5 Tips To Make Your Account Reconciliation Process Easier
Very few accountants will rank the account reconciliation process as one of their top favourite tasks to do. Throw in human error and the complexity of spreadsheets required to pull this off, and it becomes more and more frustrating. The good news is, it doesn’t have to be that way. Try ...
The way that wholesale customers pay is changing; and we can prove it.
Getting paid for the work you do is usually a given, however, in the world of wholesale product supply, things work differently. Providing delayed payment terms means trying to get paid can be time-consuming, annoying and dangerous. Why dangerous? Because when buyers don’t pay, suppliers...
Implementing Xero payments with Pencil Pay
Setting up Xero Payments is easy. You’ve done all the hard work by winning clients, doing the work and sending them an invoice with your accounting software like Xero. Yet, more than 50% of all invoices are paid late and 4% are not paid at all. There are many reasons why it is hard to [&...
The Best Way to Reconcile Invoices
Reconciling your customers invoices is an important step in your accounting process. Not paying proper attention to this can not only cost your business revenue but also affect the relationship of those you do business with. Shockingly, a large number of small businesses and SMEs skip this...
5 steps to improve your accounts receivable process
Running a business means constantly shifting focus – you’re so busy in the day-to-day, that it can be hard to keep track of all the moving parts. Pencil, on the other hand, is in a unique position. We have a birds eye view of the businesses we work with, which gives us special insight ...
5 Ways For Freelancers To Get Their Invoices Paid On Time
Managing your cash flow as a freelancer can be a difficult task. When clients are late with payments and invoices are ignored this can really have a negative impact on your lifestyle and stress levels. Freelancers are constantly having trouble collecting payments from their client but this...
8 Common Invoicing Mistakes
Sending invoices to your customers is obviously a very important step in receiving payment. But you would be surprised to learn that many business owners have a poorly constructed invoicing system and mistakes are made constantly. These small invoicing mistakes can lead to larger probl...