Accounts Receivable & Accounts Payable Services FOR CONSTRUCTION COMPANIES
Accounts receivable refers to the invoices or funds due to a business from sales or services provided to a client.
Accounts Receivable & Accounts Payable Services
These invoices and funds are usually issued by invoice. They are due on receipt or a specified amount of time after a sale or a service has been contracted. Accounts payable refers to the bills or payments due to the debtors of a business from conducting business. Like accounts receivable, these bills and payments are due after your business has conducted business with another company. These payments are either due upon receipt or a specified time after the sale or service has been completed.
Why do I need accounts receivable and accounts payable services for my construction business?
Properly using accounts receivable and accounts payable helps you predict and control your business’s cash flow, which can be critical if you are either taking in less income or issuing more payments to vendors than you expected. When using these systems accurately, you can also track any delinquent customers that are not paying or any bills you may be late.