How to get accounts receivable working for your business.
Accounts receivable represent the accounts a company or business has the legal right to collect from a customer after providing a good or service. As far as balance sheets are concerned, accounts receivable are considered an asset, even though they don’t immediately translate to working capital. That being said, tools are available to turn your accounts receivable into cash instantly.
Harness the power of unpaid invoices to turn accounts receivable into working capital.
The accounts receivable process is documented through invoices, which typically offer payment terms of 30-90 days. Often, months can pass before a business actually sees cash in their bank account. This waiting hurts growing businesses by creating gaps in cash flow. A strategic accounts receivable management method like factoring finance can reduce that payment period to as little as 24 hours.
If a company has invoices, the best way to prevent and/or remedy the cash flow gaps that are typically associated with the wait to get paid is through factoring finance. Factoring finance enables businesses to sell their accounts receivable to a third-party – allowing them to receive cash up front.
FundThrough is an online platform that allows businesses to advance funds on their outstanding invoices in order to eliminate cash flow gaps within 24 hours. It connects seamlessly to your favorite accounting platforms, giving you full control over your finances – and it’s really easy to use!