Automating Revenue, AR & Invoices

360accountants - Portfolio - Accounting - Automating Revenue, AR & Invoices
Accounting

LLC creation service provider entity

The client was a large-scale LLC creation service provider entity. They relied on manual invoicing managed through Excel, which led to numerous issues.

Impact: Approximately 25-35% of invoicing inefficiencies. And 30-40% of issues were related to receivables and cash flow.

Causes and Effects

  • Cash Flow Problems:
    • Inefficient invoicing and tracking led to delayed payments and disruptions in cash flow.
  • Receivables Management:
    • Difficulty in managing accounts receivable (AR) and tracking outstanding invoices.
  • Operational Inefficiencies:
    • Time and resources were wasted on manual invoicing and tracking.
  • Client Relationship Challenges:
    • Ineffective follow-up processes impacted client satisfaction and relationships.

HOW I HELPED

I implemented QuickBooks Online (QBO) and automated their invoicing process. This new system provided a structured approach for generating and sending invoices, tracking paid, unpaid, and partially paid invoices, and following up with clients who had outstanding payments.

  • Revenue Streamlined:
    • Automated invoicing led to more efficient billing and revenue recognition.
  • Improved Cash Flows:
    • Enhanced invoicing processes resulted in timely payments and better cash flow management.
  • Corrected AR Balance:
    • Accurate tracking and follow-ups corrected the accounts receivable balance, reducing overdue payments.

TESTIMONIAL

“I have a problem with our sales invoicing system but Muhammad Ali ( 360 Accountants ) guided me how I can use Quickbooks for automation of sales invoices. This guidance impact my sales on larger scale, it reduce timing and increased efficiency. I am extremely satisfied with their services and will refer them to my circle.”

Project Details

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