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Case Study 1

Accounts Receivable Cleanup for a Software Development Company

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Software development | July 2023

Accounts Receivable Cleanup for a Software Development Company

NovaTech Solutions is a fast-growing IT and software development company based in Jakarta, Indonesia. As they expanded, their internal team struggled to keep up with the volume of financial transactions, vendor payments, and monthly reports. They approached our firm seeking a structured bookkeeping system and accurate financial documentation to support decision-making and compliance.

Client Overview & Business Challenge

The client had three years of messy books. About 150 invoices weren’t marked as paid correctly, and customer payments had been applied to the wrong invoices. As a result, the client couldn’t tell how much was owed or by whom, and the bank accounts were unreconciled.

Strategy & Approach

  • Reviewed every invoice and traced which payments had been applied against it
  • Corrected misapplied payments and reconciled all bank accounts
  • Requested remittance details from customers to confirm what each payment covered
  • Sent customers statements of their account from our ledger and agreed balances with them

Results & Business Impact

  • A clear, accurate picture of how much each customer owed
  • Regular payment reminders put in place to chase outstanding invoices
  • No receivables overdue by more than 30 days
  • Improved cash flow: money stuck in old unpaid invoices was collected instead of being written off
  • Better decisions: with reliable receivables, the client could see which customers paid slowly and plan cash for hiring and expenses with confidence

Key Learning

Receivables are only as reliable as the payment matching behind them. Applying each payment to the right invoice, and confirming balances directly with customers, turned three years of uncertainty into a receivables ledger the client can trust and act on.

“Working with your team was a turning point for our operations. We finally feel in control of our numbers, and making decisions has never been this clear. The level of professionalism and consistency is outstanding.”
Clara Wijaya
Chief Operating Officer, NovaTech Solutions

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