Tips to Manage 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.

ARTICLE TRANSCRIPT: https://financiallysimple.com/19-tips...

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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BIO:
Justin A. Goodbread, CFP®, CEPA®, CVGA®, owner of FinanciallySimple.com, 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. Multi-year winner of the Investopedia Top 100 Advisor award and Exit Planning Institute’s Exit Planner Leader of the Year. Please visit HeritageInvestor.com to learn the criteria used in earning these credentials and awards.

DISCLAIMER:
Host Justin Goodbread owns Heritage Investors LLC, a registered investment adviser with the State of Tennessee. Heritage Investors only transacts business in states where it is properly registered or is excluded or exempted from registration requirements. This material is for general information only and is not intended to provide specific advice or recommendations for individuals. To determine what is appropriate for you, please consult a qualified professional. The Financially Simple podcast provides information, guidance, and support to Small Businesses in the United States.