Tips for Speeding Up Receivables Collection
Businesses frequently look for ways to speed up the collection process, and their accountants can help them work through the process of tightening the receivables cycle. In today's article about important financial metrics, we discuss several easy-to-implement tips for getting money in the door, and into the bank account, quickly.
Some of the old standards of charging interest on past due invoices and accepting credit cards in payment are listed here, along with some other tips that can help move the receivables along at a faster pace. What are your favorite methods for efficient A/R? Join the discussion!
Prior to this role, Caleb served as the editor of Going Concern since its founding in 2009. During his time as editor, Going Concern quickly became one of the most popular and talked about websites in the accounting profession. He has been named one of Accounting Today's Top 100 Most Influential People every year since 2011 and has been published on numerous websites, including Above the Law, Deadspin, Denver Business Journal, and the Huffington Post.
Caleb is an adjunct professor of journalism the Community College of Denver in Denver, Colorado, where he teaches Internet Media.
Prior to falling bass ackwards into the media business, Caleb spent over five years working in public accounting, with more than three of those years at KPMG. Caleb received a Master of Science in Accounting from Colorado State University and a Bachelor of Science in Business Administration from the University of Nebraska at Kearney.
Caleb spends a lot of time on a bicycle and reading, but never at the same time.