There are many different ways that we process our client’s billing to their customers. A lot of our clients prepare their own billings in-house. We’ve found that clients have a good handle on how to invoice their customers. They know what products or services were provided, when they were provided, and for how much. For those clients it is just a matter of how to get the information into the accounting system. When clients prepare their own invoices we receive the billing information from them after the fact and enter it into the system in order to record the sales and track accounts receivable. Other clients choose to let us do the entire process and we receive information from them regarding what to bill. We create invoices and mail them out.
Payments received from Customers are deposited into the bank as they are received and posted to the corresponding open invoice on our system to indicate that payment has been made against a specific invoice. Depending upon the needs of the client, processing can be done daily, weekly or even monthly.
Accounts Receivable aging reports are available to monitor outstanding customer balances.