This metric provides the average number of days it takes to collect an outstanding invoice after a sale has been made. , we can use the given information from the forecasted balance sheet and income statement.Collecting accounts receivables (AR) stands out, as it enables companies to turn invoices into cash. Possibly the best thing you can do for your business is to pick one or two days of the month and designate those days as your "Billing Days. Last week, we looked at Cash is King in a business and mentioned some guiding principles for accounts receivable, inventory, and accounts Apply to Accounts Receivable Clerk, Controller, Finance Assistant and more! The adage that "cash is king" is as important for investors evaluating a company's investment qualities as it is for the managers running the business. Balance sales and use tax monthly for each job billed. • Prepare customer statements and mail. Some iterate organically until they have a workable product that truly meets a market need before turning to venture capital as rocket fuel.