You're running your business and possibly your career on QuickBooks Desktop. You're able to cover nearly any accounting scenario you need with its powerful features, desktop richness and decades of development and refinement by the good folks at Intuit.
But now business is booming and you're finding that you're spending more and more time getting invoices out to customers (or your clients’ customers). QuickBooks Desktop has you covered on basic billing and it’s got the essentials for generating reminders and even accepting online payments if you have it set up the right way.
But what do you do when your A/R workload starts to reach the limits of what QuickBooks Desktop’s included A/R capabilities are built for? For instance, what if you need to set up subscriptions with complex rules for proration and renewals? What if you need to have different reminder sequences automatically assigned to new customers based on custom criteria, not just via email but using other modalities like text or postal mail? And what if you need to automate A/R activities for not just dozens of customers and invoices - but hundreds, or thousands?
For more information on this topic, check out our webinar, "Customer Invoicing in QuickBooks Desktop: From Novice to Ninja" on November 19, 2020 at 4:00 p.m. Eastern Time. You can register here.
At some point, growing businesses that run on credit sales reach a point of invoicing volume and A/R complexity that QuickBooks Desktop simply wasn’t designed to fully address. The result for most businesses at this stage can be one of three things:
You’re spending too much time just keeping your head above water with A/R. You’ve got multiple spreadsheets flying around, sticky notes on the monitor, and important billing related correspondence buried deep in your inbox. There are probably many more important activities and initiatives that are vying for your attention, and potentially not getting enough of it.
You’re not spending the time needed to perform A/R well. You’ve already recognized that A/R administrivia is not what your CEO, CFO or client hired you to do, so you haven’t prioritized it. Hence, A/R needs are not being fully addressed and critical A/R performance metrics like DSO, ART and CEI are suffering. Put simply, the business’ cash position is suboptimal or worse.
All of the above. You might be experiencing the worst of both worlds: struggling to keep up with A/R by burning the midnight oil AND underperforming on key A/R metrics and cash flow.
If any of these sound familiar, it might be time to take a look at what can be done to get out of the rut. Some businesses simply live with it and hope smoother waters lie ahead. Others decide to take drastic steps by giving in to the siren call of a 6-month (ahem 18-month) ERP implementation, and all of the cost, disruption, customization work, IT drain and staff training that comes along with it.
Fortunately, it doesn’t have to be this way. It’s now possible to take incremental steps forward that can dramatically extend the lifespan of your QuickBooks Desktop investment while reducing A/R pain and improving A/R performance.
To that end, Invoiced is proud to be sponsoring a new Insightful Accountant webinar, featuring none other than the QuickBooks Queen Laura Madeira. Attendees will get a closer look at how far A/R can go using QuickBooks Desktop alone, as well as smart, proven pathways for taking A/R past the limits of QuickBooks Desktop’s included features. The webinar will take place November 19, 2020 at 4pm ET. We hope to see you there!