Even after you’ve set up a structured and well organized accounts receivable system, unless you have strong accounts receivable policies with clearly defined transaction terms, not to mention consistent adherence to those policies and terms, all that organization will...

Having to ask your customers to pay their bills isn’t any fun. So that’s why having a professional and organized system of accounting will do much to relieve you of unnecessary collections woes. Establishing a solid accounts receivable system is vital because it sets...

In the previous article in this two-part series on accounts receivable management training, we discussed the role of the AR manager in account reconciliation, credit extension, and customer service. In this article, we will discuss training in billing, payment...

Your accounts receivables – in other words, your invoices – are among your most important assets. They represent sales that haven’t been paid for yet. Your company’s financing or line of credit may be directly tied to the value of your accounts receivables, a value...

One of the best ways to deal with future trouble is to have a plan in place to avoid it altogether. Too many companies are so anxious to land a customer and begin supplying their product or service that they fail to analyze the credit history or financial position of...

In some cases your customer may be experiencing legitimate issues that are adversely impacting their ability to pay in full and/or on time. In such circumstances, offering mutually advantageous accommodation can go a long way in securing full payment over time. It can...

In this three part series of B2B Collections Strategies we’ll discuss various approaches you can employ to make your accounts receivables management more efficient, and more effective. In this first part we’ll present some general guidelines on how to strengthen your...

Consider this motivating story from Inc.com: “Not a day goes by that Bob Fisher doesn’t thank his lucky stars for Nettie Morrison. But [on March 21, 2002] he was particularly grateful that she worked for him.  That was the day that Foresight, Fisher’s 50-employee...

If you discover that you’re spending more time engaged in billing for and collecting money rather than doing what it is you originally got into business for, you might feel compelled to delegate accounts receivables responsibilities to an assistant. However, you may...

Maintaining a strong and decisive billing process is essential to ensuring healthy cash flow and minimizing late payments from your business customers. Some simple yet critical steps to follow: 1. Monitor when an account opens, the timeline of work being done, and...