What is Accounts Receivable and Accounts Payable?
Keeping track of your receipts and receivables – their age, size, average time for turnover – reveals important trends for the management of your business. Of course your ability to pay your own obligations, maintaining access to credit, and strong relationships with your suppliers, is tied to collection of receivables.
How can RJL Business Services help?
It’s often in this arena that you’ll find our bookkeepers in conversation with you. For example, keeping you apprised of timely opportunities to make purchases or when belt-tightening is necessary.
Accounts Receivable and Accounts Payable are the foundation of your business. At the same time, they probably are the least enjoyable. After all, who likes asking, nudging and maybe even begging customers to pay? Nobody likes having to choose between punishing late payers with halted deliveries or risking more debt from those same customers.
Notably the outcome of either of these alternatives is equally challenging.
How do you continue to fund your own operations, your own financial obligations, your own marketing initiatives to grow, if the receivables never get stamped ‘paid’?
Its important to realize that our bookkeepers’ eyes are continually reviewing these numbers. Furthermore they communicate quickly with Accounts Receivable and Accounts Payable professionals on your team.
Can you really manage our AR/AP?
Likely you do not enjoy the constant need to manage Accounts Receivable and Accounts Payable. For the most part it’s uncomfortable. It can even be dangerous for your business’ health and growth.
That’s why we recommend: let us do it for you.
Streamlining and easing the process is our specialty. In fact, as your business grows, you’ll appreciate our ability to add to your team. Perhaps one of our CFO professionals and a bookkeeping assistant can manage your numbers for you. Moreover, you’ll appreciate their ability to interpret the numbers for your decision making needs.
We’ve heard more than once that carrying that weight for our clients – carrying it for you – lifts mountains of stress off shoulders that have plenty of other productive functions to handle.