View All | January 2020 Newsletter Edition


Many companies run into problems with customers or clients not paying their bills on time — or not paying at all.

The best way to avoid uncollectible bills depends on several factors — such as whether you sell products or services and the type of payment practices that are customary in your industry. For example, payment upon delivery may be more common in retail transactions but it is not common when providing services or in transactions between manufacturers and suppliers.

Despite the differences, there are some guidelines that can help most types of businesses. Your overall goal should be communication with your customers and clients. Specifically, here are some DOs and DON’Ts to consider.

If your business continues to experience a high number of delinquent accounts, take a look at your procedures to extend credit. You may need to change your contracts or conduct thorough credit checks — especially with larger clients.

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