When To Collect – And When To Forget – A Debt
Dealing with issues of late payment for your goods or services is not an uncommon situation in today’s uncertain economic conditions. After all, we all face a multitude of obligations, and some debtors may not be able to meet all of these immediately. Some late payments can be recovered, but some may just not be…
Read More5 Reasons Stopping You From Hiring A Debt Collector – And Why And When You Should
Collecting debt is not easy. As a business owner, you’ve got your business to run, and dealing with unpaid invoices on top of that can be a drain on time, money and, ultimately, your patience. Simply hoping that the debtors will eventually pay up is not an option – while you wait, their debts may…
Read MoreHow to identify customers who won’t pay
Offering credit as a payment option can open your business up to new customers. However, when offering credit, you are essentially financing your customer’s business while taking risk on yourself. To safeguard your cash flow, it is important first to do your homework and ensure your prospective customer is worthy of credit. There are many…
Read More5 steps to getting paid more quickly
Getting paid on time is a common point of pain for many small business owners, especially those who are just starting out. It doesn’t matter how many sales on credit you make, at the end of the day, money not yet received won’t put bread on your table or keep your business afloat. You’ve got…
Read MoreTips for setting up your trade terms and conditions
You’ve got your big idea, your products or services are ready to go, and there is certainly interest from potential customers. As a small business owner about to launch operations, one of the top tasks to check off your list should be setting down your terms and conditions. Terms and Conditions (T&Cs), sometimes known as…
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Monday, 28 May 2018
Why Record Keeping is Important to Collecting Debts
Despite what many people think, debt collection does not have to be costly or painful. Good debt management involves adhering to appropriate contact practices, respecting the debtor’s privacy, and, crucially, keeping comprehensive debt collection records. It may be tempting, especially if you run a small business or work with just a few big customers, to…
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Tuesday, 21 November 2017
When to Hire a Collection Agency & How To Lodge a Debt
When your client hasn’t paid that invoice you sent out months ago, you may be wondering… what now? The payment is really late, and you, as the business owner, cannot afford for it to go unpaid any longer. Perhaps you’ve tried to make contact with your late paying customers several times, to no avail. When…
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Thursday, 5 October 2017
Debt collection for small businesses: Tips & Tricks
At some point, every operating business whether large or small has had to face, or will possibly have to face, a situation involving debt collection. In today’s fast-paced economy, some customers may be having more difficulty than normal paying their overdue debts. For small business owners, navigating these waters can be a little tricky. Recovering…
Read More5 Tips for Managing Accounts Receivables for Small Business
Accounts Receivable is an unavoidable aspect of business as invoices are sent out periodically for payment of work completed. Managing your accounts receivable process can be difficult and time consuming work. Here are a few tips:- Maintain correct customer records Clearly indicate payment terms Offer settlement discounts or instalment plans Use an aged trial balance Outsource Know…
Read MoreAre You Feeling Like Your Business’ Accounts Receivables are Out of Control at the Moment?
After the dust has settled from tax time, many businesses become painfully aware that their bad debts are worse than first thought. Are you feeling like your business’ accounts receivables are out of control at the moment? Let us assist with your cashflow. Our team of debt collection professionals at Pro-Collect are here to help…
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