Collect Your Past Due Accounts Receivable
Collect Your Past Due Accounts Receivable
Your customers take paying you as seriously as you are about collecting payments. Allowing payments to trail well after the due date trains the customers that they can pay you late. Your accounts receivable are interest-free loans to your customers. There is a cost for those funds. Don’t let your customers create big costs for you by paying late.
When you're trying to collect past-due accounts, there are a few key things you should know. It's not always easy to collect past-due accounts from customers. But if you follow these tips, you'll be able to collect more from your overdue accounts.
Find out what you need to know when collecting past-due accounts. I’ll explain:
•Tips to make contacting past due customers easier
•The one question you want to ask when talking with past due customers
•Ways to automate parts of the collection process
•Pros and cons of using collection companies