Staffing Firm Cash Receipt & Application
What is Cash Application?
Cash application is the process of applying a customer’s payment to an open invoice. Sounds simple, right? It can be, but it can also be extremely time consuming and we know your time is valuable.
Cash Application with Advance:
When Advance Partners receives a payment from one of your customers, it goes into a secure lockbox and posts the same day. We take the time to match the right invoice to the right remittance. Our cash disbursement manager will handle disputes and cash adjustments, and help you track down late, partial or missing payments.
Vendor Management System (VMS) Support:
Additionally, Advance provides VMS research and reporting for all staffing firm clients. An Advance VMS Research Analyst will pull paid data from the VMS, match to invoices/billing and report discrepancies. What does that mean to you? Time savings for one thing. Secondly, it helps identify any issues that might otherwise go unnoticed and prevent you from being paid.
Advance acts as an extension of your accounting department and we understand your unique staffing agency needs. Our cash receipt and application reports are available to our payroll funding clients online 24/7, even if you don’t sign on for our back-office support services. In addition to cash receipt reconciliation, and application at Advance, you also gain access to personalized strategic support from our team of industry leaders.
Request a free consultation to learn more about Advance's Cash Receipt & Application support.