Batch Invoicing- what does it mean and when to use
February 22, 2019 1:59 pm | by John Adams
Your invoice is a record of work done. Without one it’s hard for clients to understand what they are paying for. The ability to track invoices sent, paid and due is fundamental to your cash flow. Creating and sending a large number of periodic invoices can be very time consuming but on the other hand, a backlog of invoices, missing invoices, can be critical to business success and customer experience. That’s where batch invoicing comes in handy.
Batch invoicing involves bundling different invoices together to be processed as one. It allows you to handle large volumes of documents quickly. This improves process efficiency, saves time and effort by skipping repetitive tasks like data input, and ultimately, reduces the risk of human error. Batching can occur whenever nominated- monthly, weekly or any specification for your workflow and clients. It minimises the amount of individual attention required for the task which means, no more processing or sending emails individually. Similarly, when it comes time to pay your bills, you can batch all invoices you received from suppliers together and pay all the invoices at once.
SapphireOne batch invoicing functionality processes, sends and records all invoice transactions
SapphireOne allows you to select a group of invoices to email or print. Regular or periodic invoicing helps you increase productivity by billing multiple clients all at once so you can focus on other important tasks. Sending invoices on the same day of each month is more likely to result in regular and reliable payments.
Getting Started to Batch Email Invoices in SapphireOne
- Go to Inventory Mode
- Select Sales in the top tool bar then Invoices
- In Print destination select Email
- Report type will automatically format to Batch Email
- Report Sort Order field, choose how you would like to sort
- Report Selection, choose Include Printed for printed option
- Sequence by fields provided
- Hit Print for Batch Email Invoices Screen
- Select ones to be included
- In Attach Report, choose the report type or Custom Report, for customised invoice
- Tick Import to document after send if you would like to keep a record in SapphireOne documents
- Then press Send
Click for more information regarding improvements and features within the latest release of SapphireOne ERP, CRM, DMS and Business Accounting Software Application. Alternatively, contact our office on (02) 8362 4500 or request a demo.
Accounts Receivable Alerts ensures prompt payments
February 14, 2019 10:25 am | by John Adams
No one likes having money owed, it’s important to stay on top of your customer invoices. Businesses can prioritise sales and fall into the trap of extending credit to customers, offering discounts or ignoring payment terms if it means winning new sales. Regardless of how many sales your company makes, this becomes meaningless if you are not being paid on time. Not getting paid can lead to cash flow issues which can impact your ability to pay vendor bills, meet payroll or other obligations. You need to consider customers are sometimes not respectful or just forgetful in paying invoices, so keeping track of payment dates, when invoices are sent and due is fundamental. Accounts receivable alerts helps you stay in control of your invoicing.
SapphireOne Workflow with Accounts Receivable Alerts Enables Friendly Reminders to Employees and Customers
Collection efforts should be consistent and methodical. When processes are automated as much as possible you reduce the risk of errors from manual entry.
In SapphireOne ERP you can set up a workflow of alerts for ageing receivables. These accounts receivable alerts can be emailed to your relevant employees when the balance is near, due or outstanding. Friendly reminder emails can also be scheduled to your customers. You can create unlimited workflows with credit control reminders in SapphireOne.
Best email practices when asking for payments
It is always a good practice to set up an initial reminder one week before the Invoice Due Date. Keep it polite and in your Email Subject mention it is a follow up on the invoice #. The body of the email should be short, friendly and informative. This will also advise customers that you are on top of your invoices.
The next email should be created on the Day the Payment is due. In your Email Subject mention the invoice # and that it is due today. Keep it short and friendly and mention it is a reminder as technically the customers are not late in paying.
When the payment is overdue, and depending on your credit terms, you can send a more direct email. In the subject let them know which invoice is overdue and by how long. Ask for payment, list payment methods, and let them know what will happen to their account if not paid in time.
Click for more information regarding improvements and features within the latest release of SapphireOne ERP, CRM, DMS and Business Accounting Application. Alternatively, contact our office on (02) 8362 4500 or request a demo.
