Description
Gain a comprehensive guide to managing your invoicing systems and identifying ways to implement effective invoicing and receipting procedures.
Many business owners take for granted the importance of having a systematic invoicing and receipting procedure in place and how it can seriously affect cash flow and bad debt. Businesses often do not understand that their invoice format and procedure alone can determine payment or not. Poor procedures can lead to delays in payment or no payment at all. Systematic tracking of payments is also key to determining what goods or services have been paid and what is still outstanding. This topic helps the persons responsible for invoicing and receipting to understand how first to establish a tracking system and then what is required to carry the processes out effectively and explains the impact of not resolving payment discrepancies in a timely fashion. Failure to bill accurately and collect timely is the downfall of many businesses. This is critical for any business that wants to get paid.
Date: 2023-07-19 Start Time: 1:00 PM ET End Time: 2:05 PM ET
Learning Objectives
* You will be able to discuss the role and crucial function of your billing department.
* You will be able to explain to your staff how to proactively manage your systems to maximize cash flow.
* You will be able to identify ways to implement effective invoicing and receipting procedures.
* You will be able to review pitfalls in your current invoicing and receipting function.