ACCOUNTS RECEIVABLE & COLLECTIONS

Streamline Cash Flow

The cash flow cycle consists of time entry, time review, generating bills, and collections. An efficient cash flow cycle is the foundation of financially strong firms; providing the information necessary for effective decision making, staff utilization and the ability to manage business more profitably. With Ajera you are able to streamline your billing and collection process and improve cash flow.

Ajera's flexible Dashboard gives project managers, principals and accounting staff multiple ways to review Accounts Receivable (AR) at a glance:

View receivables by project for project managers and principals
View firm wide receivables and work-in-progress for principals and accounting

Monitor current balances
Visually see aging
Identify trends

Detailed accounts receivable aging report

Accounts Receivable

Ajera is a full featured accounting system that easily tracks outstanding invoices which is critical to maintaining a strong cash flow. To ensure invoices are always up-to-date and ready for billing, Ajera automatically adjusts invoices when cash receipts are posted. This allows invoices to be reviewed in real-time and processed quickly.

Distribute cash receipts to multiple invoices
Enter partial payments and apply by labor, expense and consultants
Easily enter credit memo's to write off client invoices
Enter prepayments and later apply to multiple project invoices
Enter miscellaneous (non-client) receipts in the same deposit as clients deposits
View date specific invoice aging and report registers

Collections

Many collection issues are due to time consuming billing processes that are completed in multiple applications and delayed in review. These issues can be eliminated with an automated time entry system that combines accounting and project management into a single integrated system.

Ajera Billing and Invoicing

Even with the most efficient billing process there are still AR and collections issues that firms must face. Clients may require more detailed information concerning the costs of a project, phase or task before they make a payment. Another critical issue is, the financial risk your firm is exposed to when completing or accepting new projects from a client. Ajera solves these issues with its intuitive Dashboard and extensive reporting capability! See also Billing and Invoicing.

Justify Your Billings

Clients often have questions that need to be answered and processes that need to be followed before they can pay your firm. Ajera helps in a number of areas.

Ajera can produce additional levels of detail as required, even down to the timesheets specific to a project - complete with all notes from the employees to justify charges.
The improvement in efficiency and productivity you gain from using Ajera gives you more time to follow up with your clients. This allows you to be pro-active, ensuring that your client has received the invoice and any questions that could delay payment are answered.

Avoid Risk

Many firms are exposed to risk because they are unaware of projects being accepted from clients who have already incurred a large amount of credit that has not been paid. This occurs because many firms use multiple disconnected office tools for their accounting and project management. The lack of integration between the financials and projects greatly reduces the visibility to accurate and timely project status reports. The Ajera Dashboard gives you real-time visibility to projects with significant receivable balances as well as visibility to overall receivables aging and receivables trending. Ajera has many reports, such as the monthly receivable balances report and the client invoice aging report, that help identify clients that are high credit risks.

See Also: Internal Controls

For more information about our Ajera solution, sign-up for an Internet Presentation or contact our Sales Team at 800.872.1540 or sales@axiumae.com.

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