Doing accounts receivable for any business has been around since 2,000 BC, yes you read it right! Its history can be traced back to ancient Mesopotamia or what we call the Middle East today. Throughout the years, the way all businesses have been managing their account receivables has changed, thanks to technology there are now tons of invoicing providers out there, like us at Kernel Tools, that’s paving the way for automating every business’ accounts receivable management, making their entrepreneurial journey more seamless.
But what exactly do accounts receivable mean? This simply refers to the outstanding invoice (a sales document used to request payments) a customer owes to a particular business for goods or services delivered, or sold but not yet paid for by their customers. Accounts receivable could be any amount of money owed by customers for purchases made in cash or credit.
Today, many businesses, especially small and medium enterprises (SMEs), opt to use different accounts receivables management tools for invoicing and sales documentation, but did you know that using an invoicing provider like Kernel Tools benefits you in the long run? Here’s Muzaffer Havcarci of INPOSIA outlining its perks:
- Time and money-saving.
- Increases productivity.
- Regulated documentation and easier traceability of all transactions made.
- Expertise in local invoicing regulations.
- Payment is possible in different currencies.
Now that you know the importance of an invoicing provider for accounts receivable management to your business, you might consider looking for one, and we’re here to help you make the right choice the first time.
Kernel Tools simplifies and automates most of the invoice creation process through setting up an automated recurring invoicing schedule where invoice number and date are adjusted automatically – getting you paid without having to create and send a new invoice repetitively. You don’t need any prior expertise in finance or accounting as our intuitive interface and simple functionality lets you keep track of all your revenues and cash flows providing you simple reports that you can easily understand.