As a business, you likely have customer purchases or purchases of your own on credit rather than immediate payments. This all falls under accounts receivable, the sum of money your customer owes you and accounts payable, the sum of money you owe.
Keeping track of these two categories is vital to understanding the health of your business finance. Records need to be regularly maintained to ensure that you are up to date and fully aware of your financial situation. The expert team at RBK Advisory can help with this, guaranteeing you know how much money you have at your disposal and the total of all your bills.
Your accounts receivable is considered a business asset, as they will be turned into cash in the future. This can be important if you have investors or are considering a loan. Your accounts receivable tells you how much you have at your disposal, which is information lenders’ or investors’ will require. This can also be used for short-term financing and is essentially a measure of a company’s liquidity.
At the same time, the proper management of your accounts payable is crucial to ensuring your business avoids missed or delayed payments, overdue bills, late fees, and more. Pending accounts payable is an indicator of funds that are expected to leave the company and vital information to understand.
Managing your accounts receivable and payable can include making payments and recording due and completed payments. At RBK Advisory, we can take this task off your hands, saving you time and offering peace of mind in knowing everything will be up-to-date.
Handling your accounts receivables can involve several steps starting from the moment you send an invoice, and the
Handing tasks like this over to RBK Advisory saves you a lot of time while also ensuring they are done correctly. As one of only two BCorp certified accounting firms in Australia, you, like many others, can trust that we will deal with your finances efficiently and effectively.
We have a strong reputation for our ethical approach to all accounting processes, and the RBK team is at your disposal when you become a client. Our team features:
Our outside-of-the-box approach has been developed to free your time so you can focus on running and growing your business. Benefit from our knowledge base and real-world experience as we create efficient processes that make your business and finances easier to manage.
The decades of experience held by the team RBK Advisory are a true benefit to your company finance strategy; work smarter, not harder, with our help today.
“RBK Advisory have assisted us with various Accounting, Taxation & Legal services and have always operated with professionalism and courtesy. They handle the matters we require, in layman’s terms. They are down to earth pros that make our life easier, its as simple as that.”