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!