TakinG Charge

Growing your business cab be frustrating if youdon't have operating system in place. Withoutproper 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 anoperation manualis a solid first step.

Your company may see several benefitsfrom this process.

Writting aneffective

procedure forceseveryone involvedto carefully think

about what needsto be done, and in

what order.

As you write theprocedure, youmay come up

with a better wayto complete the

task.

Writting aneffective

procedure forceseveryone involvedto carefully think

about what needsto be done, and in

what order.

All of the variables that could come up shouldbe covered in theoperations manual

Rather than stopping to ask someone forhelp, the worker can refer to the manual to get questionsanswered.

Your operationsmanual becomesyour system for completing work.

A critically importantoperartion in your

business is invoicingclients.

Invoicing aectsboth your cash

collections and thecompany’s pro

As your sales grow,you’ll send more

invoices to clients.

Your invoicing system, forexample, will dictate

when you send invoices to customers.

You may invoice weeklyor on the last day of themonth. Most companies

invoice when theproduct is shipped, orwhen the service has

been completed.

If you havelongstanding and

reliable clients, youmay not send aninvoice until total

sales reach a specificdollar amount.

If you don’t invoice customersquickly, you’re not only slowing

down the cash collection processbut also putting the company at

risk from a cash flow perspective.

To increase protability,you need to send more

invoices withoutincreasing costs at the

same rate.

In othe words, the time ittakes to process one invoice

must be reduced.

Let’s assume youmanufacture and

sell baseballgloves.

Naturally, that meansyour customers are

sporting goodsstores.

Your clientsubmits purchase

orders bycompleting a formon your website.

Let’s assume youmanufacture and

sell baseballgloves.

The invoice clerk in theaccounting department

generates an invoiceand includes a copy with

the shipment.

Youremails the invoiceto each customer.

You get paid in atimely manner

All this is possiblebecause you were able

to automate yourinvoicing process.

There are many softwarespackages that can

handle your accountingand invoicing processes.

One of the mostpopular is QuickBooks

Online.

creating a writtenprocedure is one

way to speed up theinvoicing process.

If the procedurethoroughly covers theprocess, the invoiceclerk will be able to

work with fewer delays.

Anotherimprovement is tostandardize your

automated invoices.

Take charge of yourinvoicing process. Usethese tips to speed upyour cash collections

and grow your business and protability.

The fewer changesthat need to be

made, the faster theprocess will go.

Try to create onetemplate that

all of yourinvoicing needs.

Source: http://www.bluevine.com/take-charge-of-your-invoicing/

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