Your CPA offers a wide menu of services. One flexible offering, known as an “agreed-upon procedures” engagement, provides limited assurance on a specific aspect of an organization’s financial or nonfinancial information. What’s covered? Agreed-upon procedures can cover various items. For example, a CPA could provide a statement about the reliability
In today’s volatile market conditions, it’s important to review your accounts receivable ledger and consider writing off stale, uncollectible accounts. The methods that you’ve used in the past to evaluate bad debts may no longer make sense. Here’s how to keep your allowance up to date. Know the Rules Under
No matter the size or shape of a business, one really can’t overstate the importance of sound accounts receivable policies and procedures. Without a strong and steady inflow of cash, even the most wildly successful company will likely stumble and could even collapse. If your collections aren’t as efficient as
Collecting your accounts receivable (AR) in a timely manner can head off multiple financial issues for your company, including poor cash flow and the inability to pay bills. Here are 5 ways to manage your your receivables for more timely collections: 1. Re-evaluate your invoices. Customers prefer bills that are
How long will you take to collect the outstanding receivables that are reported on your balance sheet? Many companies take weeks or even months to collect invoices from customers. Fortunately, there are ways to convert them into cash now. Line of credit A line of credit can help bridge the
