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Olympus |

 Receivables

#

Digitize and optimize

your business

 collection process

Use smart automation tools, actionable data, and smart invoices for enhanced business collection

Use smart automation tools, actionable data, and smart invoices for enhanced business collection

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How does it work?

Digitize your customers' invoicing process and ensure timely collection with multiple payment options
Digitize your customers' invoicing process and ensure timely collection with multiple payment options

Virtual Accounts

Streamline the collection process by creating virtual accounts for your customers

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Bulk Collect

Create an improved, customer-focused collection experience while ensuring better DSO

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Payment Links

Reduce follow-ups and speed up collections by embedding payment links within digital invoices

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Invoices

Reduce follow-ups and collect on time with digital invoice dispatch

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Make business 

collections 

easy and smooth 

with EnKash!

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Quick

Collections

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One-click

Deployment

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Easy

Tracking

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The EnKash way is 

the better way

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Collection

Process

Payment

Methods

Collection

Method

Invoice

Dispatch

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Manually keeping track of receivables and customer payments creates unnecessary confusion.
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Leverage virtual accounts to streamline reconciliation by linking received payments to customer accounts.

Total

Control

Gain control over your business spends with a complete overview of all your expenses. Analyze data to create efficient budgets, optimize expenses and increase your savings.

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Automate and Accelerate

Put repetitive and mundane tasks on auto-pilot and significantly reduce your team’s efforts in the invoicing and reconciliation process

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Proactive Collection

Build collection strategies that work for both you and your customer. Get details about each transaction linked seamlessly with virtual accounts for better insights

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Smart

Invoices

Leverage the power of embedded payment links within invoices and other forms of communication to quicken the collection process

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Improved Cashflow

An automated collection strategy that does most of your work and can improve your business's overall cash flow

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Learn how receivables can revolutionize the way you work!

Read Blogs

Optimize Your Accounts Payable and Receivable with Automation

Optimize Your Accounts Payable and Receivable with Automation

Aug 11, 2023

A successful business is dependent on a variety of factors. While most of those factors can be controlled from within the company itself, cash-flow remains the most pivotal yet the most unpredictable of them all...

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The Role of Accounts Receivable in Financial Management

The Role of Accounts Receivable in Financial Management

May 22, 2023

Accounts receivable (AR) is the amount of money that a company is due to receive from its customers for goods or services sold on credit. It represents the balance of unpaid invoices or bills that customers owe to the...

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Accounts Payable v/s Accounts Receivable

Accounts Payable v/s Accounts Receivable

Oct 13, 2023

Accounts Payable is the money owed to vendors and suppliers by the business. This results in the cash outflow of the business. Whereas AR is the exact opposite, which is the money a business owes to its customers or...

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Got Questions?

Don't worry! Our FAQs section will help you learn about receivables in detail

What is a business’s Accounts Receivable (AR)?

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Accounts receivable are the funds customers owe the company for products or services that have been invoiced. These usually exist when the goods or services are given to the customer on credit.

Where to locate a company’s accounts receivable?

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Accounts receivable are listed as current assets on the balance sheet and include invoices that customers owe for goods purchased, or services availed on credit. This amount will be credited to the company’s account.

Can accounts receivable be classified as business income?

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AR is considered revenue as the amount that will come to the company. AR is considered revenue as the amount that will come to the company.

What makes a favorable AR turnover ratio?

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Accounts receivable turnover ratio, or ART, is the number of times a business collects its accounts receivable balance in a year. It represents an organization's effectiveness in collecting outstanding amounts from its customers.

The ART is directly proportional to the efficiency of the organization. The higher the ART, the more efficient the organization, and a lower ratio implies the organization is inefficient. This comparison is usually done within the same industry. A decent ART is around 7.8.

What are accounts receivable types?

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There are three types of accounts receivable:

Trade receivable/Accounts receivable: The accounts receivable, also known as trade receivables, is the outstanding amount owed to an organization by its clients for their goods or services. It reflects the amount the company is bound to receive.

Notes receivable: This is similar to the traditional accounts receivable, except a two-month payment window is given to the customer. However, if both parties agree, this timeline can be extended to a year or more.

Other receivables: These receivables consist of interest receivables, salary receivables, employee advances, tax refunds, loans, and advances given to employees and other companies.

How do accounts receivable affect my business?

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Accounts receivable can directly impact an organization's cash flow. It showcases the amount owed by the customer to the company and, if not paid timely, can affect the financial health of a business. Keeping track of your company’s accounts receivable can help you with better cash flow management.

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Seeking further understanding of accounts receivables?

Speed up business collections for easy cash flow

Accounts Receivable is the outstanding amount customers or clients owe to a business. This amount is against any good or service availed from the business

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What are the advantages of accounts receivable?

  • AR helps improve a business's cash flow by speeding up incoming funds, ensuring a steady cash flow
  • Accounts receivable improve liquidity and support working capital and day-to-day business operations
  • Businesses can enhance customer relationships by allowing flexibility in credit offerings and building customer relationships
  • With accounts receivable managed properly, businesses can get valuable data to understand their financial health

What are examples of receivables?

One of the examples to understand accounts receivable would be:

A clothing manufacturer delivering the raw material to a retail store on credit. The payment can be made to the manufacturer within 30 days as both parties agree.

How accounts receivable is different from accounts payable?

Accounts receivable and accounts payable are two different aspects of a business. Accounts receivable is the money a business will receive from its customers against the goods or services it has provided. On the other hand, accounts payable is the money a business has to pay its vendors or suppliers for the goods or services they have purchased from them.

How companies recognize accounts receivable?

When a business delivers goods or services on credit, that is when their accounts receivable is created. Further, this transaction is recorded in the balance sheet as revenue against accounts receivable entry. As and when the payment is received, the amount is deducted from the accounts receivable balance.

What are the steps in the accounts receivable process?

  • The AR process starts when a good or service and a detailed invoice are delivered to the customer
  • The sale is recorded in the company’s accounting books
  • This entry is regularly monitored
  • Upon receiving payment, the accounts receivable ledger is updated

What are the 4 functions of accounts receivable?

The four accounts receivable functions are:

  • Establishing credit limits to reduce the risk of non-payment
  • Sending invoices to customers for goods and services delivered with payment details and terms specified
  • Recording the payment received from the customer to their respective accounts
  • Following up on overdue accounts and implementing collection strategies

How can businesses manage accounts receivable?

Businesses can manage accounts receivable by following the steps below:

  • Companies can automate their invoicing, payment tracking, and reminders with accounting software like EnKash
  • Businesses can establish credit policies with credit limits, terms, and conditions for customers
  • Conduct checks on customers for their creditworthiness
  • Implement effective collection strategies and fast-track their receivables process
  • Maintain good customer relationships by openly addressing their grievances