The Accounts Receivable Services You Needed

Accounts receivable is one of the most considerable visible assets on a balance sheet, and its significance is known to all. As a business owner, your focus is on acquiring new customers; hence, you put all your time, effort and money into the same. And once you acquire new customers, your focus is to deliver the product or service in the best possible manner. After this, your focus should be on collecting all the receivables, but this ends up being neglected, thus causing trouble for business cash flow and then causing debt. It is not an ideal situation for any business. Apart from financial loss, you lose credibility as a business and might fail to meet employee payroll cheques or even day-to-day petty expenses. This raises the need for efficient accounts receivable management is crucial for your business and will help you keep the money rolling in effectively constantly. Accounts receivable outsourcing is the most effective way to go about it.

We at Whiz Consulting understand the significance of accounts receivable and thus can help you take care of your receivables. As an outsourced accounting and bookkeeping services provider, we help USA-based businesses with their accounts receivable ensuring that it does turn into bad debt. With the help of the best accounts receivable software, we will streamline your accounts receivable process and help consistent cash inflow.

Our Outsourced Accounts Receivable Services Offerings

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 Payment Gateways and the Accounting Software
Regular Follow-Ups with Debtors for Pending Invoices
Discounting the Debtors
In-Depth Analysis of Accounts Receivable Reports

If you are facing any issue related to accounts receivable, contact us. Our experts can assist you in managing your receivables efficiently, helping optimize the business's cash flow.


Benefits of Accounts Receivable Outsourcing Services

Increase Efficiency

With an outsourced partner taking care of your accounts receivable, you can increase your efficiency by focusing on acquiring new customers


The cost of accounts receivable outsourcing is much more affordable compared to hiring in-house resources or CPA.

Reduce DSO

An outsourced partner helps you reduce Days Sales Outstanding (DSO) by recording every sale, collecting receivables, and keeping up-to-date with outstanding days.

Improve Client Relationships

Outsourcing partner creates a positive barrier between you and your clients as it deals with all clients for any information or collection; this helps maintain healthy client relationships.

Why Choose Whiz Consulting?

Whiz Consulting is dedicated to providing services that will help to efficiently and effectively run your business while handling your accounting and bookkeeping needs. And with accounts receivable, we do the same. We are one of the top accounts receivable outsourcing companies in the USA, taking pride in streamlining your business's cash flow. We take it on us to ensure your customers are paying on time and chalk out those who do not pay on time.

Our accounts receivable team are highly experienced and helps you get an accurate picture of your business in terms of receivable, bad debts and so on. Using the tool of your preference, such as QuickBooks, XERO and accounting software, we will create invoices and send the same to your clients. And then, we contact your clients directly on the invoices due. With virtual accounts receivable service from Whiz Consulting, you will get specific and tailor-made services to your needs.

Outsourcing your accounting receivable needs to an expert like us will help you in regular follow-ups on unsettled invoices, negotiate with the debtors, send out regular reminders, and discount the debtors. This will help you to facilitate prompt payment and improve cash flow.


Frequently Asked Questions (FAQs)

Accounts receivable is a current asset of your business. Accounts receivable arise when customers buy goods or services on credit. These payments are yet to be received by specific due dates hence the name receivable. Payment received immediately is good for the business but not practically possible as you have to match up to the credit period offered by competitors in the industry. While it is best to avoid selling products or services on credit, each industry has a different credit cycle, which you also need to follow to keep up with competitors.
Days sales outstanding (DSO) is the calculation of the average number of days required to collect payment for a sale. It is also known as the average collection period. A lower amount of DSO means fewer days to collect the accounts receivable. Higher DSO is a bad sign and indicates that the business fund is stuck, thus not allowing reinvesting frequently.
Accounts receivable is the money your customer owes to you, while accounts payable is the money you owe to suppliers. Simply said, accounts receivable are the amount you are to receive for products or services you offer. In contrast, accounts payable are the amount payable to the suppliers and the creditor for purchasing goods or services.

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