What If Your Money Collected Itself? Imagine invoicing customers and then not having to chase them down for payment. Have you ever calculated how much of your time, or your staff accountant’s time, is spent on calling customers with past due […]
We see the same mistakes over and over again in account receivables departments that complain of constricted cash flow. Even being aware of these habits can prevent headaches down the line.
They say the first written documents ever created were ledgers... The Accounts Receivable tools that most companies use today were created shortly thereafter. Want to get more out of your Accounts Receivable team? If you aren’t using software tools […]
Want to get more from your accounts receivable team? Try offering incentives. Many companies have successfully implemented the following three programs, typically on a quarterly basis.
Accounts receivable depends on a lot of factors for everything to flow smoothly, and it’s always surprising how many people don’t have a strong system in place. When your accounts receivable team grows to more than one person (or even more than just […]
Statistically, your accounting software will alert you about a new past due invoice in the next few months. There are some industries which are worse than others in the tardiness department, and can cause your account receivables department more […]
The best way to collect on past due invoices is polite, persistent reminders. Feel free to copy the templates below or use them for inspiration.
There are many ways to send an invoice. These are two of the most effective methods of invoicing to make sure you are getting paid on time.
Sending a payment-due reminder is the best way to make sure you get paid on time. It’s trivial, time consuming and most customers will pay eventually so sending reminders is often overlooked or inconsistent at best. If most customer pay […]