Dynamics 365 Consulting Services

When it comes to billing, invoicing and payment collection, there’s much more involved than just sending out an invoice. One of the main challenges of a cloud solution provider within the Microsoft CSP Program is to either create or find solutions that will standardize the invoicing and payment collection process to help scale their business. To scale the business service providers, must tackle several tasks seamlessly: Provision and bundle services and offerings Pro-rate based on usage and providing usage metrics Invoices Creation Delivery of Invoices Payment Collection For many IT services companies including Microsoft partners, billing reconciliation and payment collection is a manual task that can take upwards of 10 hours a month for just 15 recurring customer invoices. This effort grows significantly based on the volume and types of services provided. There is coordination between the accounting, sales and operations team to collect all the data necessary to just ge

As a Microsoft Partner and CSP, a requirement is to have billing automation and accounting systems in place to keep a record of transactions and send out invoices. While the line between the two different systems has blurred in recent years, billing automation and accounting systems still serve two different purposes and require a software decision. Today, we’ll review the differences between billing automation and account systems in order to help cloud businesses build efficiency. The Differences Between Accounting And Billing Systems  Accounting Systems An accounting system like Quickbooks, NetSuite, Xero, or Freshbooks, is meant to document and classify all of a business’s financial transactions. It is most commonly used to show the following data: Money that comes in and goes out of the business Total revenue Total profit Company budgets and expenses Accounts payable and receivable Most accounting systems allow users to create manual invoices, which can handle the