Year End Approaching—– Are you Dealing with Accounts Receivable or Accounts Beggable?

22 10 2010

 The end of the year is approaching quickly and in these economic times many companies are still waiting to close out this years Accounts Receivables and hoping that by the end of the fiscal-year they will recover some these unpaid invoices.

 The end of the fiscal year is judgment day for companies to see if their uncollected receivables will bring in cash off the street and into the companies bank accounts or they will have more losses!

 At this time of year companies are looking at their accounts receivables and seeing what they can come up with during the last months of the year to pull rabbits out of their hats. A/R Departments are stressing over the promised payments of those uncollected invoices.

 For most managers or sales people the idea of begging for unpaid invoices that are overdue is never ideal. Although many companies are dealing with lots of write offs and lost revenues it is still hard to swallow for anyone.

 The job of making that call to tell the customer they owe money is never pleasant and that is why many companies are outsourcing their uncollected receivables to professional Third Party Receivable Recovery Firms a/k/a Commercial Collection Agencies.

 Collecting and chasing after clients that have not paid their bills is probably not the average persons favorite thing to do and by leaving that up to the professionals to handle, you can close the year with out stress, and focus on what you and your team do best staying focused on your business instead of the “Collection Business”.

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