Friday, 19 December 2014

Avoid Forgotten Payments With Electronic Quotes and Invoices

Accounts Receivable is money that your business is owed, but does not yet have. According to The Telegraph, the average company is waiting 30 days longer for payments than was agreed under contracts. How widespread is this problem? According to Rocket Lawyers survey of 937 small businesses, the number of companies who have trouble collecting payments from customers is one in four. These cash flow delays can pose a serious risk to small businesses.

While there are cases where a client will intentionally put off paying an invoice, as a business you want to eliminate as much friction to cash flow as possibleyou do not want there to be an excuse. Maybe a late invoice was misplaced by the client and forgotten. Maybe the payment was sent out, but has actually been lost in the mail. (A cliche, but sometimes dogs really do eat homework.) It is even possibleespecially if you are dealing with paper invoices and chequesthat the invoice was misplaced in your mailroom and did not get cashed by your accountant.

OfficeBooks is designed to make sales and invoicing as frictionless as possible for your business and clients:
       Frictionless quotes and invoices: OfficeBooks allows businesses to electronically send quotes before the work begins. As soon as the client signs off on the quote, an invoices arrives. With OfficeBooks, lost in the mail is no longer an excuse.
       Frictionless payment: OfficeBooks integration with Stripe means clients have the option to pay immediately through link in the invoice itself. Stripe does not even require the business to have a merchant account.
       Frictionless integration: With QuickBooks integration, your accountant can have access to every sale you make in OfficeBooks. OfficeBooks is even available through Intuits App Center. 

Small business advisors agree that e-invoicing is better than paper. Does your business still have trouble collecting money from customers?

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