April 6, 2020  

Managing Payments and Receivables


Gaebler.com is a daily online magazine covering small business news. We help entrepreneurs transform ideas and innovations into greatness.

Payments and receivables are the lifeblood of a small business -- without the right tools, your business could face a serious cash flow crunch. Our tips on managing payments and receivables will equip you with strategies to maintain positive cash flow in your business.

Managing Payments and Receivables

  • Credit Card Processing - For entrepreneurs big and small, accepting credit cards has become essential. As we move to a cashless society, not accepting credit cards could prove to be a big mistake.
  • Receivables Factoring - Factoring receivables can get you out of a cash flow crunch in a hurry. For the peace of mind of knowing that you have money in the bank, the cost of factoring receivables is well worth the price.
  • Online Billing Service Review - Online invoicing and billing solutions have come of age. We take a look at BillMyClients.com, a web-based e-invoicing solution that provides a powerful yet elegantly simple billing solution that is perfect for small business owners and freelancers.
  • Collect Slow, Pay Fast - Collect slow, pay fast? Have we got it backwards? No. Sometimes you can do well by ignoring conventional business wisdom.
  • Electronic Invoicing - Electronic invoicing (e-invoicing) is all the rage. Instead of sending out paper invoices in the mail, why not send invoices by email directly to your customer?
  • Invoicing - Invoicing is the lifeblood of small businesses. Getting invoicing wrong can result in cash flow problems at best, and business failure in the worst case.

  • Tips for Collecting Receivables - While itís not one of the most enjoyable parts of small business ownership, collecting receivables is one of the most important.
  • How to Collect Receivables from Dodgy Customers - Often small businesses suffer from a crunch in cash flow because some of their customers dodge payments. Here is how you can make your customers pay up on time.
  • Managing Cash Flow in a Small Enterprise - While many businesses go under for lack of customers and for a consistent inability to make useful profits, there is a third reason for business downfall that lurks behind the two. This reason is negative cash flow and it is that situation where a business' operation costs are always greater than the payments being received.
  • Accepting Cash and Checks - Does your small business accept payments via cash and checks? If so, be sure to establish payment and collection policies, and make sure you understand the laws that regulate them.
  • Account Record - If you're having trouble staying on top of accounts receivable, your revenue stream is in serious jeopardy. Keeping a detailed account record for each of your customers can quickly turn things around.
  • Customer Credit Analysis - It's painful to hear, but your business could have avoided writing off a large percentage of no-pay customers. All you needed was a customer credit analysis process.
  • New Account Credit Approval - Extending credit to customers is a common small business practice. But without a new credit approval form, you'll have a hard time keeping track of your credit accounts. We'll tell you the key elements to include in your company's credit approval forms.
  • 7 Small Business Invoicing Mistakes - Making the sale is only half the battle. The other half comes down to your ability to effectively invoice and collect customer payments.
  • Advantages of Automated Invoicing - Think traditional paper invoicing is good enough for your small business? The numbers tell a very different story and make a strong case for migration to an automated invoicing system.




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