Making Receivables Smoother and Faster with QuickBooks

Receivable refers to the unsettled transaction or debt, which are owned by the business by the customers. Basically, it represents the amount your customers have not paid for the stock that has been delivered. It is acceptable to some extent, but to maintain a proper cash flow of the business (especially inventory) with the vendors, timely settlement of the receivables is crucial. The faster it is the easier inventory management will be.

Making Receivables Smoother and Faster with QuickBooks

Businesses cannot control the clients with it, but some in-house methods can fasten the things appreciably. This is where QuickBooks, the most renowned business accounting software, can help. It offers a number of features that businesses can use to simplify the receivables tasks. These are the ways in which QuickBooks makes receivables smoother and faster:

  1. Track Pending Receivables: QuickBooks offers a very reliable track of the receivables and lists the pending ones. Being aware of the current status lets the business deal with the customers according and helps with the planning of the steps to get the operations executed without any hassles.
  2. Remind Customers for the Due Payment: QuickBooks can be updated with the contact details of the customers and set to send the reminders to let them know about their pending payments. This reduces the burden of following up every customer personally to get them make payments faster.
  3. Accept Payment in Various Forms: Reminding customers would hardly help with the faster receivable operations if the customers are not able to make payments via cards and other electronic mediums. QuickBooks will not let anyone down with it as it supports the cash, card, e-check, and many other forms of payment.
  4. Instant Updates of the Transactions: After the payment has been made by the customer, QuickBooks will update the user instantly, so that the requisite procedures at the business-end can be processed without any delay. For smoother business operations, it plays an important role.
  5. Generate and Send Statements: QuickBooks can maintain a track of each customer and thus, it can generate their transaction statements easily. Most of other business accounting software can do the same, but what makes QuickBooks a standout is its ability to send these statements to the customers via email automatically.

Wrapping Up

Accounting operations have to remain in sync with a number of things – that could be customers, vendors, employees, etc. and QuickBooks has made its name in the market by offering simplified ways to do all that. For the businesses that have more inventory-specified operations and payment from the customer-end is not instant, the feature that QuickBooks offers are indispensable. It can greatly reduce the manpower requirements for the business. At the same, since it automates most of the tasks, it also reduces the chances of error.


About Julie Watson

Julie is a dynamic professional with over 16 years of rich experience as a VDI and Application Hosting expert. At Ace Cloud Hosting, she humanizes disruptive and emerging remote working trends to help leaders discover new and better possibilities for digital transformation and innovation by using cloud solutions with an enterprise-class security approach. Beyond work, Julie is a passionate surfer.
On the weekend, you will find her hanging out with her family or surfing around the North Shore of Oahu.

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Comments (1)

  • Belly Ballot says:

    With QuickBooks managing receivables has become a lot easier. It lets you track pending receivables in a more efficient manner so that you can know when a payment is due and can notify the customer as per needed.

  • Denise E. Baldwin says:

    QuickBooks automatically sends reminders to customers about their due payments saving me from a lot of hassle. It keeps track of the records and the moment the time for payment comes it sends the alert to the customer on its own.

  • Eadric says:

    Accounting is a really hectic task. Especially if the business concerned has lot of receivables involved . QuickBooks make the task a little easier as it deals with receivables on its own, sending alerts to customers and taking their payments on its own.

  • Luis says:

    QuickBooks has made my life a lot easier. I work with a construction and real estate firm and a lot of our payments come after we are done with the clients. Before I used to have to manually keep a track of when the payment was due and then call the clients up to ensure they made their payments. Now QuickBooks does it for me!

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