The most important thing to consider in business is managing the finance system. The cash flow plays a vital role in the growth of a business. The biggest reason for declining cash position in the business is unpaid invoices of the customers. You should invest in the automated accounts receivable problems solutions to maintain the good cash flow in the business. Here, in this article, we will discuss various tips and tricks that will help you to collect payments from the customers before the deadline.

1. Create A Perfect System

You should create a good system to ensure the cash flow in your business.If you have a good system, then you can easily manage various things. It is imperative to create a system in which we can manage invoices.  If you send invoices at the right time to your customers with the help of account receivable solutions, then you can easily get payments at the right time. It is recommended to invest in the accounting system that can automatically generate invoices and send it to the customers.

You should put in a lot of effort to stay at the top of the finances. You should set aside a specific time to generate the account receivable report. Make sure that your system creates clear deadlines, and it should be clearly conveyed to your customers. You should set a particular time to create invoices, generate reports, and review the accounting system.

2. Use the Online Accounting System

The manual system of managing the account is time-consuming and needs lots of effort. Therefore, you should use an online accounting system. The accounts receivable management software can help in saving your time and reduce the probability of errors. Moreover, you can easily access the data anywhere easily and manage the cash flow—the online accounting software help in automatically generating the invoices and send to your customers.

3. Recurring Invoices

If you opt for the cloud accounting software, then you can easily set up the recurring invoices. It means you have to create an invoice for the customer for only one time. The accounting software will automatically create invoices again and again. After automatically creating the invoices, the accounting system will automatically send the invoices.

4. Set The Reminders

If you are running a business in such a way that you do not have to deal with the recurring invoices, then you set up alerts. You can set up reminders in the accounting software to send the invoices to your customers at the right time. If you can send the invoices quickly, then there is a high probability of collecting the payments as soon as possible. You should set your aim and objective to send the invoices as soon as possible.

5. Send Invoices Through Emails

Now everybody uses email and it is one of the best ways to send invoices to the customers. There should be no excuse to not send invoices through emails. If you send invoices through mails, then they can easily access it through their mobile phone. So, sending invoices to customers via mail can help you to maintain the record of sending reminders and taking follow up.

6. Send Reminders

In the accounts receivable portal, you can quickly and easily send emails. These emails will act as a reminder for the customers if the deadline is passed away. You can send the reminder through emails, phone messages, etc. Usually, customers forget the last date of payments. By sending a simple reminder through email or text messages can help you to get the payments instantly from the customers who forget to pay before the deadline. If they fail to make payment even after sending reminders through email or text, then you can call them.

7. Maintain Good Relations With Customers

If you are running a successful business, then you should maintain a good relationship with your customers. You should stay polite while receiving payments from your customer. It is recommended that you should never use harsh language. Your invoices should be written in polite and friendly language. Well, it is quite difficult to use friendly language in a difficult situation, especially if they are delaying the payment from a long time.

8. Offer Different Payment Options

With the advancement in technology, people want convenience in payment methods. Therefore, you should allow your customer to make payments through online mode using their smartphones. If you offer convenience to your customers to make payments in different ways, then it increases the probability to make payments instantly. In addition to this, you should also allow your customers to make payments through traditional ways.

9. Charge Late Payment Fees

You should encourage your customers to make payments before the deadline. If they cross the deadline, then you should charge them fees to make late payments. This fee will not just encourage people to make on-time payments, but also help in recovering the loss.

What is GST?

GST stands for Goods and Services Tax, it is an indirect tax that apply on services and goods sold for domestic consumption which has replaced many indirect laws. The business owner adds GST price to the product and customer who buys the product pays GST along with the product price.

Online GST registration was passed in the Parliament on 29th March 2017 yet it became effective on 1st July 2017 in India, he GST is governed by a GST Council and its Chairman is the Finance Minister of India.

Why GST registration is important?

• Proper accounting of taxes paid on the info merchandise or administrations that can be used for payment of GST due to the supply of goods or services or both by the business.
• Getting eligible to use various other benefits and privileges under the GST laws.

