AR | Account Receivables
Why having an aged balance is useful to all business owners
Your cash ? You've earned it, so go for it !
Aged Balance ensures your company solvability by checking cash is entering the company within the shortest delays.
The cash you don't have yet doesn't serve your company, but customer one.
- Rule #1. The overdue amount must be as low as possible.
- Rule #2. Start to collect those having the biggest overdue.
- Organize your invoice collection. Always start with the ones having the biggest overdue.
- Install an effective communication between collection services and people in touch with customers.
- Frame customer follow-up for those having hard times to pay their bills over the past.
- Grant payment facilities for specific customers (when they always pay on time, for example).