Money
Delinquent Accounts: The 3 Simplest Ways to Get Them Paid Fast
Nobody likes those words: delinquent accounts. Just hearing the phrase makes most business owners cringe. Delinquent accounts are synonymous with many things: a lack of cash, strained customer relations, losing sleep, unknown pay days, etc. etc. Delinquent accounts are something NO…
Money, Receivables Management
The 6 Most Ineffective Ways to Manage Your Receivables
Everybody wants to get paid and everybody wants to get paid on time. Getting paid is a business of itself, and it takes diligent management of your receivables to make it happen. However, not everyone realizes how much attention receivables…
Money
Cash Flow Management: The Key to Your Business’ Vitality
You’d be hard-pressed to find a business owner who didn’t believe in the value of excellent cash flow management. The reason? Because they don’t exist. Business owners who don’t recognize the necessity for stellar cash flow management don’t stay business…
Got Invoices?, Money
How Collecting Invoices Is Eating Up Your Time
So, 73% of small businesses have had trouble collecting invoices in the past 12 months. What’s even worse is that these small businesses who deal with late payments are spending 6 hours a week chasing them. “Time is money” is…
Money
4 Types of Late Paying Customers and How to Handle Them Each
When it comes to late paying customers, no single one is alike. Each has a different excuse for not paying, which constantly keeps you on your toes. However, deal with enough late paying customers and you start to see trends.…
Money
Write Off Bad Debt: What It Means and Why You Should Prevent It
Every small business owner wants to know the answer to this question: “Can I write off bad debt”? The answer is mostly yes, especially when your a business who has receivables. Learn what is means to write off bad debt…
Money, Receivables Management
Get Paid On Time: Your Receivables Starter Kit
You not only want you customers to pay you faster, but you want to get paid on time. Is that really to much to ask? No! However, it can’t be done without work, so it’s time for a little small business…
Money
Reduce DSO: Minimizing Your Days Sales Outstanding
There’s no reason to beat around the bush. Plain and simple, a lack of cash to operate with will literally kill your small business. In fact, poor cash flow management destroys businesses of all size, every year. What makes “proper…
Money
Extending Payment Terms Without Breaking the Bank
If you are selling on credit to your customers, they are treating you like a bank. They buy from you and end up paying months later. You are basically giving your customers free working capital. Payment terms are helping your…