4 Ways to Improve the Sales and Accounts Receivable Relationship

For some reason, over the years the sales department and the accounts receivable department have been known to butt heads. Due to differences of opinions on how to handle credit and collection situations, it is now very rare to see sales and the accounts receivable department working together. However, this is the one sure-fire way to ensure that all accounts are collected upon. Here’s four ways to bridge the gap and improve the sales and accounts receivable relationship.

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Accounts Payable v. Accounts Receivable

There are a lot of different terms in the accounting profession that are very unique. You would not find this type of language outside of business and accounting, which means it can become very confusing for someone who may not be as familiar to it. Most business technology currently uses these very niche terms to label what their products can do and what features they hold. Two common areas are accounts payable and accounts receivable. They sound very similar but have two very different functions.
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3 Excuses for Not Collecting

Everyone has their own process for getting work done, but some can yield higher success than others. Before you take the advice of the guy in the corner office for managing your accounts receivable, make sure that their processes aren’t outdated or simply lazy excuses. There are a few common excuses that have been proven to actually hurt your accounts receivable, and we’ll explain why below.

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Reduce Agriculture Accounts Receivable in 4 Easy Steps

Agricultural industries are some of the most unique when it comes to accounts receivable. Majority of business occurs during three to four months, and then it will taper off as the season ends. The rest of the year is spent putting money back into the business to prepare for the next big boom. This can be really difficult when it comes to managing cash flow. You must be extremely accurate in your sales predictions and you have to collect all of your invoices on time. Collecting, however, isn’t always so easy in agriculture accounts receivable.
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How Accountants Can Aid in Choosing a New Accounting Software

As an accountant, you have the inside knowledge of when a client’s previous accounting methods are beginning to lose their luster. Even if that company is currently using an accounting software that was built into their ERP system, maybe they’ve simply outgrown it and the software is now lagging behind. Letting your client know that their desperately in need of a new and better accounting software can help a company tremendously.
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Managing Cash Flow in Your Small Business

Small businesses are the heart of the United States. Movements to “shop local” and participate in Small Business Saturday prove that a lot of people care about small businesses. Unfortunately, sometimes the support from our community just isn’t enough to keep small businesses rolling.
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The Five Worst Personality Traits for Accounts Receivable

Collecting on outstanding invoices is probably the least fun part of any job. It is an uncomfortable and, often times, frustrating task. Everyone’s personalities are different, but some are better suited to credit management teams than others. If you tend to be a hot head, that may be a bad habit to have when you’re collecting unpaid invoices often.
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What Accountants Can Offer to Accounts Receivable Software

Every day it seems like we hear of another job that has been replaced by computers and automation. Cashiers have been replaced by self check outs and bank tellers are being replaced by online banking and ATMs. But what about accountants? With all the automated accounts receivable software out there you would think that this is an easily replaceable field. However, there are aspects about accountants that just can’t be replaced.
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Building Finishing Contractors Plagued with Slower Payments

Slow payments in the construction industry seem to be commonplace. Between low bids and constant invoice disputes, it can leave you sitting back wondering if you’re ever going to get paid. For building finishing contractors, those accounts receivable days seem to be getting longer and longer.
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Proactive Practices for Invoice Collection

If you notice that a majority of your invoices have gone uncollected, the answer to your problem may lie internally. If you become more proactive on collecting debts, you may notice a decrease in days waited to receive payment. Start the collection process early, rather than waiting until the due date has arrived. Here are some tips on getting ahead of the game.

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How to Know You’re Ready For Accounts Receivable Software

Without a hearty flow of accounts receivable in a company, there probably aren’t many days ahead. It is the lifeblood of a business. But what happens when those accounts receivable become too much to handle? If you find yourself in these four situations below, maybe it’s time to consider moving to an accounts receivable software.
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