How Good is Your Business at Getting Paid?
Once all goods and services have been delivered to a client, it’s time to collect your revenue! But how do you know if you are receiving that cash efficiently? Are your clients paying faster (or slower) than average? What can you do to speed up payments without damaging client relationships?
Answers to these questions will be explored in this and upcoming installments of Nebula Bookkeeping’s limited blog post series about payability.
Blueprint of an Invoice: The Key Elements for Speedy Payment
After the thrill of winning the client, completing the work, and sending the deliverables, you might be tempted to say that invoicing clients is a boring administrative step. But what could be more exciting than collecting the money that will fund your business?
Here are the four main elements of any invoice.
Payment Terms: Selecting the Best Terms for Your Business
What are the best payment terms to include on an invoice?
When selecting standard payment terms for your business, go for the option that will optimize cash flow while maintaining good client relationships. Here are four common payment terms to consider.
Invoices: Satisfying the Deep Human Urge for Customization
I think the deep human urge to customize is second only to the need to take online quizzes. Please tell me what my ideal perfume is based on my favorite color! So what a delight it was to grow up and become an accountant and discover that I can customize everything: spreadsheets, financial models, and invoices. Here are some of my favorite items to customize within an invoice: some cosmetic and some functional.
Want to Revamp Your Chart of Accounts? Here’s How to Do It!
Updating your Chart of Accounts (COA) might seem like a big task, but it doesn’t have to be stressful. In this post, we’ll explore three different approaches to revamping your COA, so you can choose the one that best suits your business needs and current capacity.
Do the Numbers in Your Chart of Accounts Really Matter? Here’s What You Need to Know
When setting up a Chart of Accounts (COA) for your small business, you might not choose to activate account numbers. After all, it’s the categories like income, expenses, and assets that seem most important, right?
Well, yes, but the numbers make life so much easier!
What’s a Chart of Accounts, and Does Your Small Business Actually Need One?
If you’re running a small business, you’ve probably heard the term “Chart of Accounts” (COA) tossed around by your accountant or seen it in a financial software like QuickBooks Online. But what exactly is it, and why should you care?