Accounts Receivable Services
Services
You’re invested in the success of your new accounts receivable (AR) technology and want to get the most out of it. Quickly. But you need to stay focused on your company’s cash flow and the bottom line.
That’s when Billtrust’s accounts receivable support services can lend a hand. You’ll see a faster maximum return on investment — and fewer headaches — with the added value of personalized, professional support.
Services that support your success
Your relationship with Billtrust shouldn’t end when the contract is signed, or even when your solution launches. Instead, trust the best practices experts to partner with you for a smooth rollout, to help prepare your organization and your customers for implementation, follow your progress, and offer advice when needed.
You determine how much — or how little — backup you need.
What our customers are saying
Billtrust Services case studies
Johnstone Supply Houston
Plumbing & HVAC
Billtrust Services Customers
Happy customers, successful implementations
Move finance forward with AI-powered solutions
Get to know the Billtrust Unified AR Services Platform.
Explore our unified solutionCredit
Make better credit decisions and streamline your credit approval process with automation.
eCommerce
Boost your online sales with our AI-powered webstore, integrated with the top ERP systems.
Invoicing
Automate your invoicing process, save time and get paid faster.
Payments
Get paid faster by offering your customers multiple payment channels.
Cash Application
Accelerate payments, optimize cash flow, and maximize match rates with AI and machine learning.
Collections
Efficiently collect outstanding accounts with AI-powered tools and customizable workflows.
What are accounts receivable services?
Accounts receivable services are an important aspect of a company's financial operations, focusing on managing and collecting funds owed by customers following the sale of goods or services on credit. The objective is not only to establish that the company receives payment for its credit sales in a timely and efficient manner but also to manage customer relationships in a way that supports ongoing business. Effective accounts receivable services also help companies minimize bad debt losses and improve their cash flow and liquidity. These services encompass:
- Issuing invoices
- Monitoring receivables to verify timely payments
- Handling collections for overdue accounts
- Maintaining detailed records of all transactions related to credit sales
Businesses that outsource accounts receivable services simplify their billing process and establish timely payments by using specialized expertise. This helps free up time and resources, letting you focus on core business activities while improving cash flow and profitability. Accounts payable services also streamline vendor payments, confirming timely and accurate settlements, which complements our accounts receivable services by enhancing overall cash flow management and financial stability. By employing sophisticated tracking systems and following best practices in credit management, businesses can enhance their ability to quickly convert sales on credit into cash, promoting financial stability and growth.
Frequently Asked Questions
Check out the FAQs for general questions. Find helpful answers quickly to get the information you need.
The three types of accounts receivable are trade receivables (amounts owed by customers for credit sales), notes receivable (formal promises in writing specifying payment terms), and other receivables (such as interest receivable, insurance claims receivable).
Examples of accounts receivable include unpaid customer invoices for products delivered or services rendered, outstanding balances from clients on service contracts, and any other legally enforceable claims for payment held by a company against its customers.
An accounts receivable role involves maintaining and managing the records of incoming payments and timely collection of payments due from customers. This includes invoicing, recording payments, performing account reconciliations, and sometimes pursuing overdue accounts.
The main function of accounts receivable is to manage and collect payments owed to a company by its customers for goods or services offered on credit, thereby establishing a steady cash flow and minimizing bad debts.
An accounts receivable agent is responsible for overseeing the process of billing and collecting payments from customers, maintaining accurate financial records, and verifying timely receipt of funds that are due.
Accounts receivable skills include proficiency in financial software, attention to detail, strong organizational abilities, excellent communication and negotiation skills, and the ability to manage time effectively and prioritize tasks.
The responsibilities of an accounts receivable (AR) professional include invoicing, tracking and managing incoming payments, conducting credit checks, resolving discrepancies and customer queries, and implementing effective collection strategies to provide timely payments.
To be good at accounts receivable, one should cultivate strong analytical and problem-solving skills, develop a thorough understanding of accounts receivable management for credit and collection strategies, maintain meticulous financial records, and foster positive relationships with customers to facilitate smooth payment processes.
Training for accounts receivable typically involves coursework in accounting principles, finance, business administration, and the use of specific accounting software. Many also benefit from on-the-job training that focuses on the company's specific billing and collection procedures, as well as customer service and negotiation techniques.