It’s time to dump those old Accounting books
February 13, 2018 1:29 pm | by John Adams
Gone are the days of the old accounting books. Gone are the days of carrying office books home. Departments in the company, in those days, were given specific books to carry out their day-to-day operations. Everything used to be updated in the company’s books.
Now everything is online giving you automated results. Every department has its unique destination in the information system. It’s a Paperless business now. Technology has helped the organisation to run smoothly giving real-time solutions and quick access to data.
Information systems capture data, process it and retrieve it when needed. Now we have a software for every specific need. Say bye to accounting books.
Accounting Software helps the organisation manage the company’s budget, capital and operational expenses. It allows you to monitor the assets and liabilities of the company. It helps the company to forecast the cashflow and expenditure based on the previous trends. It shows the resources available in hand and generates reports, profit & loss statements and analytics. It helps the company to stay profitable.
HR systems maintain all the information that HR personnel used to do manually in those days. It will take care of all the HR department work like payroll, timesheets, training, employee benefits, HR costs, recruitment, job offers, assignments, retention, employee productivity, employee satisfaction etc.
Marketing information Systems will take care of the sales, interaction with the Dealers, Suppliers and Brokers. It helps generate new business and in the growth of the company. It will also allow you to target a particular audience and helps with market research and customer feedback.
Inventory Management systems will assist in purchasing and sales. For procurement, invoice reports and delivery reports can be generated. It helps in the effective usage of resources for the normal functioning of the organisation.
Operations management will include the procedures and policies to be followed for doing a particular task and making sure the resources are allocated correctly.
Incident reporting is another component of the operations. Making sure workflow stays on track and issues are resolved and do not reoccur.
Say goodbye to accounting books with the sophisticated SapphireOne and all the benefits of SapphireOne Accounting Software, SapphireOne ERP Software and SapphireOne CRM Software.
5 Tips when Selecting Business Accounting Software
February 12, 2018 2:00 pm | by John Adams
Using Accounting software in your business helps to not only manage your financial transactions, it can also help to avoid the common mishaps that can happen using manual accounting methods.
Business Accounting software helps you utilise your resources in an effective way. The accuracy that it ensures helps the organisation to avoid common errors and thereby impacting your business in a positive way. Accounting software brings efficient data entry and the information gathered, allows you to make more informed decisions.
So, an Accounting software package that best suits your organisation, is of significant importance. Selecting the correct Accounting Software to suit your business can not be done in a day and you also have to keep up with the trends due to evolving technology and needs.
5 Tips for Selecting the correct Business Accounting Software Package:
Business Needs
Decide on the kind of accounting software that best addresses your business needs, Online or Offline. Talk to your employees and know what they are expecting from the accounting software. It is very important to know the key features and requirements employees are looking for in a Business Accounting software package. Make a list of their recommendations and find out what is the best possible software available in the market based on these recommendations.
Budget
Everything depends on the budget, so it is important to decide on your budget early. Inquire about the hidden costs like maintenance, upgrades and additional services.
Research
After deciding on your requirements and budget, it’s time for some research. Ask your partners, suppliers, distributors and employees if they know anything about a particular software. Check out some software blogs, read the client testimonials, reviews and do the price comparison. Shortlist the best available software for the organisation.
Features
Inquire about the common features of the business accounting software and cross check it with your accounting needs. Ask them what is the unique selling point of their product and how their software can add value to your business. Inquire about access controls to the data and how much training is needed to be proficient with the software package.
Demonstration & Post-Installation Support
Request a demonstration of the software and bring all the key people involved in accounting for that demonstration. Let the employees contribute and voice their opinions on whether they feel the business accounting software package will meet their needs. Do some sample transactions for invoicing or payroll to check the efficiency of the software. Inquire about the post-sale and post-installation support for the software.
SapphireOne gives the ultimate accounting software experience and has all the benefits of SapphireOne Accounting Software, SapphireOne ERP Software, and SapphireOne CRM Software.