Online Accounts Receivable Software for Small Businesses
Surely, you still are not using the traditional methods to receive payments for the services rendered. If you do, think of simplifying your life by graduating to accounts receivable software for small businesses.
What is Accounts Receivable Software?
You can use accounts receivable software to streamline business’ accounting & financial operations. Depending on your business needs, you can choose basic accounting software that supports single-entry bookkeeping for writing cheques.
You also have the choice of latest online accounts receivable software that supports double-entry bookkeeping & accounting using a general ledger. These also provide for the efficient management of invoicing, fixed assets, & inventory.
Your growing small business benefits immensely by implementing accounts receivable software. Online systems like OneAccounting software automates your accounting tasks, eliminate manual errors, and maintain financial data.
Common Features of Accounts Receivable Systems for Small Businesses
When buying your first accounts receivable system or upgrading to a more powerful one, you should be looking for the following features:
Prepare and email customised invoices to your clients. Using AR software, you can automate recurring invoices and save time.
Use professionally designed invoice templets. Customise them by adding company information. Create a brand image by sending client-specific customised invoices.
Maintain Accounts Receivable Ledger
Tracking of paid and outstanding invoices becomes easy with the accounts receivable ledger. It stores customer info and the amounts they owe.
Each entry in the ledger stores number of the invoice, date, and amount. Accounts receivable software for small businesses makes it easy to add new invoices and deduct partially or fully paid invoices.
Accounts Receivable Chart
A dashboard presents charts for your business’ Cash In-Out, Accounts Receivable and Accounts Payable. AR software also prepares much needed ageing reports.
Accessing AR System
Online AR systems are easy to access using internet browsers in smartphone, tablets, laptop, and desktops. It puts the latest financial data stored in the central database at users fingertips for data-driven decision making.
What Do You Get with OneAccounting Software
Keeping a keen eye on the business’ cash flow is an integral part of managing a business. OneAccounting software, with its unmatched capabilities, gives you a perfect opportunity to do so.
Rule with Dashboard
The invoices with small amounts, taken together, can bring a heap of money into your business. They need to be recorded before they slip out of your mind. This online accounting software allows you to do so from anywhere and at any time.
Once the invoices are digitised, this accounting system makes it easy to track and finalise them. You can also see when they become overdue and send a reminder to your errant customer.
Filling out data in invoices is not a creative task, especially when they are for repeat transactions. With OneAccounting software, you can easily automate and schedule repeat or recurring transactions.
The dashboard in this software allows you a peek into the financial position of your business. It presents you with charts for Accounts Receivable, Accounts Payable, & Cash In-Out. Studying them, you get to know:
- Outstanding Sales Invoices
- Outstanding Purchase Invoices
- Cash Inflows and Outflow
OneAccounting also prepares an Ageing Report for you. It also enables you in accounts reconciliation.
Benefits of Online Accounts Receivable Software
Accounts Receivable and Accounts Payable reports reveal the truth about your financial. It helps you in making appropriate decisions and discharge your financial obligations. It greatly reduces stress. Following is a list of key benefits of accounts receivable software for small businesses:
Increase Disposable Income
Systems like OneAccounting Software, through accounts receivable, enables you in closing invoices as early as possible. You benefit by having more disposable income in hand. It puts you in fulfilling your financial obligations.
Planned Use of Capital
If you have money at your disposal, it means you can take vital business decisions about business growth, purchases, investment, and hiring.
Minimise Administrative Costs
When you start processing your bills digitally using an online AR system, it reduces administrative burden. Automation of billing process enables your employees, partners, and customers to do away with paper filing. It eliminates printing and stamping of documents and sending them manually.
Get Paid Sooner
Access your online AR software from anywhere and at any time to prepare and email invoices to your customers. It puts your invoice on the client’s desktop instantly and increases chances early payment. No more delay because of printing, stamping, mailing them. The software takes care of recurring invoices automatically and saves you time and efforts.
Manage AR Efficiently
Getting paid late can be frustrating. However, tracking due payments and reminding customers is more taxing. Implementation of accounts receivable software streamlines your AR processes.
Online Accounts Receivable software for small businesses take care of short and long-term accounting needs, including core accounting, financial reporting, budgeting and forecasting. It can be accessed at any time and are extremely useful the business owners that are on the move.