Best QuickBooks Consulting & Training in Burbank, CA

1. Outsource your AR and collections processes. One of our clients utilizes TADS tuition system. It’s a cost-effective system that handles collections and invoicing. It implements standard late fees. We like this because it takes the “feelings” and “emotions” out of collections. We often find that when clients outsource AR and collections to us or any third party they have less aged receivables. Create a process and system that executives approve of but then leave them out of the actual process. 2. Utilize services that process electronic payments. When you send invoices via a service like Bill.com or Quickbooks, your client can simply click on the link and pay the invoice, reducing the amount of time it takes for the payment to get from the client to your bank account. In times of COVID and issues with US Mail, this is the best way to get your payments on time. Yes, these applications come with fees, but consider it the cost of doing business and the amount of time you save by not having to deal with the mail and paper checks. 3. Put it in your contract. From the invoicing process to due dates, all invoicing terms, AP contact info, how payment is accepted, to specific late fees, should all be in your contract from the start. Default on any part of the contract gives you a leg to stand on when things start to get messy. #asklafm #tipsandtricks #lafinancialmanagement #finance #financialmanagement #accountingsupport #outsourcedcfo #businessresources #accountingdepartment...