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Financially Simple Bizcast


The Financially Simple podcast is your one-stop resource for small business owners. Gain unique insights into growing, refining, and selling businesses. You will hear ways business owners have reduced their tax liabilities, increased their income, improved office morale, saved for the retirement of their dreams, and more.
Host Justin Goodbread is a serial entrepreneur, award-winning CFP® (Certified Financial Planning professional), CEPA® (Certified Exit Planning Advisor), and CVGA® (Certified Value Growth Advisor) with years of experience guiding business owners from start to exit in their business.

Jan 17, 2019

In episode 122 of Financially Simple, Justin gives some tips on managing your Accounts Receivable.

How to get paid, without any hassle, and on time - it makes running a Business much easier! Justin lists 19 tips on making the payment process easier for your customers, and less of a headache for you.

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ARTICLE TRANSCRIPT: https://financiallysimple.com/19-tips-for-improving-accounts-receivable-collections/

 

TIME INDEX:

00:27 - Tips to Manage Accounts Receivable

01:16 - 1- Get Organised

02:44 - 2 - Expedite the Invoicing Process

03:13 - 3 - Use the Credit Limit

03:57 - 4 - Revise Customer Payment Terms

05:15 - 5 - Creatively Communicate

05:52 - 6 - Start Early

06:19 - 7 - Change Your Billing Cycle

06:51 - 8 - Offer Multiple Payment Options

08:20 - 9 - Don’t Wait

08:55 - 10 - Remind Remind Remind

10:12 - 11 - Stay Professional

10:52 - 12 - Maintain Positive Relationships with Customers

12:10 - 13 - Collection Call

12:54 - 14 - Prepare for Excuses

13:30 - 15 - Instalment Plans

14:00 - 16 - Establish Conservative Credit Policies

14:31 - 17 - Finance Charges & Rewards

15:17 - 18 - Outside Resources

15:59 - 19 - The Experts

16:38 - Summary

 

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DISCLAIMER:

Neither Financially Simple, LLC nor its affiliates offer tax or legal advice. Interested parties are strongly encouraged to seek advice from qualified tax and/or legal experts regarding the best options for your particular circumstances. Justin Goodbread, CEO of Heritage Investors, LLC, a Registered Investment Advisor, is an Investment Advisor Representative who offers advisory services through Heritage Investors. The information contained within the podcast is for informational purposes only and not considered investment advice. Seek help from a competent Financial Advisor.