Keep customer invoices, outstanding balances, and payment follow-ups organized with reliable accounts receivable support.
Canadian Cypress Inc. provides Accounts Receivable services to businesses on Vancouver Island, Canada, and in the U.S. from its home base in Victoria, B.C.
We support with daily AR duties such as issuing customer invoices, tracking payments, AR aging reports, payment reminders, customer account reconciliation and AR reporting. Our team integrates into your current accounting procedures to help you maintain accurate receivable records and gain better visibility of the receivables.
Managing all accounts receivable is more than just sending invoices. This includes regular monitoring, keeping accurate records, communicating on time, and having a clear view of what the customer owes and when.
To ensure timely settlement of customer accounts and visibility of outstanding balances, Canadian Cypress offers continuous outsourced accounts receivable services. We help you manage an organized workflow while you manage your customer relationships, credit decisions and collection policies.
We use the billing information and procedure your business has already set up when creating and processing customer invoices.
Invoices can contain customer information, products/services, payment terms, purchase order details, tax details, and supporting documents to ensure proper and accurate invoicing.
Customer payments are recorded as they are made and matched against the relevant invoices and customer accounts in your normal accounting system.
Having current payment records offers transparency about paid and outstanding invoices, partial payments, unapplied payments, credits, and any payments needing review.
We analyze accounts receivable aging reports to determine accounts that are nearing their due dates and those that are delinquent.
Receivables can be sorted by aging period, customer, outstanding balance, and more, which will provide your business with more clarity as to what needs to be addressed and where follow-up might be necessary.
Keeping the lines of communication open lowers the risk of outstanding invoices being forgotten.
We follow up on payments and accounts receivable professionally through your approved method of communication. We can send comments on invoices, Outstanding balances, Payment due dates, and Payment status requests and stay professional and customer-oriented. Any further collection decisions and/or payment arrangements will stay with your business.
If a customer makes a payment date or payment commitment, we will record the information and follow up on the account.
If the payment is not received as expected, we flag the account for your review and continue follow-up according to your approved procedures.
There may be discrepancies in customer accounts, such as a difference in payment, unapplied funds, credits, duplicate transactions, etc.
We check information in accounts and supporting documents for items that could be corrected, clarified or further investigated.
The first step to good AR management is understanding what needs to be managed.
Canadian Cypress gathers receivables data to help your team know what's due, what's overdue, and what has been paid by customers and who has outstanding balances that require follow-up.
Depending on your reporting needs, we can provide:
Regular AR reporting enables the management to make better decisions regarding the accounts and the cash receipts expected.
Communicating consistently with customers without stressing customer relationships is best done when following up on unpaid invoices.
We adhere to your communication guidelines and expectations. The support provided may involve sending reminders before or after deadlines, asking for payment status responses, documenting customer responses, and referring unresolved ones to your customer representative if necessary.
You make all decisions about account holds, disputes, credit limits and payment arrangements, as well as any other collection actions, for your business.
Sometimes, the reason for late payments is not just that customers have missed a payment deadline. Mismatching purchase orders, wrong contact details, document requests, mismatching of invoices, disputed invoice amounts, and invoices sent to the wrong department are among the most common reasons for delays.
We provide accounts receivable service to assist you in pinpointing circumstances that might be slowing payments and advise you of them for consideration.
This way, your staff will have the chance to get administrative matters sorted out in the beginning, avoiding unnecessary payment delays.
Canadian Cypress integrates with existing accounting tools and cloud-based platforms, ensuring the seamless and precise management of receivables and their reporting.
We're familiar with platforms like:
If applicable, we integrate into your existing accounting system and agreed-upon AR procedures so you don't have to change your accounting system.
Your accounting system can handle your invoicing, payment tracking, reminders, reporting and other normal accounting functions, and our staff can handle the human side of things, reviewing your account activity and reminding you of things that need attending to.
Located in Victoria, BC, Canadian Cypress offers remote accounts receivable services to companies throughout Vancouver Island as well as Canada.
We also service businesses in the U.S. through their established accounting systems, billing procedures, payment terms and communication with customers.
Since there are differences in billing, taxes, documentation, and business practices between service providers and regions/areas, we customize every AR process to your business needs and service level agreement.
CPA firms and accounting practices often require extra capacity in the management of their clients' accounts receivable activities.
Canadian Cypress offers outsourced accounts receivable services for recurring client work to manage invoicing, payment tracking, customer payment follow-ups, aging, account reconciliation, and AR reporting.
Our team is integrated into your existing systems, procedures and responsibilities to support your firm to grow without taking on all the AR tasks.
Accounts receivable services include handling customer records, customer invoices, payment information, and financial information that can be delicate.
We practice controlled access and ensure the use of secure cloud-based systems appropriate to each client's accounting environment. Platform-specific protections will vary but could comprise multi-factor authentication, role-based access, secure file sharing, and controlled user permissions.
Our team has access only to the information they need to perform their assigned accounts receivable tasks, thereby making day-to-day AR activities more organized within your current processes.
Yes. We offer Accounts Receivable services to businesses across Victoria, ranging from invoicing to tracking payments, reconciling accounts and reporting AR. Our remote support methodology also enables us to collaborate with businesses throughout Vancouver Island and Canada.
Yes. We offer outsourced accounts receivable service for U.S. companies that are already employing accounting systems, billing procedures, and customers' payment processes. The scope of services will be determined upon onboarding in accordance with your needs.
Yes. We support accounting systems and processes that are compatible. Our staff is familiar with QuickBooks Online, Xero and Sage.
Yes. You are still responsible for credit decisions, payment arrangements, account holds, disputes and collection policies. Our job is to help you with your accounts receivable service process and give you correct information to review.
Yes. As an approved process, we can send your professional payment reminders, request payment updates, record customer responses, and follow up on overdue payments as part of your accounts receivable process.
The price will be dependent upon the number of invoices, customer accounts, aging levels, follow-up needs, accounting software, reporting requirements and the extent of outsourcing the accounts receivable support function. Get your business quote by calling us.
