BEST PRACTICES TO EFFICIENTLY COLLECT RECEIVABLES

BEST PRACTICES TO EFFICIENTLY COLLECT RECEIVABLES

In this post, we share best practices businesses need to manage account receivables as efficiently as possible to prevent cash-flow crises. Successfully managing your company’s collection activities is not easy task and even more difficult if you are using spreadsheets, post-it notes, or manually compiled customer lists.

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old-computerRead the Warning Signs, and Save Time, Money, and Valuable Resources by Updating Your Accounting Software

When it comes to technology, there are those who can’t wait to upgrade. These are the compulsive buyers. They will preorder the latest iDevice months before it’s released, and still upgrade to the latest model a year later.

Then there are the neophobes, or those with a fear of the new and novel. These buyers will go years without an upgrade, no matter how worse for wear their devices are. Or they’ll wait until the last minute—until the wheels have literally and figuratively fallen off the wagon—to buy something new.

In either case, we can take away one thing: All technology ages, and that includes accounting software. And while it’s ok to want to get the most out of your software investment, there will come a point when your outdated accounting software will stop saving you money and start costing you not only money, but time and resources.

Choosing Accounting Software8 Factors to Consider in Your Search for Small Business Accounting Solutions

Finding the right accounting software doesn’t have to be difficult. In fact, it’s not as challenging as you think. The right small business accounting software is the solution to your accounting needs. And compared to inefficient and error-prone manual spreadsheets, the right accounting software will save you time and money.

Bookkeeping isn’t the most exciting task. Some 40 percent of business owners surveyed in 2015 by the nonprofit SCORE said it’s their least favorite part of owning a business. That makes sense. You want to run your business, not spend 80-plus hours a year on bookkeeping and taxes. The right accounting software puts everything you need for efficient financial management and bookkeeping at your fingertips.

4 Pro Tips for Preparing Your Year-End Financial CloseHow You Can Close the Books and Ring in the New Fiscal Year on Time

It takes 60 seconds for the ball in New York’s Times Square to drop 141 feet and officially ring in the New Year. That’s not a lot of time to consider all the things you want to accomplish in the next 365 days, let alone think about all the things you didn’t quite get to before 11:59 on December 31.

Nonetheless, as you’re contemplating you quarter-one goals, and why you didn’t quite get around to running that marathon, you don’t also want to be confronted by the things you could have done better or devoted more time to, including your year-end financial close.

With the end of the year so near, we’re giving you our top four pro tips for ensuring your books are closed well before the clock strikes 12.

income-taxes-spreadsheetWhen Your Accounting Software Evolves With Your Needs, Your Business Improves

When you’re first starting out in business, QuickBooks is a viable option for your accounting needs. It came highly recommended by your CPA, and at an affordable price, it seemed like a smart move. With simple accounting needs, QuickBooks was straightforward and easy to implement.

But QuickBooks is only your first step. Think about it this way: You can’t improve your business by doing the same thing over and over, hoping for different results. In order to move forward, you have to change, adapt, and try new tactics. As your business grows (or starts to grow), you might notice your needs change and become more complex.

bsd-distr-blogimageMary works at West Boise Sewer District.

Hired as an office manager in 2012, her responsibilities span bookkeeping, inventory, scheduling, inter-office diplomacy, customer service, reporting to the board, and software maintenance.

She is warm, wry, and the epitome of “high-functioning”. Having worked as an accountant (at a bank, light-manufacturing company and nonprofit), as an auditor (for both the IRS and an independent nonprofit), and as a controller for a national nonprofit, her credentials are significant.

So when Mary says she labored through the first two years at West Boise Sewer District (WBSD) it should be noted that her own skill wasn’t what was deficient.

Cougar Mountain Software develops leading on-premises accounting solutions. Our hallmark software, DENALI, is specifically designed to scale to clients’ needs while maintaining an unbreakable audit trail.