Friday, March 20, 2015

Management of Accounts Receivables

When people request help with management of accounts receivables, often, what they’re really requesting help with is office organization and perhaps their work space in general. While there certainly are customers who just don’t pay up, other customers merely slip through the cracks or don’t get invoiced due to a poorly organized office environment. Getting organized can help you to bring in more of the money that you’re owed and to have an easier work life in general.   

To begin with, start tidying up the office. If there are papers and files lying around everywhere, how can you possibly know what’s gotten done versus what needs to be done? You can go the traditional route of buying filing cabinets and other organizational tools, or it might benefit you to take your paperwork online via a cloud or other office management system. Many people find it’s easier to stay organized when they’re not dealing with actual paper.

It’s also a good idea to keep a current spreadsheet of all of your customers and the status of their accounts. You might already do this, but you may not be updating that spreadsheet as regularly as possible. To establish good business practices, make sure you enter in payments or missed payments as soon as they occur. Get out of the habit of “doing it later” to save yourself from errors and headaches.

While organizing your office may not magically settle all of your accounts, it can allow you to keep updated in knowing exactly what you’re owed and from whom. Taking some time to get organized now will save you tons of time and hassle in the future.

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