Accounts Receivable Management Services UK | Outsource Accounts Receivable Process

Accounts Receivable Services For Enhance Cash Inflow


Businesses are aware of the importance of accounts receivable, yet they cannot allocate their time and resource efficiency to perform the task. All the time, effort, and money you spend in acquiring new customers and delivering the products and services to the masses don't add value if equal importance is not given to collecting the receivable. It is vital to pay attention to the accounts receivable process along with customer acquisition and sales tasks. Otherwise, it may obstruct the cash flow and can result in causing debts for the company.

Every industry has its credit period that is followed by the businesses as a standard. And to beat the competition, you must follow this standard or still provide a better credit period than the competitor. And for the same reason, you can't always have transactions for which payments are made immediately. So, proper accounts receivable management is required to help you managed accounts receivable on a consistent and routine basis. If you cannot collect the accounts receivable on time, it loses its value as a current asset and can become bad debt. And this is not an ideal situation for any business. Therefore, it is vital to track accounts receivable.

Whiz Consulting provides outsourced accounts receivable services to UK-based businesses and helps them manage and control their cash flow efficiently. As one of the UK's leading accounts receivable outsourcing companies, we have served many businesses belonging to different industries. We help businesses with their accounts receivable ensuring that it does turn into bad debt. Our accounts receivable experts will track your accounts receivable regularly and help monitor any irregularities. We help you bill a customer on time and help track the payment status, and raise a red flag when an account is due for an extended period. Outsourcing accounts receivable management from Whiz Consulting will enable you to control your accounts receivable without compromising your core activity.

Accounts Receivable Services We Provide


...
Maintaining a record of the bills
...
Regular billing and delivery to customers
...
Creation of invoice
...
Record of received payments
...
Adjusting the payments with invoices
...
Linking the Accounting software and Payment Gateways
...
Constant follow-ups with debtors for pending invoices
...
Discounting the debtors
...
In-depth analysis of accounts receivable reports

For accounts receivable solutions specific to your business, get in touch with our experts today!

You can trust us to handle your small business accounting and bookkeeping adeptly or for large-scale businesses.

Contact us, to know more!

Why Should You Outsource Accounts Receivable Services?


Outsource accounts receivable services can help you in the following manner –

Enhance Efficiency

You can invest your time, effort, and money in acquiring new customers instead of utilising your time on following up on receivables, hence increase efficiency.

Cost-Effective

Hiring outsourced accounts receivable services cost will be much more affordable than hiring a full-time accountant or CPA.

Reduce DSO

Outsource partner records every sale and collect all receivables keeping in mind the outstanding days, thus helping reduce Days Sales Outstanding (DSO).

Client Relationships

Outsource partner helping to create a positive barrier between you and your clients by acting on your behalf, thus helping maintain healthy relationships.

Why Choose Whiz Consulting for Outsource Accounts Receivable Services?


At Whiz Consulting, we assist our customers to streamline the cash flow for UK-based businesses. Once you outsource accounts receivable to us, we will ensure that every client pays regularly and emphasise those who do not. Our highly experienced accountants and bookkeepers at Whiz Consulting will provide an accurate picture of your business regarding any receivables, bad debts, and so on. We take on us to ensure invoices are prepared and email to your clients using your preferred tool such as QuickBooks, XERO etc. We then follow up and connect with your clients directly on the invoices due date. When you outsource accounts receivable service to Whiz Consulting, our experts will understand your needs to provide you with specific and customised service.

Outsource accounting service to an expert like us to let you help with handling the task of regular follow-ups on the unsettled invoices, negotiate with the debtors, send out periodic reminders, and discount the debtors who facilitate prompt payment. Partner with us for accounts receivable outsource service today and be assured of improving cash flow for your business.

Frequently Asked Questions (FAQs)


When your customers buy goods or services on credit, the amount due by all your customers makes up the accounts receivable account. While it is best to avoid selling products or services on credit, it is inevitable to run a business.
Days sales outstanding, also known as average collection period, is the average number of days required to collect payment for a sale. A low DSO implies it takes fewer days to collect the accounts receivable, which will enable the business to reinvest its cash. In contrast, high DSO indicates that the business fund is stuck, thus not frequently reinvest.
Accounts receivable are the amount you are to receive for products or services you offered. In contrast, accounts payable are the amount payable to the suppliers and the creditor to purchase goods or services.

Get 30 Mins Free Personalized Consultancy