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Vienna’s Views

7 Ways to Guarantee Collections FAILURE!

Most small business owners know they have to do something to collect receivables in a timely manner. Even if you don’t know the statistics, personal experience has surely taught you that not everyone pays on time, and those late payments cost you money. Does this scenario sound familiar? Business has been pretty good. It’s Friday […]

How to Collect Small Balances

I wrote an article last year about collecting small balances and in it I suggested that “putting a simple system in place for collecting your small balances will reap the rewards without draining you of time and energy” but I didn’t give you the system.  Don’t know what I was thinking.  So here it is, […]

How to Send an Overdue Bill to Collections

I was recently surprised by the question – “How do I send an overdue bill to collections?”  I suppose I’m so immersed in this world of accounts receivable and debt collection I’d forgotten not everyone knows what to do or how to submit a bad debt to a collection agency.  So let’s talk about it […]

Worth The Read

plat • i • tude n.  A trite or banal statement or remark, esp. one expressed as if it were original or significant. Printed in the  Wall Street Journal weekend of Aug 16th, 2014; originally printed in the Pittsburgh Tribune-Review Aug 12th – Economist Donald Boudreaux wrote: A good way to test if someone is speaking […]

On Time vs No Time

  I was checking out some competitive websites this weekend and noticed the headline “No Time to Call Past Due Customers?”  Naturally we are always looking for companies that have no time to call past due customers so I stopped to read it.  Nothing new there, essentially the same pitch we give, if you don’t […]

Accounts Receivable Management for Small Business

While most small business owners and managers get the “Cash is King” maxim and understand the need to collect accounts receivable quickly and without aggravating their customers, collections work tends to resemble the neglected step child of the back office environment and is frequently neglected in favor of more urgent or more agreeable tasks.   […]

In-House Collection Letters

I noted last month that third-party collection letters, in other words collection letters written and mailed from a collection agency, are more effective than In-House collection letters.  While this is true later in the collection process, In-House collection letters have their place.  In-house collection letters can and should be a component of any complete accounts receivable […]