Accounts Receivable

This could very well be the most important financial function. Receiving payment for your services or goods in a timely manner can determine whether or not you stay in business so it pays - literally - to ensure that you have effective systems in place to ensure you get paid promptly. This could include setting up a direct debit system for regular customers, offering a variety of payment methods, and following up on any late payments. Additionally, having an efficient invoicing system in place can help ensure that you are paid promptly.