Collecting Receivables

Collecting receivables should be taken as a serious business. Respect your customers, but respect your business as well. Adequate tracking and assurance will help ensure your company’s survival into the next phase of business. Be direct and attendant to your receivables to make your payables.

Sometimes collecting receivables is not as easy as you may think. Approaching a customer for payment can be difficult. However, if your client has consistently failed to pay, this is basically stealing straight out of your pocket. Don’t forget to account for the time you spend tracking down and collecting receivables. Credit should be earned not expected. Set limitations and track payment history to offer payment scheduling.

It is not uncommon for collecting receivables to spill into the courts. Unfortunately, just because you win a claims case against a delinquent account doesn’t mean that you will be paid, it just means that you should be, you still have to collect.

Collecting receivables is imperative for a business to survive; it takes a large amount of revenue to clear one delinquent account.

• Why Write Business Plans
• What Motivates Success
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• Successful Mindset
• Preparing a Business Plan
• Professional Goals
• Paying Payroll Taxes
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• Mileage Reimbursement
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• Hiring Employees
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• Work From Home Ideas
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• Customer Service Speaker
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• Collecting Receivables
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