Get a Quote and Find Services to Fit Your Needs
Getting overwhelmed is not out of the norm when managing your accounts on your own. A simple way to get faster payments and improve your collection rates is by outsourcing accounts receivable.
At Lekhakar, we offer the following in terms of accounts receivable services:
1- Verifying Invoices Issued and Received
On every sale your company makes, you need to provide an invoice to your customer. These need to be matched with the payments received to know which have been cleared and the ones that are pending. Further, the authenticity of each invoice and the validity of the payment received needs to be confirmed.
Let our experts streamline the invoicing process so that you can stay on top of the payments you are yet to receive.
2- Processing Credit Memos
In the event of a customer being overcharged, they are issued a credit memo to rectify the issue. These need to be maintained properly to ensure that your accounts and records add up.
At Lekhakar, our experts are trained to handle all types of accounts receivable services, including processing credit memos.
3- Reconciliation of AR Ledger
The ledger maintained by the bookkeeping for accounts receivable needs to be tallied against the bank statements of the organisation. This is essential to ensure that the records are free of any errors, identify payments that are pending, and prevent misappropriation.
Lekhakar’s accounts receivable reconciliation services organises your accounts to ensure that you are not missing out on payments.
4- Bad Debts/ Delinquency Management
Overdue unpaid accounts are also termed as delinquent accounts. When there is little to no chance of recovering the amounts, it becomes a bad debt. Maintaining a proper statement of accounts and regular verification of these can help find accounts that are at risk of turning into bad debts.
Minimise the risk of bad debts by identifying overdue accounts and write-off debts that cannot be recovered with Lekhakar’s Accounts Receivable Services.
5- Prepare and Process Ageing Reports
Sales take place over a period of time and invoices are issued alongside them. To make sure that all these are well organised and that you receive the due payments on time, the invoices need to be arranged sequentially. This process is called creating an ageing report.
Manage your cash flow and identify overdue payments and defaulters with Ageing Reports created by our experts.
Why Lekhakar?
A leading financial service provider, Lekhakar is here to address all the accounting needs for your business. Outsourcing Accounts Receivable to our experts is a sound business decision since we have a team of CAs, Financial advisors, and advocates.
Streamline the accounts receivable process for your company with Lekhakar.
FAQs
1-How essential is the accounts receivable service?
When running a business you receive multiple invoices each day. To make sure the accounts are well organised, each of these needs to be recorded and verified. Maintain cash flow and financial stability of your business with accounts receivable service.
2- Why is outsourcing accounts receivable a good option for businesses?
Outsourcing accounts receivable reduces the burden that your in-house accountant is facing. Further, you can also save on overheads by outsourcing accounting services that can be handled externally.
3- How does the outsourcing accounts receivable process work?
You can either outsource the entire accounting task or take a more measured approach by outsourcing certain activities. Our experts evaluate your business needs to provide a custom accounting solution.
4- How to handle bad debts in accounting?
Ideally, the Bad Debt rate should remain below 0.2% for any business. The best case scenario is not to let any overdue payment turn into a bad debt. However, when one is present in the books, accountants will either write it off or manage it with allowances.
