7 Steps to Quicken the Collection of Accounts

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7 Steps to Quicken the Collection of Accounts
Receivables

• NAVKAR CONSULTANCY SERVICES

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1. Speeding Your Invoice

• Be aware of sending invoices to clients on time.
  Because, if any delay in sending invoice than
  payment too will get delay.

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2. Billing at Right

• Make sure your invoices billed rightly so that
  there will not need any further corrections.
  Since corrections will delay proceedings.

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3. Be Smart on Fixing Credits

• Think twice before raising credit limits to an
  individual by considering your sales. Because it
  will create a negative impact on your economic
  circumstance if they make any delay.

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4. Have Feasible Payment Options

• Be versatile on payment options. Having feasible
  payment options will prompt clients to pay
  quickly and it will increase your cash flow.

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5. Maintain Aging Reports

• Maintaining aging reports helps you track clients
  according to their pay category. By doing so, you
  can easily get information about pay history of
  particular clients.

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6. Feel Free to Communicate and Record
Interactions

• Never hesitate to communicate in all available
  modes, if you are not receiving a proper response
  from your clients. However, make sure you are
  communicating politely and non-threatening mode.

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7. Hire a Collection Agency

• Finally, if you found no resources to quicken
  collection of your accounts receivables then
  consider about hiring a collection agency.

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Published By
Navkar Consultancy Services
www.ncscorp.com.au