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 so 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: BLOG: 19 Tips for Improving Accounts Receivable Collections
00:27 - Tips to Manage Accounts Receivable
01:16 - 1- Get Organized
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 - Installment 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
Justin A. Goodbread, CFP®, CEPA,
CVGA, is a nationally recognized financial planner, business
educator, wealth manager, author, speaker, and entrepreneur. He has
20+ years of experience teaching small business owners how to
start, buy, grow, and sell businesses. He is a multi-year recipient
of the Investopedia Top 100 Advisor and 2018 Exit Planning
Institute’s Exit Planner Leader of the Year.
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