Discover & Recover Past Due Invoices in QuickBooks

Successful businesses rely on positive cash flow to pay salaries, vendors and otherwise re-invest in the company. Cash flow depends on accounts receivables being paid on time and with regularity. Small business owners may be too busy to stay aware of invoices that are past due. Invoicing software programs, such as QuickBooks, can help make this process easier. Enterprise Recovery works with businesses of all sizes, but we have a special team designated to helping accounting departments that run on QuickBooks. 

How to collect past due invoices more effeciently.


Collecting Business Debts: Tips for Getting Paid Back Quickly

When invoices are paid on time, business owners do a little dance in their office chairs. Contracts are written and signed in faith that every party will contribute what they've agreed. There are cases, however, where an event or misunderstanding or a thousand other reasons prevent an invoice from being paid. Unfortunately, some businesses will fail in their quest to recover those debts. Some businesses will fail altogether. 

Here are tips to getting paid back what's owed to you quickly.

The Disappearing Act: What To Do When a Client Stops Paying

In 2012, the hashtag #GetPaidNotPlayed was trending on Twitter. The tweets were shared horror stories by contractors and small business owners who were stiffed on their invoices. In total, the amounts not paid by those adding to the hashtag totaled up to nearly $16million. The saddest part of the story is that many of these invoices would remain unpaid because businesses want to continue doing business, not deal with the frustration of chasing down a non-paying client.

What options do business owners have when a client stops paying or disappears?

How do Commercial Collection Agencies Charge?

Dealing with the frustration of a non-paying client takes time and resources away from other necessary daily tasks. With so much at stake, not only concerns of how the non-payment will affect the business but also the client relationships, business owners may also be hesitant to turn over their unpaid accounts to a collections agency. Too many unanswered questions could stall the collections process while the unpaid invoice remains unpaid. Can a commercial collections agency help? Will they respect the client relationship? How much will it cost?

How do commercial collections agencies charge for recovery of unpaid invoices?

Firing a Client for Non-Payment & Red Flags to Prevent It

A business relationship can be just like any relationship. There's courtship, similar interests, a proposal, and the big day. On the day two businesses sign an agreement, excitement abounds at the potential of the relationship to add value.  Unmet expectations and unresolved differences can quickly sour this relationship potential, leaving one or both parties unwilling to uphold their end of the deal. An unpaid invoice breaks down the relationship even further, leading you to question: Is it time to fire this client? Could you have predicted the end?

What are the red flags that signal payment challenges and how do you get paid after
firing a client?

What do you say when a client won't pay?

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Chasing down an unpaid invoice seems like a productive way to spend your time .... said no business owner, ever!

When clients don't pay, not only does the late payment affect paying your own bills, it also steals time and resources. It can be especially frustrating to realize payment is late days or weeks after it is due. Suddenly, the situation becomes an emergency. Where do you start? How long will it take?

What do you say when a client won't pay?

Adopting B2B Payment Technology

Payment technology helps create a seamless and innovative experience for corporate payments and supply chains. In the digital marketplace, vendors and suppliers can contract and expedite payments in a timely manner. Businesses who work with global partners can also feel more confident with transparent payment solutions.

Although B2B payment technology is fast and secure, organizations are slow to adopt the infrastructure and processes needed to implement it.

 

5 Reasons for a B2B Accounts Receivable & Collections Policy

Effective B2B accounts receivable management may be only as effective as your policies and procedures. Accounts receivable and collections policies contribute to and protect your cash flow by organizing procedures to follow when extending payment terms and credit to clients.  The faster you can collect on invoices, the more reliably your business can plan for inventory and pay vendors.

Here are reasons to establish B2B accounts receivable and collection policies for your growing business.

Tips for Hiring a Corporate Debt Collections Agency in 2017

If you're reading this, it's more than likely because you've done everything you can to get a client to pay, including asking nicely, and they're simply... not paying.  You may be wondering if you have any recourse at all and you really, REALLY, need to get back to running your business. Hiring a professional debt collections agency seems complex and a little uncertain. Maybe your only interaction with debt collection was as a consumer and that wasn't a positive experience.

No need to fret. Here are tips to consider when hiring a debt collections agency for your business.

Accounts Receivable Clean Up: Collect More Money

In corporate accounting, it's not uncommon for an excess of past-due invoices to get put on the back burner due to employee turnover, new accounting software or other challenges in daily operations. Cleaning up or auditing your accounts receivable is a smart idea to ensure those few invoices don't turn into lots of invoices that need to be written off or sent to collections. 

With a regular accounts receivable clean up, those "low priority" invoices can add up to a good amount to your business' cash flow.