How many man-hours do you spend each month on billing processes?
If you have or are looking to automate your accounting processes, saving time on monthly billing is likely one of the main benefits you are after.
Implementing automated accounting software will definitely save time by helping to automate many of your accounting practices.
However, not every solution out there offers one critical, time saving feature.
As a managed service provider, you most likely have many of your clients set up on an annual contract that bills out at the same amount each month.
Unfortunately, not every accounting software program fully automates your monthly recurring billing.
Obviously, this is a capability you would expect from your accounting software. After all, if you are sending out the same bill to the same client at the same time each month, why would you have to do each step manually?
The best, automated accounting software will completely automate this entire process for you.
When you are investigating a new accounting program, make sure that it includes an auto-draft feature that handles your monthly recurring billing.
With this feature, when you add a new client contract to your accounting process, you can enter in their annual contract amount and what their monthly recurring payments will be. You will only have to set up a new client one time, and their payments will be automatically transferred to your account on a monthly basis – without you or your client having to take any action.
When auto-drafting is in place, no monthly bill needs to be generated, mailed or emailed to your client.
You do not have to wait for a check to come in the mail, or for your client to click on a link in their email in order for you to receive payment.
If your accounting software includes auto-drafting, you set up automated recurring billing once, and each month the amount will be transferred from their bank account to yours.
And, because clients sometimes decide to add services to their contract throughout the year, you will also want software that lets you automatically update their auto-draft payments.
Not every accounting program offers this. So take the time to fully investigate your options and find one that does. You will be glad you did.
Why? Because, it will save you countless man-hours each month on monthly recurring billing. Plus, it ensures that you will get paid by your auto-draft customers on time… every time. And isn’t that what you want automated accounting software to do?
Want automated accounting software that completely handles your monthly recurring billing?
Download one of our free case studies for free guidance on how to completely automate your organization’s accounting processes with ConnectBooster.