Manage Your Companies Cash Flow in QuickBooks
As we know that the people who are involved with businesses or running their own small businesses in all over the world are using several accounting solutions and QuickBooks is one of the most used software they use to manage their finances.
QuickBooks enhances your business deals and also helps to improve the cash flow of your business. This article holds some of the important factors which are necessary to increase the cash flow in QuickBooks.
Improve Cash Flow Management: There are uniform methods which can help you manage your cash flow. The below mentioned things may help you to have a clear vision to improve cash flow in QuickBooks.
QuickBooks Report Generation:
There are several reasons why people who are in small business, consider QuickBooks the best solution:
- The best features in QuickBooks is the “Accounts Receivable Aging Summary” report under the report menu. In this report, you can view the status of the pending/unpaid invoices. This report can be reviewed on Monday basis.
- You can track the customers with overdue balance. It is a good idea for most of the small business owners to get back their cash from overdue customers.
- QuickBooks Company file is linked with the Microsoft Word in order to prepare many new benefits to the businessmen. The customers can own the best pre-written collection letters available online.
- You can also control the limit of letter versions to the customers who have an overdue balance.
- It helps you to plan for letter templates which may be very useful for the credit application letters.
- It is useful for addressing NSF cheques.
- In order to increase cash flow management, it is necessary to have customer tracking.
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Tools in QuickBooks for cash flow management
- Some tools are available in QuickBooks that really help you to increase the management of cash flow for your business. The following options may help you to have the best cash flow in your management
- QuickBooks has an inbuilt feature that allows you to customize invoice templates
- QuickBooks allows you to set-up reminders for the invoices including the overdue invoices
- It summarizes the invoice details to the customers waiting for a clear invoice report
- It can help you to set-up finance charges during the stage of overdue payments
- Reducing the collection period on average may greatly help in having a drastic impact on the cash flow in QuickBooks of your company. And so, it is necessary to use these tools to have right cash flow management
If you are seeking professional help, then please get in touch with our QuickBooks Customer Support Number (Toll-Free) & speak to Certified QuickBooks ProAdvisors Team.
You ever feel the need of taking advice from your fellow business owners that happened to be our existing subscribers, you can visit our thriving QuickBooks Community.