Automate Your Invoicing Process

TakinG Charge

Growing your business cab be frustrating if you don't have operating system in place. Without proper systems, your employees are more likely to make mistakes, which can lead to a loss of business. Consider this tips to process invoices more efficiently.

Creating an operation manual is a solid first step.

Your company may see several benefits from this process.

Writting an effective procedure forces everyone involved to carefully think about what needs to be done, and in what order.

As you write the procedure, you may come up with a better way to complete the task.

Writting an effective procedure forces everyone involved to carefully think about what needs to be done, and in what order.

All of the variables that could come up should be covered in the operations manual Rather than stopping to ask someone for help, the worker can refer to the manual to get questions answered.

Your operations manual becomes your system for completing work.

A critically important operartion in your business is invoicing clients.

Invoicing aects both your cash collections and the company’s pro

As your sales grow, you’ll send more invoices to clients.

Your invoicing system, for example, will dictate when you send invoices to customers.

You may invoice weekly or on the last day of the month. Most companies invoice when the product is shipped, or when the service has been completed.

If you have longstanding and reliable clients, you may not send an invoice until total sales reach a specific dollar amount.

If you don’t invoice customers quickly, you’re not only slowing down the cash collection process but also putting the company at risk from a cash flow perspective.

To increase protability, you need to send more invoices without increasing costs at the same rate.

In othe words, the time it takes to process one invoice must be reduced.

Naturally, that means your customers are sporting goods stores.

Let’s assume you manufacture and sell baseball gloves.

Your client submits purchase orders by completing a form on your website.

Let’s assume you manufacture and sell baseball gloves.

You get paid in a timely manner Your emails the invoice to each customer.

The invoice clerk in the accounting department generates an invoice and includes a copy with the shipment.

All this is possible because you were able to automate your invoicing process.

There are many softwares packages that can handle your accounting and invoicing processes.

One of the most popular is QuickBooks Online.

creating a written procedure is one way to speed up the invoicing process.

If the procedure thoroughly covers the process, the invoice clerk will be able to work with fewer delays.

Another improvement is to standardize your automated invoices.

Try to create one template that all of your invoicing needs.

The fewer changes that need to be made, the faster the process will go.

Take charge of your invoicing process. Use these tips to speed up your cash collections and grow your business and protability.

Source: http://www.bluevine.com/take-charge-of-your-invoicing/ https://www.facebook.com/unitedcapitalfunding http://www.twitter.com/ucfundingcorp