Know How The New Bill-Wise Tracking Feature of Vyapar Helps You Track Invoices Better!
Being a Small Business Owner, you might face the difficulty of tracing payments received/ not yet received/ Partially paid. Especially where the payments are not instantly made, matching the right payment with right invoice becomes too much work.
For eg: Imagine that your customer hands over a cheque to you instead of cash. You can encash it only after few days or longer. It’s very likely that you can mix up the invoices to which this cheque applies to. Now, you will have to hunt through account books to associate the right payment with the correct account and invoice number. Thus making it time to consume to determine how much has been paid, when it has been paid, to what it has been paid and what’s due overtime etc.
Also, consider the times when you don’t have the payment? Can you easily track which payments have been received and which ones are pending? Yes, it is possible only if you deal with just handful of invoices. But, if you’re replicating this effort for larger invoices you’ll end up burning your business. Moreover, businesses have enough amount of people power or hours to dedicate to this effort.
Imagine having to turn the whole list of all the transactions that happened and then find out the unpaid ones. Some of you may keep the paper copies of the bills when you receive payment. Won’t you find it hard to run through every paper copy to find out the right bill?
For this reason, a Proper invoice tracker is no longer an option, it’s a necessity! And here’s how Vyapar, a business management software can help you!
Vyapar makes it easier to track customer payments by keeping track of all your bills.
You can see who owes you money
With vyapar, you can view the list of people having outstanding invoices. Details of each and every invoice. This list can be sent to your employees to collect payment from your parties making the whole process efficient.
You can see when (Date & Time) the invoice was created.
And also the total amount due to follow up (with the right invoice numbers).
Vyapar maintains complete Bill-Wise Tracking details.
Also gives you outstanding reports of company’s present status.
Shows complete transaction history of sale.
Date of invoice creation, date of payments made, due amount, current status of the sale etc can be viewed.
Open balances of each party
Status of each invoice making it extremely easy to generate the party statement and reconcile with the party. No or minimal manual effort needed.
Keeps track of total account Receivables & Payables.
Without Vyapar, you would require to maintain the bill number in your register and tick it which gets paid which appears to be a lot tedious as invoices build up. But with vyapar, clearing the outstanding bills against the right unpaid invoice gets hassle-free.
To Enable “Bill-Wise Tracking” Feature of Vyapar : go to -> Settings -> Transaction Settings-> Enable Bill Wise Payment Feature