The InvoiceSherpa Blog

Explore thought-provoking articles, gain deep insights, and find inspiration as we delve into a diverse range of topics, sparking intellectual curiosity and fostering a community of avid learners.

Editor’s Pick

From Xero to Hero

What is Cash Flow and Why Is It Important to Your Business?

InvoiceSherpa’s Guide to QuickBooks Online

Latest Posts

Thank you! Your submission has been received!

Oops! Something went wrong while submitting the form.

What Is Days Sales Outstanding

Have you ever heard of days sales outstanding? If you run a business you need to! Think of it like the pulse of your business. It's a way to measure how quickly you're getting paid when you bill or invoice a customer. It's critical because every business runs on cash and if you run out of it, you're business can quickly go from stellar performer to broken down on the side of the road. So lets look at why it's so important.

How to Get Invoices Paid On Time

So what are some of the way you can get your invoices paid faster and on time. One of the first ways is to create a contract, nothing fancy, just a document that outlines what you're going to do for your customer and how you expect to get paid for it. It should outline what signifies completion of the word and how soon after that you expect to get paid. This usually is called the 'terms' of the invoice.

Why Outstanding Invoices Hurt Your Cash Flow

As a business it's important to always watch your cash flow. It's the way you not only pay your bills, it's also the way you grow and sustain your enterprise. Get too low on cash and you can't pay your bills, danger Will Robinson, danger! Have too much of it around (not likely I know) and you could simply be underfunding your business and holding back on growth for your business.

Make your accounts receivable process more efficient

One of the biggest challenges with any accounts receivable process is keeping consistent when following up with clients who are outstanding. Most organizations do this with a collection of spreadsheets and cross referencing notes on invoices. It's a cumbersome process that relies generally on the memory of a few people to keep track of what invoice is in what stage of the process. The ultimate problem is it's too expensive and too cumbersome to manage any process this way, especially one that is as important as accounts receivable management.

New Feature: Individual Reminder Review

Well hazaa! Today is your day. We have this feature live and in the wild. Let's talk about what it does and how it can help you manage your accounts receivable better.

Why Fees are for the Bees

Resist the temptation to put up a bunch of signs. I know you feel hurt when someone doesn't pay you, heck you're more than upset, you're pissed off. But in that moment of anger and pain, resist the temptation to create some new zero tolerance all violators will be prosecuted fee policy for all of your future and existing great customers. To understand just check out what Derek Sivers has to say about it, it's pretty awesome

Start your journey to increased cash flow today!

Connect

Sync

Collect

Try InvoiceSherpa for free