July 24, 2020
Enhance Cash Flow with
Cash flow is the lifeline of businesses whether small, big or multinational enterprises. When cash flow is chocked, everything goes topsy-turvy, especially accounts receivables will come under severe strain. There will be less cash to pay vendors, employees and even a planned expansion program will be delayed. Recovering from a cash crunch is extremely difficult and may take months or even years to normalize. How do companies and business first of all get into the cash flow trap? Falling into the trap is easy and it can happen to any business.
Here are a few ways to fine tune your cash flow:
Fine tune your billing system. If you are stilling maintaining all your accounts in papers then you should shift to a computerized format. Making manual entries into account books is not only time consuming but also prone to erroneous records in your records. There are many accounting software in the market, but then there is nothing like QuickBooks that dominates the accounting software market. This is not the end of the story and a software alone cannot put an end to all cash flow owes. You must consider a few enhancements like CONSULT ® that provides value for money. More about this later.
Put in place invoicing software that will work in tandem with the main accounting software. Though popular accounting automation software reduces head counts substantially in the accounting department, chances are that you are not reaping any benefits. Invoicing software like CONSULT ® adds that extra punch by streamlining the billing process. CONSULT ® shrinks no less than half a dozen steps that lead to the printing and dispatch of invoices and increase productivity. Please remember that higher productivity means higher profit.
Poplar features to look for in invoicing software. Before ordering an invoicing software ensure that it has been made exclusively for QuickBooks, an accounting software that 90% or more businesses, bookkeepers, accountants and CPAs in the US use for maintaining books of accounts.
Prefer a SaaS (software as a service) that you can subscribe and start to use readily. You get freedom from buying frequent updates, installation and maintenance.
If you are staffing company, check whether features include a Vendor Management System (VMS) module; if it does, great then. It will help you to pay bills and avoid overpayment.
A dashboard is a must for accounts automation software. It provides users an overall view of the information that users can use and interpret results accurately.
One of the top features to look for is automatic tax calculation. This feature is great for saving tax legally. It will prevent the generation of bloated bills that will make you pay taxes where you don’t have to.
CONSULT ® is robust accounting SaaS that businesses trust for automating accounts, streamlining A/R processes and managing vendor payment. Pricing is affordable and simple. You can ask for no-obligation 14 days trial.