accounts receivable tips

13 tips for collecting receivables - Accounts receivable collection techniques

by yangzixin on Apr 26, 2010

Many entrepreneurs compare collecting receivables as a trip to the dentist’s office which is not an enjoyable part. However, they must face this situation and brave enough to settle this problem. How to manage? Let’s share some tips for collecting receivables.

1 have the reason of default clearly, ignorance, unsatisfied attitude, financial strain or deliberation. Then you can choose different strategy.

2 collect all of the receivables instead of part of it

3 Don’t delay. Don’t put off the collection process in the hope that others will offer it to you actively. Remind them in the form of a letter or phone call friendly which can exponentially increase the likelihood you get your payment sooner rather than later.

4 launch a collection plan. Establish a schedule for your collection process. It gives your process the advantage of consistency. A customer will pay the invoice if you don’t stop reminding.

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