GST Registration Procedure:

The GST enrollment procedure will be online through an entry kept up by the Central Government of India. The legislature will likewise choose GSPs (GST Suvidha Providers) to assist organizations with the enrollment procedure.

Based on the information provided by GSTN, registration process looks like this:

• You will need to submit PAN, mobile number, and email address in Part A of Form GST REG–01 (https://www.gst.gov.in/).
• The PAN is checked on the GST Portal. Mobile number and E-mail address are confirmed with a one-time Password (OTP). When the check is finished, the candidate will get an application reference number on the enrolled mobile number and by means of E-mail. An acknowledgment should be issued to the applicant in FORM GST REG-02 electronically.
• On the off chance that extra data is required, Form GST REG-03 will be given. A candidate needs to react in Form GST REG-04 with the necessary data inside 7 working days from the date of receipt of Form GST REG-03.

Documents required for GST registration

• Certificate of Incorporation
• Stakeholder passport size photo
• PAN card of Company
• Digital Signature
• Proof of permanent business place like: electricity bill, Rent agreement etc.
• Proof of bank account details.

GST is segregated in four different types such as:

1. IGST (Integrated Goods and Services Tax)
2. UTGST (Union Territory Goods and Services Tax)
3. CGST (Central Goods and Services Tax)
4. SGST (State Goods and Services tax).

GST Registration in Jaipur

After receipt of every single essential archive, it takes 2/3 working days to process GST Registration in Jaipur. Timelines may vary depending on replies from GST department/portal & availability of documents from client side.

Want to promote your leather accessories that customers can personalize? While you are using the conventional ways of promoting the products and services, get compelling custom packaging made for boosting the efforts. Aesthetically appealing boxes would make your business notable. You can improve your customer outreach and sales through them. An inspiring and inviting packaging idea would make your leather accessories store hard to forget. There are many box styles available that you can customize, the sleeve is the trendiest of all. It is not only pleasing but purposeful at the same time. 

The sleeve boxes can be printed according to your required size and color theme. You need to have a competent printer for quality packaging sleeve printing. When looking for a vendor online or locally, make sure to vet and compare the turnaround time, the price range for the solutions you require, and the skills of the service providers. Entrust the print job to a box manufacturing company that makes an effort to understand your product range and business dynamics. Packaging can serve as an insignia of your brand if you get it custom printed the right way. 

Want to know how to go about it? We are listing some tips to help you!

Use a Splashy and Scintillating Box Artwork 

The design of your customized leather items packaging should be beguiling and colorful. When deciding the artwork details, tell the graphic designers to use illustrations and color schemes that match your offerings. The design should be aesthetical to get remembered by the onlookers. You can have varying artworks made for leather wallets, key chains, credit cardholders, and other items. 

Long-Lasting Sleeve Boxes Wholesale 

Get the packaging printed with cardboard, kraft paper, or the material you like after evaluating its thickness, resilience, and flexibility. The boxes should keep the packaged leather goods safe from getting affected by heat, moisture, dust, and shock. You can have protective inserts printed for packaging to ensure the safe storage and careful handling of the items. If you have an e-store, it is all the way more important to have boxes with long shelf life. 

Packaging with Handwritten Thank-You Notes 

You can make the boxes for products worth keeping and cherishing for the shoppers by attaching handwritten thank you notes. This would remind them of your geniality and they are likely to choose your business time and again. You can either have a generic gratitude message printed on the packaging or use blank cards for crafting a compassionate note for each valuable customer. This could go a long way in winning you over brand evangelists. 

When getting the packaging sleeve printing, ask for sample boxes made with different custom options. You can have the packaging printed with raised ink, UV coating, glossy/matte lamination, debossing, or embossing. 

The boxes should have your social media profile links to make it easy for the buyers to get updates about new offers. You can have festive packaging printed on Christmas, Easter, and Thanksgiving. 

Rely on the design and printing solutions of the Packaging Republic for making your custom boxes captivating. The service provider offers reasonable pricing and minimal turnaround. 

The packaging should have care instructions for leather accessories especially on cleaning and storing the items. The boxes should have a 2-liner about your business’ core values and best practices to indorse your customer-centric approach. This will give buyers another reason to prefer your products.