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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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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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.