If you're running a business or simply part of the accounts receivable department, you know that unpaid invoices can be the bane of your existence.  You need money to pay bills. You need money to invest in the business. You need those invoices paid so you don't have to make an uncomfortable phone call.

The best way to get your invoices paid on time is to determine what processes or systems work best for you and your clients. These processes will help you to improve cash flow by increasing consistency, timeliness and accuracy. 

Here are 3 focus areas and proven strategies to get your invoices paid.

As winter melts away, many of us feel inspired to refresh our homes and offices. Spring cleaning doesn't have to stop with the garage. Growing businesses also need to take this time to look at business finances.

Here are tips to cleaning up your business finances.

One of the main reasons for hiring a professional to do your taxes is when you have questions or complex tax situations. For small businesses, freelancers or startup companies, there may not be an accounting department to handle things like invoicing or other accounts receivable tasks. When you're a department of one or someone who's only wearing the accounting hat temporarily, you may have some questions such as...

Do you have to pay taxes on accounts receivable?

If you are a freelancer or own a small business, it can be tempting to do everything yourself to save money. Tax time can be especially daunting because of changes in tax laws, deductions, sending out tax forms to contractors and more. There are loads of software programs available and a free IRS website for DIY tax prep as well, which may also prompt you to do it on your own. 

Are you wondering if you should hire a professional to do your taxes instead? Consider the following:

When you work or partner with other businesses as your customers, it can be especially frustrating when they don't pay their invoices. B2B sales are much more complicated and require building relationships and trust over time. With this in mind, it may be tempting to take late or non-payment personally. Don't fall for it. 

Collect unpaid B2B invoices using friendly payment reminder services. 

When you're growing a small business, it can be overwhelming to take on tasks that aren't your strengths. After all, you started a business because you were good at something... and likely, that something wasn't invoicing or collecting accounts receivable. 

Making sales and making money are obviously necessary to grow your business. Instead of searching all over the internet for advice and sample templates, let us give you a head start.

Click on the links below to download our free resources. 

The purpose of your accounts receivable department is to invoice, monitor and collect payments for goods and services sold by your business. Your "accounts receivable" refers to any amounts due from clients or billings from any business transactions. While it seems simple enough, A/R can become quite complex when your clients aren't paying on time, your days sales outstanding (DSO) is too high or your accounts receivable turnover ratio continues to decrease.

When deciding on an A/R collection policy for your business, consider these questions.

The aim of the Enterprise Recovery Zenith blog is to inform, educate and support all who read here. Your clicks and comments determine what's important and how we can help. Within the top 10, we may also recognize trends and what's missing that we should cover in future posts.  Read on to see if there's something you missed this year.

Top 10 B2B and Accounts Receivable Blog Posts

Unless your business has a full-time bookkeeper or accounting department, your accounting records could be in a state of disarray. There could be inconsistencies and costly mistakes that could affect your business sooner than later.  Even with an accounting department, the end of the year is a practical time of year to tie up loose ends and reconcile your records. Making good business decisions, paying taxes and preparing for the future requires proper, accurate and up to date information.

Year end accounting is a great time to clean up your financial books. Here's a checklist of what to do.

Freelancing can seem glamorous when you consider being your own boss and working from anywhere.  You set your own hours, choose the type of work that you love to do and you don't have to answer to any boss. Freelance work also means that you have to handle all of the other work it takes to gain and retain clients plus continue to pay your bills. It can be especially frustrating when you have to track down client payments. 

What to do when your freelance client doesn't pay...