Your roof starts leaking. So, you hire a contractor to put in a new one. At the end of the job, you receive a piece of paper—an invoice—from the contractor billing you for their services. And if your business sells goods or services to customers and doesn’t collect money immediately, you’ll also have to send […]
Read More What Is an Invoice? That’ll Be $400, Net 30Invoicing & Receivables Articles
Invoicing & Receivables - Tips, Training, and News
Estimate vs. Invoice: What’s the Difference?
Do you make estimates or invoices for your business? The two terms aren’t interchangeable. In fact, you may need to make both an estimate and invoice for a project. So, what’s the difference between estimate vs. invoice?
Read More Estimate vs. Invoice: What’s the Difference?
Need to Correct an Invoice? The Credit Memo Can Help
Have you ever billed a customer for a product and realized you overcharged them? Or has one of your customers ever opened a package to find damaged or defective goods? In either case, you should know about a credit memo. A credit memo can help fix these problems. Read on to learn how.
Read More Need to Correct an Invoice? The Credit Memo Can Help
Days Sales Outstanding (DSO): What Is It?
Do some of your customers pay on credit? If so, do you know how long it takes your business to collect payments from said credit sales? If not, it’s time to get to know day sales outstanding (DOS). Learn all about day sales outstanding and how to calculate DSO like a pro below.
Read More Days Sales Outstanding (DSO): What Is It?
Making the Sale With a Good Faith Agreement: What Is a Pro Forma Invoice?
It’s always great when a customer buys from your company. But what happens if the customer receives the shipment and realizes there’s something wrong with the order? Maybe the shipping costs are too high or the products aren’t exactly what they want. Whatever the issue may be, you’ve got to put in extra work to […]
Read More Making the Sale With a Good Faith Agreement: What Is a Pro Forma Invoice?
Offer Credit to Customers: The Pros and Cons
Offering credit to your customers can be a risky, but rewarding, endeavor. You need to weigh the pros and cons before you offer credit to customers.
Read More Offer Credit to Customers: The Pros and Cons
What Is the Difference Between an Invoice and a Statement?
Invoices and statements are regularly used in business. You send invoices and statements to bill customers. And, vendors send you invoices and statements so you know how much you owe. But, what is the difference between an invoice and a statement?
Read More What Is the Difference Between an Invoice and a Statement?
How to Write Off Bad Debt
When customers make purchases on credit, you expect them to pay you. If they don’t, it can be frustrating and hurt your business. You need to know how to write off bad debt when this happens.
Read More How to Write Off Bad Debt
Create a Customer Bill Payment Policy for Your Small Business
Do you struggle to collect customer bill payments? If you do not charge your customers the total bill at the point of sale, you need a payment policy to guide your customers through the payment process.
Read More Create a Customer Bill Payment Policy for Your Small Business
What Is an NSF Check? | How to Handle
So you’ve brought your product or service to market and are generating revenue. You’re well on your way to creating the business that you dreamed about. However, there could still be bumps in the road that keep you from collecting your receivables. Such as an NSF check from a customer. Not familiar? Let’s consider the […]
Read More What Is an NSF Check? | How to Handle