Collection Prevention Part 3 Vienna 19 Nov, 2018 Accounts Receivable Managment, Collection Prevention, Vienna's Views No comment Accounts Receivable Collections Collection Prevention Part III Not to be annoying but I have a couple more things to say about invoicing. Last month I failed to mention either terms or late fees. Both are important so I think it’s worth taking up a bit more space to talk about them. Terms First terms, you Continue Reading… Share this:TwitterFacebookLinkedIn
Accounts Receivable Invoicing Errors Vienna 9 Nov, 2018 Accounts Receivable, Vienna's Views No comment Accounts Receivable Invoicing Collection 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 positive cash flow and profitability. Unfortunately, the number of ways Continue Reading… Share this:TwitterFacebookLinkedIn
Accounts Receivable Collections Vienna 6 Sep, 2018 Accounts Receivable Managment, Vienna's Views No comment Accounts Receivable Collections Collection Prevention – Part 1 This series is based on my belief, after nearly 30 years of making collection calls in over 40 industries, that almost all collection problems are preventable. That means YOU could have done something to save yourself the aggravation and expense of having to use a collection agency Continue Reading… Share this:TwitterFacebookLinkedIn
Credit Reporting & The FDCPA – What You Need To Know Vienna 15 Aug, 2018 Credit Policy, Vienna's Views No comment Share this:TwitterFacebookLinkedIn
Contingency Collections – No Collection No Fee? Vienna 11 Jun, 2018 Contingency Collections, Vienna's Views No comment Contingency Collections and How it Works Sometimes we forget not everyone understands industry jargon. No collection no fee is the concept behind contingency collections and it’s the collection model most people are familiar with. Here’s how it works. You give me your collection account and if I can collect it I keep a percentage of Continue Reading… Share this:TwitterFacebookLinkedIn
The Truth About Collections Vienna 10 May, 2017 Accounts Receivable Managment, 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
7 Ways to Guarantee Collections FAILURE! Kevin 4 Apr, 2015 Default, Vienna's Views No comment 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 Continue Reading… Share this:TwitterFacebookLinkedIn
How to Collect Small Balances Kevin 17 Oct, 2014 Default, Vienna's Views No comment 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, Continue Reading… Share this:TwitterFacebookLinkedIn
How to Send an Overdue Bill to Collections Kevin 24 Aug, 2014 Bad Debt, Vienna's Views No comment 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 Continue Reading… Share this:TwitterFacebookLinkedIn
Pavlov and Getting Paid On Time Kevin 30 Jun, 2014 Accounts Receivable Managment, Vienna's Views No comment 2014-06-29 I’ve maintained for years that in-house collections, done properly is a very Pavlovian process. (I’m not sure Pavlovian is really a word, but it ought to be) What I mean is, if you follow up on unpaid invoices, on time and consistently, you will train your customers to pay faster. Have you ever Continue Reading… Share this:TwitterFacebookLinkedIn
