Accounts receivable turnover is a phrase that means the number of times each year that a business collects on past due accounts receivable. Measured as a ratio, the purpose of accounts receivable turnover is to determine if your business has an efficient credit policy and if your business is successfully collecting. Determining the Accounts Receivable…
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E-Invoicing: This Is What the Professionals Do
Accepting that the Internet has become a daily part of small business and law firm life is easy for most people. Who doesn’t enjoy having the answers they need at their fingertips? Yet, many small businesses and law firms have yet to embrace e-invoicing. Electronic invoicing can be scary in industries where physical paper trails…
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4 Ways to Simplify Invoicing
Invoicing is a necessity regardless of industry. Many professionals and small business owners find invoicing to be time consuming and difficult. And it can be if you don’t have good procedures in place. Here are 4 ways you can simplify your invoicing process. Stay On Top of Billing Stay on top of your billing. Often,…
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4 Essential Components You Need to Add to Your Small Business Credit Policy!
Regardless of how long you’ve been in business, you'll eventually need to decide if you want to offer credit. If you do, you'll need to create a policy to go by when you bring on a new client who wants to use credit. Written polices help you to create an order in which things are…
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