How to Collect Your Accounts Receivable

How to Collect Your Accounts Receivable

When you own a business it is necessary for you to develop an accounts receivable collection policy. You need to define the policy in a specific way as to how accounts receivable are handled. You should have guidelines for managing your receivables from before credit is extended to what happens when your customer goes beyond terms.

You should also state in your policy how to handle each step of the aging process including the writing off of non performing receivables. By being very specific as to what you expect of your employees and your customers you will minimize late payments and bad debt.

When you have a plan that everyone understands you will help your business grow and succeed by creating a system that insures a timely cash flow as well as making your client and customers more comfortable with a understandable and consistent policy that is applied to everyone.

If you feel that you need a hand in setting up you’re A/R collection policy we can assist you.  Sterling United has helped many businesses in not only collecting past due commercial debt but preventing bad situations or bad customers from becoming problems for the business owner.

Debt collection can make or break a business. Outsourcing collection service is one of the best ways of controlling not only bad debt but cash flow as well. 

Sterling United resolves 83% of bad debt in the first 10 days of collection. Make sure your cash continues to flow.