We've supercharged your dashboard! You can now add the Debtors and Creditors Day’s Outstanding visuals directly, giving you immediate, crystal-clear insight into your Accounts Receivable (AR) and Accounts Payable (AP) health and overall business performance.
Maximize your cash flow clarity 🚀
Here’s how to interpret and use these essential visuals:
Debtors Day’s Outstanding (Accounts Receivable Health): A high number signals slow collections, which significantly increases the risk of bad debt write-offs. Use this visual to quickly identify receivables outstanding by time bracket so you can take action on overdue invoices.
Creditors Day’s Outstanding (Accounts Payable Efficiency): This visual tracks how quickly you pay your suppliers. A high number means you're holding onto cash longer, which can be strategic, but monitor this to maintain strong vendor relationships. A low number suggests you might be missing opportunities to utilize available credit.
Get started: where to find the graphs 🧐
It’s never been easier to add these key indicators:
For Debtors Day’s Outstanding: Navigate to Visualize > Dashboard > Customers > Receivables.
For Creditors Day’s Outstanding: Navigate to Visualize > Dashboard > Suppliers > Payables.
Now, simply add these essential cards to your Dashboard with the “Add card” button and start gaining a clearer picture of your financial standing today!
Closing thoughts 💭
Ultimately, tracking Accounts Receivable (AR) and Accounts Payable (AP) is non-negotiable because cash is the lifeblood of any business. For you, as an accountant, actively managing these flows for your clients provides an immediate, crystal-clear snapshot of their financial health. It’s a core maintenance task that protects their business from running into problems like not being able to pay suppliers or encountering a cash flow crunch.
More than just bookkeeping, offering AP/AR management transforms you into a strategic advisor, creating a new, profitable revenue stream for your practice and fostering a deeper client relationship. By using these new visuals to proactively manage collection policies and payment timing, you ensure not only your clients' financial stability but also the growth of your advisory service.