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Managing account receivable is one of the most important functions of any organization due to its importance on the business cash flow position. And, it has become a priority number one for all companies regardless of their sizes and position in their industry to manage their receivables efficiently in order to keep up and to balance their books. However, company could meet the challenge of dealing with Account Receivables by taking advantage of specialized business firm like HaaluBiz, Inc. to outsource in part or in total their receivables functions.
Why Choosing HaaluBiz Inc.,
Our experience in dealing with all aspects of account receivable is not something that too many firms can claim and focus on due to the multitude of tasks that are associated with the account receivable function itself. We have put forward an account receivable management program that offers businesses superior solutions to fix and manage their receivables.
Our staff has years of experience in business administration with heavy concentration on account receivable management (ARM) and that speak volume on the benefit and advice that we can provide to each client. And, dealing with business issues over the years have giving us the edge, understanding and knowledge based that we needed to resolve almost every issues your business could face with its account receivable.
We are a business firm that takes great care of our clients. And, as you will find when you begin your relation with HaaluBiz, Inc. because we will treat your business like if it is the only one business on earth. Our dedicated team is ready to assist you and will do the very best to meet your goal and make you a happy client.
At HaaluBiz, Inc. we can perform your typical receivable function, which is just performing the sample task of monitoring and updating customer's account, computing and updating customer's information, handling of customer inquiries, preparing and mailing invoices to issuing monthly statement and to following up on aging accounts.
However, depending on your situation, we can also help your business to determine some other aspects of the account receivables, which are not limited to those listed below:
1. Analyze customer balances by the length of time they have been unpaid
2. Allowance Method
3. Average collection period
4. Cash net realizable value
5. Concentration of credit risk
6. Credit risk ratio
7. Direct write off method
8. Find buyer for your receivable to meet cash flow demands.
9. Special projects
10. Others
Recognizing Accounts Receivable:
Initial recognition of account receivable is relatively straightforward. For a service organization, a receivable is recorded when service is provided on account. For a merchandiser, accounts receivables are recorded at the point of sales of merchandise on account when merchandise sells goods, both account receivables and sales are increased.
Type of receivable:
Accounts Receivable is amounts owed by customer on account. They result from sale of goods and services. These receivables generally are expected to be collected within 30 to 60 days and they are usually the most significant types of claim held by a company. Notes Receivable represent claims for which formal instruments of credit are issued as evidence of the debt. The credit instrument normally requires the debtor to pay interest and extends for time periods of 60 -90 days or longer. Notes and accounts receivables that result from sales transactions are often called trade receivables.
Other receivables include no trade receivables such as interest receivable, loan to company officers, advances to employees, and income taxes refundable. These are unusual; therefore, they are generally classified and reported as separate items in the balance sheet.
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