Organizations depend on their clients following through with promised payments. When recurring revenue is compromised, other areas of the business may suffer. Failed or rejected payments may be regarded in the same line as bad checks. While the declined payments may not be intentional, your business may need help recovering these payments. 

Becoming a freelancer means leaving a traditional job in the hopes of feeling more respected, empowered, and excited to start each day.  It also means taking on the task of running a business, from sales and marketing to accounting and paying taxes. Finances may be different every month, with a large payouts one month and then smaller or non-existent payments at other times. Budgeting is very important as well as getting paid on time. Unfortunately, most freelancers experience late paying clients or those who don't pay at all.

Here are the reasons freelancers don't get paid and what can be done about it.

When selling anything that requires ongoing payments, there could be a challenges in collecting those payments. Businesses selling software-as-a-service (SaaS) receive a monthly or annual fee from clients who have purchased a subscription.  The client may claim that they no longer use the service or a variety of reasons for nonpayment. Anytime a client is contractually obligated to pay for a product or service, whether they use it or not, the account can be sent to collections.

If your business is selling software or any other subscription model, you do have recourse for non payer churn.

When online retailer Amazon recently purchased the grocer Whole Foods, CEO John Mackey compared their relationship to dating and falling in love. Destiny reigns when one business has what the other business needs and the sales process feels "meant to be".  Inside of a business relationship, however, there are situations and discussions that could be challenging but must be addressed. 

Instead of avoiding tough conversations with your business customers, follow these rules.

How often do you call a business and find yourself stuck after "press 1" for this and "press 8" for that? Technology can be a wonderful resource but are businesses ready to rely on fully digital systems? A recent USA Today article highlighted new technology and stated that some debt collections could be handled without human interaction. When your business relationships are at stake, we beg to differ.

At Enterprise Recovery, we believe relationships are too important to take humans out of debt collections.

Deciding to hang out a shingle is a nerve-wracking leap into the unknown. You obviously need enough salary to sustain your lifestyle but you also face the delicate challenge of not scaring away potential clients. Trying to decide what to charge for your services and how to invoice new clients doesn't have to take too much brain power. 

Here are a few tips to set rates for your freelance business and invoice your clients.

Sometimes your business accounting department has to make the choice between chasing down a client to pay an invoice or simply writing the whole thing off. Making the choice to write off receivables can be tricky. Not only can you not predict the future behavior of your client, you also must be aware of accounting methods, best practices and reasons for writing off receivables.  

When it comes to deciding to write off B2B receivables, here are some things to consider.

Agency life is never boring. Built on the back of creativity, digital marketers and advertising gurus spend hours pouring over strategies, pitches, and messaging for clients. When a campaign takes off and clients see return on their investment, everybody celebrates the win. Creative agencies still require someone to operate the back office, maybe not-so-fun, part of the business. 

Here are B2B accounting tips for Digital Marketing and Ad Agencies to stay successful beyond campaign wins.

Statistics show that it costs five times more to attract a new customer than to keep one. Growing businesses, however, typically devote more time, money and effort to customer acquisition than retention. Even with cost of marketing, digital and traditional, and sales, new clients are still not buying as quickly or as easily as current clients. 

With that in mind, let's discover some tips for keeping current clients happy and loyal.

Freelancers find they are often overlooked when it comes to getting paid on time. Unfortunately, there is little to no legal recourse to prevent this from happening.  One city made some changes to help ensure their freelancers, about one third of the overall workforce, would get paid or at least have something they can do about it. As New York City is the first to pass a "Freelance isn't free" law, more communities are taking note.

Here's how to help take "Freelance isn't free" nationwide.