B2B collections: When should I turn accounts over to a collection agency?

clock“When should I turn accounts over for collection?’’  This is the number one question I am asked—and there’s no easy answer.

The correct answer would be that ‘it depends.’

The right time to turn over an account to a collection agency is when you determine there is no intent to pay.

Continue reading

Related Post

Posted in Commercial Collections | Tagged , , , , , , , , , , , , , | Leave a comment

Your 4 Steps in Avoiding Small Business Debt

4 coinsRecently we mentioned in our blogs that one of the main causes of business failure is bad debt. Luckily with a little bit of planning and some hard work you can minimize your bad debt.

Here are 4 steps to help eliminate small business debt:

Continue reading

Posted in Commercial Collections | Tagged , , , , , , , , , , , , , | Leave a comment

How to Have Success When Collecting Business Debts

people skillsAs we stated in last week’s blog, one of the main causes of business failure is bad debts and not accounting for them. Luckily with a little bit of planning and some hard work you can minimize the bad debt.

By showing some compassion, communicating effectively and working with your clients, you may collect your outstanding debts and have lifelong customers.

Continue reading

Related Post

Posted in Commercial Collections | Tagged , , , , , , , , , , , , , , , | Leave a comment

Bad Debt Allowances and B2B Collections

consequencesOne of the main causes of business failure is bad debts and not accounting for them. It is possible to have a paper profit but still have problems simply because there is insufficient cash flow.

Any smart company records revenue at the moment it is collected, no matter the form. Bad-debt allowance is an important accounting treatment used to guesstimate the effects of unpaid debt during the same period in which the associated revenue was recorded. Failing to account for these debts can create deceptive impressions that may lead one to believe the company is in better financial shape than it actually is.  Don’t let that be the case for you.

Continue reading

Posted in Commercial Collections | Tagged , , , , , , , , , , , , , | Leave a comment

6 Basic Strategies to Ensure Debt Collection Success

sixCollecting money that is owed to your organization can be difficult and cause frustration if you’re not familiar with strategies that get results.

Continue reading

Posted in Commercial Collections | Tagged , , , , , , , , , , , , , | Leave a comment