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Receivable Management Service

Happy Clients

600

Completed projects

100

Hours of Experience

250

Software Used

20

up tp £70 Cash Back

Including 12 months of free business banking

up tp £70 Cash Back

Including 12 months of free business banking

up tp £70 Cash Back

Including 12 months of free business banking

up tp £70 Cash Back

Including 12 months of free business banking

up tp £70 Cash Back

Including 12 months of free business banking

up tp £70 Cash Back

Including 12 months of free business banking

End to End Remote Bookkeeping & Accounting services for Business Owners & Accounting firms

NetcareFormation is a CPA firm providing complete outsource bookkeeping and accounting solutions to CPAs and small & medium-sized businesses across the United States, United Kingdom, Australia, New Zealand, Hongkong, Canada, and European countries.

Bookkeeping Service

Regular Management Accounts for your Business, We serve bookkeeping services for different industries.

Setup Xero/Quickbooks

Set up your accounting software in a day through our checklist, for converting a client from your legacy software to Xero.

Bookkeeping for CPAs

We help CPAs to reduce 50 % of their cost by outsourcing recurring tasks to us, with trust and security.

Payroll

We do Payroll for all countries in all software and comply with all tax formalities of the IRS, HMRC, ATO, etc.

Payable Accounting

Manage your Payables on daily basis, cost-effectively with reduced invoice discrepancies and disputes.

Indirect Tax

We do BAS, VAT, GST101A, Sales Tax, etc. reduce attribution errors and costs, and ensure indirect taxes.

Are your customers not paying in a timely fashion?

Is that affecting your cash flow, and it costs you bad debts? Then, the solution to these is to have systematic payment plans from the customer. NetcareFormation provides Receivable management services in India. A record receivable management merges tied in with guaranteeing that clients pay their solicitations or invoices. Great Receivables Management specifically adds to an organization’s benefit since it lessens terrible debts.
The organization likewise has a superior income and higher accessible liquidity for speculations or acquisitions. Besides, great Receivables Management boosts an organization’s professional image.

⚫ Reducing the total balance outstanding (DSO)
⚫ Preventing any bad debt in receivables outstanding
⚫ Determining the customer’s credit rating in advance
⚫ Frequently scanning and monitoring customers for credit risks
⚫ Frequently scanning and monitoring customers for credit risks
⚫ Maintaining customer relations
⚫ Detecting late payments in due time

Meru Accounting‘s plan for accounts receivable management

With the Receivable management services in India by Meru Accounting, you can be assured of your cash flows at timely intervals. We do regular follow up for receivables through email as well as through phone calls. We can also use a specific email ID created for your domain (receivables@yourbusiness.com) from which we can do email marketing for your organization.

Clear policies for credit approval.

Set clear policies for credit approval which could include bank reference, trade reference, financial statement, and so forth.

Send invoices for customers timely.

The receipt of an invoice is crucial for an organization to effectively utilize its debt collection system and ensure efficient money collection.

Accounting for receivables.

Factoring and early settlement discounts are effective strategies for expediting cash collection from accounts receivable, enabling easy customer payment tracking.

Tracking of overdue payments.

So, you can easily track the payments from the customers that are overdue. We also do regular follow-ups for receivables through email or phone calls.

Making aged Payables report.

This shows the amounts outstanding from each customer and also for how long they have been outstanding. This will, thus, show any breaches of the credit terms.

Automate your organization with online billing tools.

Automating Receivables Management improves workflow efficiency, enhances cash flow generation insights, and improves customer reports by linking all systems.

Purpose of Receivables Management

For a business, Receivables Management stands to be the core part as it helps in maintaining the soundness of cash flow. Receivables Management does not only mean getting paid on time from the clients or customers, but it also aids in building great relations with them and empowering the goodwill of a company. Here are some purposes for which generally a business undertakes Receivables Management.

‣ It’s a requirement
Receivables Management ensures the financial viability of a business and also ensures that cash flow comes in regularly. Thus, it’s a core requirement of any business.s
‣ Getting paid on time
Every business has the daily requirements of finance like running daily chores properly, paying bills, paying employees, etc. So, the question is if the business itself won’t get paid by its clients then how would it pay the requirements? Then, here Receivables Management comes into the picture to secure financial needs.
‣ Reduces working capital needs
Generally, a business has to make a provision to fulfill the day-to-day working capital needs. But, this provision can be cut if there is timely payment received from the clients. So, to ensure this, Receivables Management is a must.
‣ Happy customers
Receivables Management sets a proper system for billing and also getting the payment timely, which is inevitable. It also ensures that this process goes hassle-free. Thus, it makes sure that customers go through a very smooth operation of payment resulting in happy customers. That, of course, eventually means more business!
‣ Managing relations with customers
Usually, issues with customers come at the time of billing or invoicing, and mainly it is caused by some misunderstanding. But, if a business has a receivable management team separately, such possibilities get eliminated, and good relations with customers can be established and managed efficiently.

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