Monitoring your accounts receivable performance is the first step in improving the way you manage it; after all, “If you don’t know where you are going, you will probably end up somewhere else.” (Laurence J. Peter ). Below we’ve compiled and explained, in plain English, some of the most important metrics you should consider when
At this point you’ve worked very hard to collect the invoice from your customer directly; you have made numerous phone calls, sent emails, left messages, and sent three previous collection letters. At this point it’s time to let someone else take over, such as a collection agency or the courts. You’ve already warned your customer
If you have gotten to the point where you are now sending your third collection letter, there is definitely something wrong and the likelihood of collecting the invoice on your own is getting slimmer every day. While you have done your best to work with the customer, it’s time to send them their final collection
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