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7 Steps to Quicken the Collection of Accounts

With unpaid accounts receivables, no one can operate their business smoothly. These 7 easy steps help to collect accounts receivables quickly and run their business smoothly.

LiamHorsley
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7 Steps to Quicken the Collection of Accounts

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  1. 7 Steps to Quicken the Collection of Accounts Receivables NAVKAR CONSULTANCY SERVICES

  2. 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.

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

  4. 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.

  5. 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.

  6. 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.

  7. 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.

  8. 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.

  9. Published By: Navkar Consultancy Services • www.ncscorp.com.au

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