Accounts Receivable outsourcing service (AR) is the proceeds or payment which the company will receive from its customers who have purchased its goods & services on credit. Usually the credit period is short ranging from few days to months or in some cases maybe a year.
Proper management of cash flow is essential to all kinds of businesses. One of the most essential activities in the process is accounts receivable management. Accounts receivable outsourcing services are where customers owe the company money from the sales of goods or services.
This is the income that a company makes, which enables it to cater for expenses. As such, their management is essential and a must.
Accounts receivable outsourcing services may seem easy for many, but it can be complicated as it involves a lot of invoicing and sharing credit to customers. Given the scope of a business, terms of agreements, and the number of clients, it is vital to have a system that manages outstanding funds.
Accounts receivable outsourcing services provide monitor invoices, reduces collection times, track process times, increase timely payment rates, and more to improve the process.
Fair and Square Accounting and Bookkeeping Services, provides account receivable outsourcing services to companies all over UAE, to ease the accounts receivable management services.
Scope of Accounts Receivable Services:
- Customer Analytics service: helps you in analyzing customer transactions to determine which customer or industry will help you generate highest revenue.
- Invoices: Helps you to track paid, unpaid and upcoming payments from customers do you always know the state of the cash flow.
- Aging Analysis service: Accounts receivable aging analysis is the process of distinguishing open accounts receivables based on the length of time an invoice has been outstanding. Accounts receivable aging analysis is useful in determining the allowance for doubtful accounts. The aged receivables report tabulates those invoices owed by length, often in 30-day segments, for quick reference.