It’s important to set up a process for regularly invoicing your customers and reviewing your accounts receivable. The frequency at which you send invoices typically dictates the frequency at which you will receive payment. QuickBooks makes it easy to run the A/R aging report to see which customers are late with their payments, and to review your cash flow statement to see how much cash you have on hand to pay bills.Īccounts receivable is recorded on a business’s balance sheet as a current asset, as it is a promise for payment for goods or services that you provided your customer. If you have too much money tied up in accounts receivable, you may not have the cash you need to pay your bills today. Once an invoice is sent, your customer will typically pay within 30 days to 60 days. QuickBooks makes it easy to customize and send invoices, accept credit card payments, track incoming payments for each invoice, and generate reports. You can speed up accounts receivable by invoicing customers regularly, accepting credit cards, and by using discounts to incentivize early payment. It’s important to setup a process for regularly invoicing your customers and reviewing your accounts receivable (the amount of money that customers owe you). In just a few clicks you can send statement reminders to customers that are late paying you.
QuickBooks helps you manage accounts receivable by tracking invoices, payments, and identifying your delinquent accounts. Businesses with accounts receivable typically issue invoices at a later date.
Accounts receivable are created when a customer purchases your goods or services but does not pay for them at the time of purchase.
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