

Billing 52

Billing Accruals Invoicing Reconciling 52

Accounting Tools

OCTOBER 3, 2023

Related Courses Bookkeeping Guidebook New Controller Guidebook The Case for Billing from Multiple Locations The controller of a larger organization may be tempted to centralize the billing function, since a small group of functional experts can be relied upon to churn out invoices in large volumes. Customer-assigned tracking numbers.

Billing 40

Billing Purchase Order Invoicing Computation 40

Gaviti

JANUARY 16, 2023

As a collections team, mailing dunning emails and collecting receivables from customers are routine tasks. By applying these same principles to your collections workflows, you can improve your cash flow and reduce your Days Sales Outstanding (DSO). But how can you ensure that you are using the most effective workflow possible?

Collections 98

Collections Accounts Receivable Accounts Receivable Account Receivables 98

Accounting Tools

SEPTEMBER 30, 2023

Related Courses Credit and Collection Guidebook Effective Collections Essentials of Collection Law A past due invoice is a billing that has not been paid as of its due date. If a business extends credit to its customers , it is likely to experience situations where it must collect a past due invoice.

Collections 40

Collections Invoicing Accounts Receivable Accounts Receivable 40

Gaviti

JANUARY 24, 2023

At Gaviti we are always looking for ways to improve our platform and provide our users with the tools they need to manage their accounts and optimize their collections efforts. That’s why we are excited to announce the addition of several new metrics to the collections dashboard.

Collections 52

Collections Billing Accounts Receivable Accounts Receivable 52

Invoicera

MARCH 22, 2024

Inefficient billing processes can be hectic for anyone, be it startups, medium-sized companies, or large enterprises. Thus, we have listed the top 15 leading automated billing software that are reshaping companies in 2024. Do you know you can do all of this with automated billing software ? Not only are you struggling!

Billing 52

Billing Invoicing Invoice Processing QuickBooks 52

Invoicera

NOVEMBER 7, 2023

You must note that subscription-based business models have more chances to grow as they reshape the billing and revenue generation landscape. This blog post briefs you on the growing market of subscription-based models, their types, advantages, and challenges. Why Subscription-Based Billing Models Are On The Rise? Are you ready?

Billing 64

Billing Invoicing Collections Customer Service 64

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. What are the rates?

Collections 72

Collections Invoice Processing Accounts Receivable Accounts Receivable 72

Invoicera

NOVEMBER 7, 2023

You must note that subscription-based business models have more chances to grow as they reshape the billing and revenue generation landscape. This blog post briefs you on the growing market of subscription-based models, their types, advantages, and challenges. Why Subscription-Based Billing Models Are On The Rise? Are you ready?

Billing 59

Billing Invoicing Collections Customer Service 59

Xero

AUGUST 30, 2022

Recurring revenue business models can range from regular billing such as subscriptions, retainers and instalments, to invoicing the same customers multiple times over the year. Recurring billing models are growing fast, driven by a rise in subscription-based services, plus the shift to online billing amplified by the global pandemic.

XERO 195

XERO Collections Billing Invoicing 195

Accounting Tools

JUNE 18, 2023

Related Courses Business Ratios Guidebook Credit and Collection Guidebook The Interpretation of Financial Statements What is the Accounts Receivable Collection Period? The accounts receivable collection period compares the outstanding receivables of a business to its total sales. There are two ways to eliminate this problem.

Accounts Receivable 40

Accounts Receivable Accounts Receivable Account Receivables Collections 40

Nanonets

FEBRUARY 8, 2024

BILL, which used to be known as Bill.com, is a financial operations platform that gives businesses the tools to manage AP, AR, spend, and expense automation all in one place. million businesses that either use BILL to make payments or get paid with BILL, it’s clear that this cloud-based solution offers immense value to its users.

AP 52

AP Billing AR AR / AP 52

Invoicera

AUGUST 27, 2023

As your business grows, you might be grappling with the challenges legacy systems pose during the billing process. To overcome efficiency barriers, choosing a billing software that seamlessly integrates with your existing legacy systems becomes essential. Top 11 Billing Software for Legacy System Integration 1.

Billing 52

Billing XERO Data Entry Invoicing 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? First Pass Yield.

Collections 52

Collections Accounts Receivable Accounts Receivable Account Receivables 52

Cevinio

FEBRUARY 1, 2024

Most of these tasks can be automated to streamline the process of collecting payments on time, which is the main objective of your Accounts Receivable team. Modern AR Automation solutions automate manual processes such as payment matching, invoicing, and collections, drastically reducing the time and effort required to complete these tasks.

