Collection of account receivable on time is no easy task it
needs patience and a team work to work accordingly without any frustration. Few
tips can help you in receiving your account receivable back from clients. Always
include name, address and description of that product. Try to collect account
receivable without generating invoices, but if customer denies paying the bill then
you need to show your legal obligation.
Always set a particular time period to reply from your customer. Remind
your customer that at the time of payment promises done by them.it helps in
reducing your billing cycle. When you easily reduce billing cycle you can
decrease the overall collection period of your firm. Your billing process
should be effective which should be followed strictly to get completed as soon
as possible.
Establishing your terms of payment can help you in collecting account receivable.
You may have a different work if you work as an independent contractor in such
case you are handling different projects. This entire variable can easily
impact your business so it’s important to prepare a agreement between you and
your client.
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