The vast majority of accounts receivable disputes are due to honest customers perceiving (real or imaginary) an error somewhere in the process.
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.
Believe it or not, management impacts the attitude of even indirect employees. Accounts Receivable is an often thankless job, but it holds the key to the cash flow into your business.
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 […]
In times of economic instability, paying bills becomes problematic as the flow of income becomes more uncertain. Whether the markets are running scared in fear of national elections, territories seceding, or countries leaving the EU; unstable […]
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 […]
More than 90% of businesses which operate on credit have dealt with late payments in the last 12 months. Foreign or domestic transactions don’t matter, neither does the industry, although some are statistically more likely to pay late than others.
Again, we stress the importance of the follow-up call after your account receivables staff or invoice automation software sends the invoice to make sure it went to the right person.
Uncollectible is one of the four-letter words in Account Receivables that no one really wants to talk about. It’s better to focus on the late payers than the non-payers because, let’s face it, it’s depressing. But there’s good news!
Report on trends for account receivables average payment delay are not confidence inspiring. The average payment delay (the time it takes to settle payment on past due invoices) in the U.S. is 34 days for domestic account receivables and 45 days for […]