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Minimizing Your A/R

  • Obtain complete contact information at the time of sale or service
  • Get customer to sign a credit application/contract at time of sale or service
  • Check credit references before providing products or services
  • Create a recovery plan that outlines what steps should be taken in the event of delinquency or NSF
  • Focus attention on accounts that start to become delinquent
  • Identify delinquent customers and cease on providing more products or services to them
  • Have validation of the debt on hand ready to provide in a timely manner
  • Maintain consistent credit approval and terms with all customers regardless of relationship with them
  • Utilize a professional collection agency as early as possible

Implementing these tips will improve in-house time management and increase revenue. The "collectability" of any account actually starts the day you grant credit. Follow these simple steps consistently. Time is money. Transfer delinquent accounts to a professional collection agency as early as possible. Let them collect your money, while you free up your time. As the delinquency of an account increases, the chances of collecting that account decreases. Contact us for help.