Getting Paid Is Fundamental – Accounts Receivable 101
According to a recent study from Accounting Today, the average accounting firm gets paid 30-45 days after the bill is sent out and after services have been provided. As a result, the accounts receivable balance is often a burden to small accounting firms and when some of these balances never get paid, it can become ugly.
One would think that getting paid promptly would be a fundamental skill set that all accountants have and that crossing your fingers and waiting for checks to arrive in the mailbox would be a thing of the past.
To help accountants get paid much faster and get more control over accounts receivable, BYF has created a new payment processing portal that shrinks the payment gap from an average of 30-45 days to less than 5 business days on average. The resulting impact on cash flow is immediate and the uncollectible write-offs drop like a rock.
Learn why this new payment processing tool is receiving rave reviews from accounting firms.