How to Collect from your Clients
As a small business owner, you expect to get paid for the products and services you provide. That expectation doesn't keep clients from delaying payment for weeks or months at a time.
When you get paid has a direct effect on your business's cash flow and can be the difference between staying in business or closing your doors.
Donna Reade, accountant, bookkeeper, and avid blogger, has several tips on how small business owners should go about collecting payments to reduce your accounts receivable in her article titled, "Are you Working for Free?"
In this article, Ms. Reade provides tried and true methods for giving your business the best chance to collect payment from your clients while maintaining a good working relationship. It's important to remember that although you want to be paid for your services, you still want to encourage continued business from your clients.
Your business's cash flow is it's lifeblood and maintaining control over your accounts receivable gives your business the best chance for survival. Add the tips suggested by Ms. Reade to your entrepreneurial repertoire and decrease your accounts receivable today.