Two important areas for business owners to be across are accounts payable and accounts receivable.
Accounts payable is the money that a business owes its suppliers for goods or services that were received on credit, whereas accounts receivable records the money that a business should collect from customers who received goods or services on credit.
These areas are a major part of the balance sheet of small and medium businesses. Unless you’re trained in bookkeeping and accounting, it can be difficult to grasp the steps involved in the process.
Looking for a solution that removes the guesswork and manual tasks out of managing your accounts payable and accounts receivable? Carbon Bookkeeping & CFO Services can help.
Not only can we take the management of your accounts payable and accounts receivable off your plate, but we can streamline your processes to make it more efficient and help with debt collection.
We utilise the latest cloud-based technologies, and this allows us to give you access to your live data anytime, from any device. By using online invoicing, such as Xero, you’ll simply email your customers a link to a live invoice that includes a Pay Now button for accepting payments online. By utilising accounts receivable software, you’ll receive payment faster, and save on manual administrative tasks.
Say hello to a more efficient bookkeeping experience.
Frequently Asked Questions
When a business owes its suppliers or vendors for goods or services that were received on credit, then this is accounts payable. Accounts receivable is the opposite and is the money that a business should be collecting from customers who received goods or services on credit.
A good accounts payable process will help you maintain great relationships with your suppliers.
Accounts receivable is important because you need to get paid. If you don’t manage accounts receivable correctly, your business will quickly run out of money.
Absolutely! Carbon Bookkeeping & CFO Services will work with you to tailor a solution that suits your business’ needs. Accounting software such as Xero have cloud-based technology solutions to get your business running smoothly.
Waterwise Landscaping Case study
Waterwise Landscaping create purposefully designed exterior environments for their clients’ homes, adding value to their property. Waterwise Landscaping was previously using MYOB but found it complicated to use. They wanted to improve their bookkeeping knowledge and data entry to bring the work in-house.
Carbon converted them to Xero and trained their staff on how to use it, allowing them to do most of the data entry on their own. Xero has saved Waterwise Landscaping approximately 70% of their bookkeeping costs and around 50% reduction in time spent doing data entry.
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Carbon Group have been an awesome investment to our business. Their staff are super friendly and extremely helpful and their knowledge in cost savings first class.
Carbon have assisted us to become more in touch with our business' progress as it has grown and developed.
We love Carbon, they help us stay on track and grow our company with confidence. Plus they give us beer at meetings, what’s not to like?
Our experience with Carbon has been fantastic. Our bookkeeping costs are the same each week which is great as we were hourly before and the fluctuation was hard to track.
I have confidence in Carbon to complete our work to a high standard and deliver work on time.
Since starting with Carbon Group, not only do I have a much better overall understanding of my business, but more free time to actually carry out the work required.
We have been impressed with Carbon ever since we changed over. We love how there is a seamless integration of the accounting department and the bookkeeping departments.
Carbon is an integral part of our support network for achieving our organisation’s mission. We continually receive knowledgeable, timely and generous assistance from both the bookkeeping team.
Fantastic serves, staff and very friendly. I would 100% recommend to anyone wanting a great accountant.
Carbon Group are an amazing company and they certainly know what they're doing. Great staff, friendly and prompt service. I will recommend them to anyone!
Carbon Group has helped reduced our bookkeeping and accounting costs by 50%