5 Tips for Increasing Your Accounts Receivable Collections
Oct 4, 2023
How to shorten the average time frame (40 to 60 days) for A/R collections
Podcast Highlights
What is the Average Accounts Receivables Timeframe?
- The average timeframe is 45 to 60 days.
What Are 5 Tips for Increasing Collections of Your Accounts Receivables?
- Check credit before you go into a deal or commit to a larger sale.
- Take a deposit upfront.
- Allow credit cards. These cards charge fees but a credit card for a new customer gives you your payment.
- Leverage technology. Every good accounting systems has workflows and reminders. You can assign them to certain customers to send emails before their invoice is due.
More here: https://sba.thehartford.com/media/podcasts/increase-your-accounts-receivable/
