In its simplest form, a supplier invoice is a sales invoice that is issued by the business that has supplied the goods or services to the customer who has taken receipt of these. Invoices are a vital part of running a business. They are the key piece of information that helps your business to ultimately […]
Could a subscription model for your invoicing be the best option for you? Helping to keep your revenue flowing, avoiding overdue invoices and late payments, switching to a recurring billing system can provide you with numerous benefits. In fact, recurring billing can be a lifeline for subscription businesses. In this post, we explore `what is […]
Do you know how much your business income really goes to taxes? Do you have the income to pay tax bills when they arise? Do you monitor and calculate your effective tax rate to help you manage your finances and cash flow more effectively? Your accounts department has a lot to report on and data […]
In their simplest form, when we look at quotes and invoices, we understand that both play a vital role in credit control and management; one, the quote is sent to a customer before work begins, outlining goods and services and a breakdown of costs, and the other, the invoice is issued when work is completed […]
If you offer credit cards as a form of payment option, then there is no escaping credit card fees. Fees and charges that negatively impact your cash flow and affect your bottom line. The team at Direct Route has pulled this particular post together as we believe that it’s vital to know credit systems inside […]
Late payment of invoices is a significant problem for many businesses in the UK, affecting various companies of all sizes and across all industries. There are numerous reasons why payments are delayed, from forgotten, lost, not received, and even for some, to save money. However, there are penalties (your credit team should have these in […]
Net 60 is a standard payment term that indicates the timeframe within which a customer must pay their invoice, specifically 60 days from the invoice date. Net 60 is a way for businesses to give their customers more time to pay for goods and services compared to others, who only offer 30-day credit terms. However, […]
We’re often asked the question about the difference between commercial and consumer debt collection and if, indeed, there is a difference. In quick response, yes, there is a difference between the two, and we also note in response that because of this not all debt collection agencies are the same. For example, when comparing consumer […]
Accounts receivable is more than just a number for the books. Forming part of your balance sheet figures, accounts receivable is a critical part of your business function. Helping you to get access to further credit and loans, make informed and critical decisions, and also providing you with insight into how the business is performing […]
Whether you send a bill or an invoice, these documents connect you with your customer. They help to build a relationship and show that a transaction between the parties has taken place. They can help you to understand behaviours, where you can then use this information to make credit processes more efficient, as well as […]