With a total automation application like CONSULT, any IT staffing firm can achieve a 100% success rate in the accounts receivable process. One of the main objectives of the automation application is to enhance the features of QuickBooks and the other is to give additional features that are specific to the staffing business. QuickBooks is a general accounting solution and does not include features that are specific to any industry or user type. To give that extra power, you will have to integrate an add-on and provide additional muscle to empower your accountants to achieve more and increase ROI.
Here are a few things your accountants should do to raise your AR success rate to 100% – believe us; it is achievable and in a short period. CONSULT works in coordination with QuickBooks and therefore does not entail your organization to buy or migrate to an alien accounting program. It is a sophisticated AI-driven application capable of cutting down operational costs in the accounts department by up to 90%.
Factors that Raise Success Rate to 100% in AR
1. CONSULT is reputed for generating impeccable accurate invoices that your customers will readily accept and forward for payment processing. How is this possible? It is possible because CONSULT ensures that every step in invoicing is done precisely and adheres to standardized quality. It starts on the day an agreement is written for supplying consultants and subcontractors enrolling for the customer.
2. Every detail – consultant destination, place of work, taxable state, applicable tax rates, and subcontractor location state, staffing company domicile state, billing rates, perks, billable rates and performance conditions for discounts or incentives for early completion are all entered in the application so that accountants are never required to go through these mundane activities again and again when there are a series of invoices to make.
3. CONSULT prepares your accountants to be fighting-fit any time an invoicing task comes in. The application works with clockwork precision making it a 100% perfect tool that can be trusted to perform like a veteran. The most noteworthy point about the application is its direct timesheet capture and processing ability. It can receive consultant and subcontractor timesheet submission in digital format directly and keep it ready for QuickBooks to act on the data in seconds.
4. The success rate in accounts receivable is directly proportional to how frequently you can automatically remind your customers to pay on time and get big discounts in return. CONSULT Invoice Automation Software is designed to send reminders automatically at any frequency rate until a payment has been made successfully. You don’t even have to look into your books of accounts to know when to stop; the program will do it automatically because it is integrated with QuickBooks and knows when to stop exactly.
With CONSULT invoicing processing working at top accuracy, submission of invoices with proper discounts and timely delivery of invoices, your payment receipts will never falter. Your cash flow too will have a smooth sailing.