National Accounts Receivable Day is being supported by finance and accounting leaders including American Express, Invoiced, The Credit Research Foundation, Sage Intacct, Avalara, GoCardless and CollBox. The inaugural National Accounts Receivable Appreciation Day, originally organized by Invoiced, was first celebrated on March 7th, 2019.
National Accounts Receivable Appreciation Day is a celebration of the people, process, traditions and value of accounts receivable in today’s business world. This national day honors the teams and individuals who work tirelessly to collect on outstanding sales and make sure that the rest of the business world can continue making payroll, paying suppliers and serving customers. Due to the current COVID-19 pandemic, many businesses who send out bills have experienced significant challenges and delays in receiving payments, making the accounts receivable function even more crucial to overall business performance and continuity.
“This year more than ever – the focus is on and should remain on accounts receivable,” said Bill Balduino, President and COO for The Credit Research Foundation. He further explained, “Businesses are suffering and need support meeting their payables obligations, while others are desperately trying to assess which receivables merit pursuing or litigation. Still others are methodically chasing outstanding A/R to provide much needed working capital, and on and on. But one thing they all have in common: their focus is accounts receivable.”
Accounts Receivable professionals play a significant role in how businesses operate by collecting on outstanding sales. This is especially true within the current businesses environment in which it’s getting harder for businesses to secure timely payment on outstanding debt. Without the work of skilled, diligent A/R professionals, companies wouldn’t be able to collect and process the cash needed to make payroll and continue operations. America’s A/R pros deserve to be recognized for the crucial, and often, thankless, role they play in modern business.
National Accounts Receivable Appreciation Day is for businesses of all sizes and can be celebrated in private or in public. The official day of celebration was created and registered by Invoiced via the National Day Archives in January 2019. For more information and to read and share stories about accounts receivable, billing and collections visit ReceivableDay.org.
Editor's Note: Insightful Accountant would like to salute every business that contributes to this great economy through the offering of Accounts Receivable (the extension of credit) to their customers along with those customers who support those businesses by purchasing their merchandise and services that drive the economic engine which makes our Society and our American Way of Life so Great.
Note: This is a summary of a press release, you can access the full Press Release here.
Pandemic-Proof Cash Management with A/R Automation
May 28, 2020 Free Webinar | 4:00 p.m. Eastern Time | Presented by Adam Weinroth
Join the experts at Invoiced, the #1 rated accounts receivable automation platform, for this webinar on how the pandemic is affecting A/R along with a detailed demonstration of how businesses are using innovative A/R automation technology to get paid faster, spend less time on collections and provide an easier payment experience for customers.