Every MSP owner and their accountant knows the struggle of variable billing and the collections process. Reconciling invoices with payments (or worse yet, partial payments!) is a time-consuming, continuous struggle. Even with the best-case scenario—MSP sends out a monthly physical invoice with a return envelope, client remits payment likely via check, MSP deposits the check, MSP manually matches the payment to an invoice in the CRM, MSP updates the invoice as “paid” in the accounting software—the effort it takes to get paid and reconcile invoices with accounting software and your MSP’s CRM or PSA is too much.
And that’s if every aspect of billing and collections goes right!
Partial payments or payments sent without an invoice number might require all-out guesswork. And if payments are overdue, additional time is spent sending reminders, dunning notices, and making collection calls. As your business scales, the time it takes to manually reconcile full and partial payments only increases to an unsustainable level. It’s no wonder most MSPs have an average outstanding accounts receivable well past 30 days.
MSPs get stuck in an endless game of “match the payment to the correct invoice in the accounting package.” But getting paid isn’t a game—it’s your livelihood. It shouldn’t be this hard.
Your billing and payments process will make or break your business. Having a time-intensive, manual system for collections is not just an expensive and time-consuming burden, it also puts you at risk for human errors and billing problems down the road that may damage customer relationships.
You need automatic invoice reconciliation.
With ConnectBooster, you can stop playing a losing reconciliation game. ConnectBooster connects your CRM with your accounting software so you save time on bookkeeping, eliminate double-data entry, and reduce human-error. You can reclaim your time and let ConnectBooster automatically match and reconcile invoices upon receipt of payment.
After adopting ConnectBooster, most MSPs report saving 8-20 hours per month previously spent on manual billing-related tasks. Schedule a ConnectBooster demo to see how your MSP can save time and resources with automatic accounting reconciliation. Your bookkeeper will thank you!