How a Bookkeeper can help get your invoices paid on time.

The Classic Excuses: “The Cheque’s in the Post…”

“Yeah, the cheque’s in the post”, “I can see the bank transfer at my end”, “can you send over another copy of the invoice?”

Chasing Payments is a Pain (and a Time Drain)

We’ve all heard those old chestnuts when we’re chasing payment on overdue invoices, it’s a pain, having to resend documents, checking bank accounts, waiting for your well-earned cash. So how can using a Bookkeeper to manage your receivables ledger help your business?

Cashflow is the Lifeblood of Your Business

Let’s start at the beginning (a very good place to start), having a healthy cashflow is key to having a successful business, it ensures that you have available cash to cover costs such as:

• Payroll for PAYE staff and contractors.

• Paying suppliers, utilities, rent or mortgage fees.

• Any taxes or fees due to HMRC.

What Late Payments Can Really Cost You

These sort of things, if not paid on time can incur fines, shut down trading temporarily or possibly permanently if not paid. An un-paid workforce and unpaid suppliers probably wouldn’t be best pleased, also having to rely on costly short-term loans or overdrafts to boost cashflow when invoices are overdue makes no sense. So having a healthy cashflow means the business is safe and protected from any unforeseen circumstances.

How a Bookkeeper Can Help Manage Your Receivables Ledger

Of course, all of this can takes time out of your day, but engaging with a Bookkeeper can help take the pain and strain away from getting your cash from customer's bank accounts and into yours in a timely manner.

Bookkeepers Have Seen It All (and Know What Works)

Most of us Accountants and Bookkeepers have been around for a while, so we’re pretty much seen it all. Utilising that experience can help the whole process move on quickly, we know how to manage and monitor your receivables ledger, we can provide weekly or monthly debtors reporting and complete invoice matching to your bank account, so you don’t have to be constantly checking when you could be running your business or should be relaxing.

The Tools We Use to Keep Invoices Moving

We’re able to utilise the latest software to raise your invoices and see them right through to payment. Using this software allows us to:

• Raise invoices on your behalf.

• Monitor invoice payments.

• Report on aged invoices over payment terms.

• Chase overdue invoices.

• Send out copies of invoices by email.

• Match paid invoices to bank transactions.

• Deal with any bad debts.

Even One Hour a Week Can Make a Huge Difference

Having a dedicated Bookkeeper to spend even an hour a week, going over your receivables ledger, chasing overdue invoices and getting that cash into your bank account will not only take a weight off your shoulders, it’ll ensure a healthy cashflow to support your business, it’s a win win! And having an external source chasing your invoices also holds more gravitas, helping to get those wheels in motion.

Ready to Get Paid Faster? Let’s Chat

So why not give it a go? Let us take the hard work out of invoicing so you can carry on running your business with the knowledge that you’re in safe hands. For more information click below.

How can we help?