Getting Paid On Time & Pavlov Kevin 3 Dec, 2020 Accounts Receivable Management, Vienna's Views No comment Getting paid on time takes work, but done properly and consistently it pays off. I’ve maintained for years that in-house collections, done correctly is a very Pavlovian process. What I mean is, if you follow up on unpaid invoices, consistently and courteously, you will train your customers to pay faster. Have you ever noticed how Continue Reading… Share this:TwitterFacebookLinkedIn
Accounts Receivable Invoicing Errors Vienna 14 May, 2020 Accounts Receivable, Vienna's Views No comment Accounts Receivable Invoicing Bad Debt Prevention Part 2 Accounts Receivable Invoicing is step 2 in a 3 step path to payment. Make a sale Create and send an invoice Collect payment for the invoice When all goes well, it’s a simple and elegant process leading to prompt payment, positive cash flow, and profitability. Unfortunately, the Continue Reading… Share this:TwitterFacebookLinkedIn
Bad Debt Prevention Learn How Vienna 1 Apr, 2020 Accounts Receivable Management, Bad Debt, Vienna's Views No comment Bad Debt Prevention Part 1 Bad Debt Prevention Read this 4 part series to discover the most common and preventable errors your accounts receivable department makes that can lead to bad debt losses. I believe, after nearly 30 years of making collection calls in over 40 industries, that many, if not most, collection problems are Continue Reading… Share this:TwitterFacebookLinkedIn
Accounts Receivable Collections a Guide Vienna 20 Mar, 2020 Accounts Receivable, Vienna's Views No comment A Guide to Accounts Receivable Collections The Objective The objective of Accounts Receivable Collections is to collect your companies outstanding invoices as close to the due date as possible, with as little effort as possible, in as little time as possible, using as few resources as possible, without damaging your relationship with your customer or Continue Reading… Share this:TwitterFacebookLinkedIn
What is Accounts Receivable Management? Kevin 17 Feb, 2020 Accounts Receivable Management, Vienna's Views No comment Accounts Receivable Management is the work you need to do so that you or your company can get paid. Generally speaking, the faster you can collect your outstanding invoices, the healthier your cash flow, and therefore, your company is. Share this:TwitterFacebookLinkedIn
What is Accounts Receivable? Definition Vienna 4 Jul, 2019 Accounts Receivable Management, Vienna's Views Accounts Receivable Management, accounts receivable system No comment Accounts Receivable What is Accounts Receivable? Accounts receivable is the money customers owe a business for the products and services they’ve purchased on credit from the business. It’s all of the invoices your company has generated for goods sold and services offered, added together. So, accounts receivable represents money owed to your company. What is Accounts Payable? Accounts payable Continue Reading… Share this:TwitterFacebookLinkedIn
How to Write a Collection Letter Vienna 27 Jun, 2019 Accounts Receivable Management, Collection Letters, Vienna's Views No comment How to Write a Collection Letter for Business It seems a lot of people enter the search term “How to Write a Collection Letter” into Google. When I first became aware of that I was, quite honestly, mildly baffled – or more accurately I wasn’t sure what folks were really asking. So I decided to Continue Reading… Share this:TwitterFacebookLinkedIn
Personal Guarantees – How, When and Why? Vienna 30 Nov, 2017 Accounts Receivable Management No comment Personal Guarantees – How, When and Why to Use Them? WHY? Personal guarantees simplify the collection process and put you at the top of the list when a customer has to prioritize. It means, if a company fails to pay a business debt the owner agrees to pay personally. You still may not get paid Continue Reading… Share this:TwitterFacebookLinkedIn
The Truth About Collections Vienna 10 May, 2017 Accounts Receivable Management, Collection Prevention, Vienna's Views No comment The Truth About Collections Ben Franklin first said it in 1735 almost 300 years ago – and it’s as true today as it was then. “An Ounce of Prevention is Worth a Pound of Cure” I mention this because one truth you need to know about collections is that an average collection agency has Continue Reading… Share this:TwitterFacebookLinkedIn