Successful In-House Debt Collection – Step-by-Step
If you’re a small business owner or an accounts receivable manager, this series is for you.
Nothing will kill a business faster than running out of cash. It won’t matter how well you serve your customers or how good your products are if you allow too much cash to be tied up in your accounts receivable your cash will suffer. Working is great! Getting paid is better, and getting paid on time is better still.
If you manage your accounts receivable well you’ll get paid on time more often. Translation: better cash flow + fewer bad debt losses = more profit = more cash = less stress = happier employees = happier customers etc etc.
Like any other well run area of your business, to manage your accounts receivable well you need a system. You need to make decisions about credit and collections in advance - before a problem arises. Write those decisions down. That’s a system. Simple really, but often neglected. So, we’re putting these tutorials together for you, to help you get it done. We could have waited until we got the whole thing completed before publishing, but we know you need this now, so we’re posting as we work.
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