Tips to Manage Accounts Receivable

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In episode 122 of Financially Simple, Justin gives some tips on managing your Accounts Receivable.

How to get paid, without any hassle, and on time - it makes running a Business much easier! Justin lists 19 tips on making the payment process easier for your customers, and less of a headache for you.

ARTICLE TRANSCRIPT: https://financiallysimple.com/19-tips-for-improving-accounts-receivable-collections/

TIME INDEX:

00:27 - Tips to Manage Accounts Receivable

01:16 - 1- Get Organised

02:44 - 2 - Expedite the Invoicing Process

03:13 - 3 - Use the Credit Limit

03:57 - 4 - Revise Customer Payment Terms

05:15 - 5 - Creatively Communicate

05:52 - 6 - Start Early

06:19 - 7 - Change Your Billing Cycle

06:51 - 8 - Offer Multiple Payment Options

08:20 - 9 - Don’t Wait

08:55 - 10 - Remind Remind Remind

10:12 - 11 - Stay Professional

10:52 - 12 - Maintain Positive Relationships with Customers

12:10 - 13 - Collection Call

12:54 - 14 - Prepare for Excuses

13:30 - 15 - Instalment Plans

14:00 - 16 - Establish Conservative Credit Policies

14:31 - 17 - Finance Charges & Rewards

15:17 - 18 - Outside Resources

15:59 - 19 - The Experts

16:38 - Summary

USEFUL LINKS:

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DISCLAIMER:

Neither Financially Simple, LLC nor its affiliates offer tax or legal advice. Interested parties are strongly encouraged to seek advice from qualified tax and/or legal experts regarding the best options for your particular circumstances. Justin Goodbread, CEO of Heritage Investors, LLC, a Registered Investment Advisor, is an Investment Advisor Representative who offers advisory services through Heritage Investors. The information contained within the podcast is for informational purposes only and not considered investment advice. Seek help from a competent Financial Advisor.

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