Commercial Collections Blog

The accounts receivable aging schedule is a useful tool for analyzing the makeup of your accounts receivable balance. Analyzing the schedule allows you to spot problems in accounts receivable early enough to protect your business from major cash-flow problems.

The A/R aging schedule can be used to identify the customers that are extending the time it takes for you to collect your accounts receivable. If the bulk of the overdue amount in receivables is attributable to one customer, then steps can be taken to see that this customer’s account is collected promptly. If overdue amounts stem from a number of customers, that could be a signal that your business needs to tighten its credit policy toward new and existing customers. For more information call us at 877-740-7839
Burt and Associates
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Technorati Tags ACCOUNTS RECEIVABLES, burtandassociates, business

US Postal Service 

reported a net loss of nearly $730 million for October and November, its first two months of its new fiscal year, as mail volume fell 4% from the previous year’s figures. Postal authorities are anticipating a net loss for its current fiscal year of $7.8 billion. This compares with a net loss of $3.8 billion for fiscal 2009. Does this affect our business debt if  these numbers are this high.

reported a net loss of nearly $730 million for October and November, its first two months of its new fiscal year, as mail volume fell 4% from the previous year’s figures. Postal authorities are anticipating a net loss for its current fiscal year of $7.8 billion. This compares with a net loss of $3.8 billion for fiscal 2009. Does this affect our business debt if  these numbers are this high.

Technorati Tags business, business processes

1. Which Commercial Collection Agency collects your money in the shortest period of time?
2. What are financial costs of each approach?
3. Do you have the right person for very tough collections?
4. Do you need your staff fully dedicated to new overdue claims or does your staff have the extra time for this type of account?

Technorati Tags agency, business, commercial, recovery

As our economy continues to slide do you continually set credit limits on your customers and how often do you review your accounts and their balances.

A review of your largest accounts and their month over month balances can shed light on the growing account balance and predict debt collection difficulties.

It is also true that many smaller accounts with increasing balances will add up to a very substantial portion of your DSO. No system is perfect and a good review of all accounts over 30 days will keep you up to date and ready to react to data on each customer.

Technorati Tags agency, business, collection, commercial, debt

• What % of your invoices are disputed and used as a reason not to pay?
• Do you have a invoice resolution process in writing for customers and your staff?
• Are your payment terms set up correctly for each customer?
• Is your staff able to get new invoices created when errors occur?
• Are you linked to your Finance Department?
• Who makes the call on placing an account with a outside debt collection agency?
• Is your DSO increasing due to bad invoicing or non paying accounts or a combination?

Technorati Tags business, collection, commercial, receivables

When your past due accounts offer to settle the claim for 25% does the account want to give you back 75% of your goods or services? Of course not, this  is time to get all your invoice paid.  Setting a president of low settlements does not help you collect  next time and puts you at risk with this company over and over again.

When you need your cash stay commited to full collections and do not let the emotion of getting a settlement cloud your judgement.

Technorati Tags agency, business, collection, commercial, recovery

• It is more difficult in todays business environment to have business debts collected than ever before.
• It takes resources away from new account billing and collections.
• It may be cost justified by a true cost analysis based on fully burdened internal costs and the external cost.
• It may be of equal cost but the money may come in sooner resulting in better cash flow.
• You may get savings from the change and your freed up staff can get in touch with all the newer delinquent accounts and not let them slide into the not collectable code.

Technorati Tags business, collection, commercial, debt, recovery

Todays economy makes current financial  information for each customer a necessary component of credit  risk  management. When a customer begins to pay slowly or not at all you need an immediate update on their financial condition. The deterioration of financials  can be extremely fast today. Do not wait to get reports on your customers and act on the information. Waiting to pursue collections can put you at he back of a long list and even put your claim into a bankrutpcy situation. Debt management needs to be assertive, constant and unbiased towards all of your accounts. Burt and Associates will risk score your accounts using a propritarty Burt Risk Scoring System that will give you the odds of collection based on factors that we have learned over the last 30 years in the commercial debt collection business. Your sucesses will increase and your cash flow will increase.

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

Money can and does stay on your past due receivables tree, as long as you let it remain, it grows and grows. Plucking your own cash is difficult as the time passes. Every account would like a free pass and the understanding that not paying is all right with you. Lets get honest, are you making it to easy for your accounts not to pay. You will need to be reflective with your answer because some of your past due accounts are very large and very old. Maybe it is time to call in a professional collections agency like us.

Technorati Tags business, receivables

In the economic climate that we are in today, debt collection methods have to continually evolve with the times. Information about the debtor is mandatory for you to push past all the stories and false agreements. The decision to pursue your own money has to be one of dedication to the task and willingness to push aside sales fears of loss of the customer. The account that does not respond to your first written appeal for payment is not going to react as they should. A series of letters and phone calls will not get your cash in as planned in todays market. Put your pens aside and call in the professional at Burt and Associates.

Technorati Tags agency, Bad Debt, business, collection, commercial