Accounts Receivable 130

Accounts Receivable Accounts Receivable Account Receivables AR 130

LedgerDocs

APRIL 12, 2023

From charitable donations and home renovations to medical expenses and more, there are a plethora of credits and deductions that can help your clients reduce their tax bill this tax season. To help you stay organized, we’ve provided the official LedgerDocs Tax Document Collection Checklist below. Try it free today.

Collections 52

Collections Tax Billing Accounting 52

SSI Healthcare Rev Cycle Solutions

AUGUST 25, 2022

Flawless Execution of Professional Billing for Northern Regional Hospital. As Northern Regional Hospital continued expanding its system and services, its leadership found themselves with a problem – completely independent computer systems to manage the hospital and individual practice billing. August 24, 2022. August 24, 2022.

Billing 52

Billing Revenue Cycle Revenue Cycle Management Computation 52

Xero

NOVEMBER 15, 2022

Having long payment collection periods increases bad debts and can lead to cash flow challenges. Kolleno – Recover overdue balances with automated invoice chasing and one-click payment collection via a simple digital payment platform. Ideal for businesses that bill their customers on a recurring basis. Getting paid quickly.

XERO 221

XERO Bank Reconciliation Invoicing Collections 221

Accounting Tools

APRIL 6, 2024

The most common responsibilities of the accounting department are as follows: Billings Function A billings group assembles information from the shipping and customer order departments to create invoices that are sent to the company's customers. It is essential to issue billings on time, in order to enhance cash flows.

Accounting 75

Accounting Accounting Financial Statements Budgeting 75

Accounting Tools

APRIL 8, 2024

You will have problems collecting accounts receivable if an order is shipped to a customer with a bad credit rating. Restrict access to the billing software. You should password-protect access to the billing software to prevent the illicit generation of credit memos. Match billings to shipping log. Billing review.

Accounts Receivable 40

Accounts Receivable Accounts Receivable Account Receivables Accounting 40

FinOps Foundation

FEBRUARY 22, 2024

State of FinOps Survey The State of FinOps is an annual survey conducted by the FinOps Foundation since 2020 to collect information about key priorities, industry trends, and the direction of the FinOps practice. The State of FinOps survey is conducted with a continuous collection model, meaning it is open year round.

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FinOps FinOps Computation Collections 331

RevCycle

MARCH 20, 2024

These facilities, often the sole source of medical care for miles around, face unique challenges in maintaining financial margins and collecting patient revenue. Up-front collections , where possible, can significantly improve cash flow. Implementing a flexible payment policy can be a game-changer.

Collections 92

Collections Billing Revenue Cycle 92

Xero

AUGUST 7, 2023

More than 10 million people use Expensify’s free features, which include corporate cards, expense tracking, next-day reimbursement, invoicing, bill pay, and travel booking in one app. GoCardless GoCardless puts you in control of collecting payments directly from your customers.

XERO 228

XERO Bookkeeping Invoicing Account Bookkeeping 228

Outsourced Bookeeping

MARCH 29, 2024

To identify opportunities for improvement, businesses should examine every phase of the AR management cycle, from invoice creation to payment collection. These objectives might be lowering Days Sales Outstanding (DSO), raising collection rates, boosting cash flow, or raising customer satisfaction.

Accounts Receivable 59

Accounts Receivable Accounts Receivable Account Receivables Outsourced Bookkeeping 59

Billing Platform

DECEMBER 21, 2023

While the cloud has been adopted for many internal processes, billing and more specifically subscription management are only just beginning to embrace cloud-based subscription management and its benefits. Cloud-based subscription management consists of many automated processes including approvals, generating invoices, and collecting payments.

Billing 75

Billing Collections Customer Service Computation 75

Billing Platform

FEBRUARY 1, 2024

Billing Cycle If the company recognizes revenue at the end of each month but sends invoices at the start of the following month, the timing of the billing cycle may not align with recognizing the revenue received. One-Time Projects Especially prevalent for SaaS companies where customers are billed after implementation completion.

Billing 52

Billing Accounts Receivable Accounts Receivable Account Receivables 52

Accounting Tools

AUGUST 4, 2023

The asset conversion cycle is the process by which cash is used to create goods and services, deliver them to customers, and then collect the resulting receivables and convert them back into cash. Billing Speed A business cannot be paid if it does not bill the customer. The key factors in the cycle are noted below.

Cash Collection 75

Cash Collection Collections Billing Bookkeeping 75

Accounting Tools

APRIL 6, 2024

The aging report is the primary tool used by collections personnel to determine which invoices are overdue for payment. Given its use as a collection tool, the report may be configured to also contain contact information for each customer.

Accounts Receivable 75

Accounts Receivable Accounts Receivable Account Receivables Accounting 75