I gave you a few tips recently on managing your cash flow and I have a few more for you. We talked last time about billing on time. I can’t say it enough. Bill on time…It’s the cornerstone of a well oiled accounts receivables system. As someone who has worked at a collection agency for over 20 years, I have seen far too many times, businesses coming to seek the assistance of collection agencies only to find they have not paid attention to the basics. That and professional accounting software were my last two recommendations.
Here’s a couple more:
Make sure your customers understand your billing policy right up front. […]