JustPaid, the AI-powered FinTech company that specializes in helping small and midsize businesses manage their finances, has officially announced the launch of brand new reporting features for both Accounts Receivable and Accounts Payable. We begin from accounts receivable reports that are designed to help you keep a constant track of workflow. Here, JustPaid has introduced, for starters, an AR Ageing Report, which essentially breaks down your receivables based on how long they’ve been outstanding. A functionality of this sort means managers can use it to understand potential cash flow issues. One can also prioritize follow-ups on long-outstanding invoices for the purpose of keeping cash inflows as smooth as possible. Next up, we have the Received Payments report, a solution bringing to the fore one markedly comprehensive view of all payments you’ve already received. Given its ability to touch on in-depth data, the solution presents itself as something suitable for reconciling your accounts and getting a clear picture of your revenue streams. Moving on to Credit Memos Report, this one is all about conceiving a detailed account of all credit memos issued. By doing so, the stated report ensures that we are able to monitor adjustments or returns, and at the same time, manage the business’ overall financial health in an effective manner. Joining the same is a Revenue Recognition Report, which bears the responsibility to align revenue with the associated services or goods provided. Owing to that, the solution helps you recognize revenue accurately and compliantly as per accounting standards. We touched on the Received Payments report, but the development in question also offers a Payment Reconciliation Report, a solution that matches payments received to their corresponding invoices. Such a facility should go a long way to fulfill the agenda of making sure that all the available cash is accounted for in the books. The final accounts receivable solution pertains to a Days to Collect Report, where you get an analysis of the average time taken to collect payments, an analysis which lets you effectively asses the efficiency of your collection processes.

“With the new reporting features, financial controllers, credit managers, sales managers, auditors, and so many others will be able to use these reports as a critical financial management tool with broad applications across various organizational roles,” said Anelya Grant, CPO and co-founder of JustPaid.

Turning our attention towards JustPaid’s Accounts Payable solutions, they also begin from an AR Ageing Report. Basically, the idea here is to help you better manage all cash outflows and avoid late payment penalties. Next up, there is a Top 10 Categories in Spend Report. Like the name suggests, the stated Spend Report is nothing but a breakdown of your spending into categories that intends to give you an idea regarding where your money is going the most. Almost like an extension of the same, there is also available a Top 10 Vendors in Spend report, which helps to identify the vendors with whom one is spending a bigger chunk of their money. This particular lowdown should prove useful in the context of negotiating better terms with your key suppliers, or even diversifying your vendor base.

“JustPaid has transformed my approach to interacting with our financial data. Simple setup, clear insights—like having an in-house financial analyst,” said Daniyal Afzal, co-founder of Decoda Health and a JustPaid user.