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What to Say When Collecting Past Due Invoices

Enterprise Recovery

When it's your job to collect past-due invoices, what you say matters. Here's what to say when collecting past-due invoices. And what you say will depend on your state of mind when you type the email or get on the phone. It's important that you're well-prepared.

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Don't Let Past Due Invoices Ruin Your Holidays!

Enterprise Recovery

Don't let past-due invoices ruin your holidays! The end of the year signals the looming beginning of tax preparation and budget decisions. It also means closing out the books for the year and discovering delinquent receivables. Use these best practices to bring in more cash before the year is over.

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Effective Communications for Collecting Delinquent Receivables

Your Virtual Credit Manager

If you send an email or text you can attach a copy of their account statement and/or invoice ccopies. On a phone call, you should summarize all amounts past due, such as “you owe $10,000 that is over 30 days past due” or reference one or two large past due invoices (number, amount and due date), but no more.

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Foster Faster Collections with Effective Reminders

Your Virtual Credit Manager

Using a report generator, it should not be difficult to create a report in CSV or XLS format that both lists and totals past due invoices by account. Most small companies, however, do have accounting software, and most of the time that software will have a report generator feature.

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Avoid these Six Collection Myths

Your Virtual Credit Manager

Collectors spend most of their time asking for payments While it is true collectors are constantly requesting payment of past due balances, once that request is made they end up spending most of their time resolving disputes and invoice discrepancies.

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It's Time to Give Your AR Ledger a Spring Cleaning

Your Virtual Credit Manager

Subscribe now The Problem with AR Clutter In a perfect world, your AR Ledger would contain only whole, current invoices; or at least nothing seriously past due. Invoice balances that remain unpaid 60 or 90 or more days beyond their due date are not providing any benefits.

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Does A/R Know When to Escalate to Collections?

Enterprise Recovery

It's crucial to provide a detailed process for escalating past-due invoices beyond accounts receivable to collections. Your A/R department, however, can only do so much to ensure that your business receives the payment it deserves and maintains a healthy cash flow.