As the economy continues to falter, many business owners are faced with customers who can't pay or who might be paying someone else before them. How can you make sure your bills go to the top of the list?
Utilize these strategies and collect more from your customers starting today:
The Top 5 Steps to Take when Customers are Past Due:
Step #1. Refer to your credit policy.
Step #2. Make a phone call.
Step #3. Send a dunning letter.
Step #4. Revoke the customers credit, even just temporarily.
Step #5. Stay on top of your Accounts Receivables and follow up with every customer that owes you money.
Good luck!
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