Commercial Collections Blog

Accounts Receivables-Your Pot of Gold

When new sales are a bit flat and your cash flow is tight you can improve your cash situation with a harvest of your past due accounts. A review of all delinquent accounts is always a surprise and a bit of a downer. There are always accounts receivables on the list that you see as some of your best customers and also some new accounts as well. The decision to press harder on the accounts is a sales issue and a cash issue at the same time. The correct answer is hard to come by unless your credit policy is tight and uniform. Treat all your customers with respect and follow your own credit policies without exception.

Contact all you past due accounts and stay in touch weekly until their account is up to date. Some accounts will need to be put on credit management awaiting payment and you should have your limits in place so that the decision is relatiely easy. Do not wait forever to get your commercial collection agency involved because collection is their expertise and you can stay fixed on the newer past due accounts

Technorati Tags agency, Bad Debt, business, collection, commercial, debt, receivables, recovery

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