Accounting and Budgeting

RE: Get Whats Coming to You

fl_bizowner — Wed, 24 Sep 2008 14:46:52 GMT

Pretty basic but nice overview.

RE: Get Whats Coming to You

designer — Wed, 04 Jun 2008 13:19:41 GMT

I think everything goes back to "knowing" your customer. If a supportive, repeat client owes you money - - -you can be a little more patient and tolerable vs. a first-time client who doesn't have a good track record. As long as you "know" the person that owes you money and you may "know" where they work and live...you really don't have anything to worry about. They will respect you more for giving them a grace period and some breathing room, instead of badgering them and on their back. I guess it would also depend on your business as well....a piece of jewelry is a lot different than a $800 fee or service.

RE: Get Whats Coming to You

KZPdesign — Tue, 03 Jun 2008 21:33:57 GMT

Dealing with customers that owe you money is never fun, especially if you have to consider options like a collection agency. Before you resort to that, try this -- be a pest. If someone owes you money, and seemingly refuses to pay, CALL THEM. Email them, send them a letter. Show up in person. Then call them again. A constant reminder will generally be all they need before you resort to court, threats, or collection agencies. Sometimes people just need that extra motivation, and leaving 1 message on their voicemail won't cut it. This tactic also is much less offensive then something more severe, which is beneficial for all involved. Good Luck Entrepreneurs

Anthony Haase
KZP Design Services
kzpdesign.com

RE: Get Whats Coming to You

MrCPA1 — Wed, 07 May 2008 22:07:47 GMT

Good advice!!

I would like to add another thought.
To keep your business cash "flowing" many businesses are tapping into their credit card receivables. It's easy to get a CASH ADVANCE if you accept credit cards. It works like the age old FACTORING of RECEIVABLEs. It's easier than a bank loan.

Joe
718-692-CASH
www.businessloansfast.net

RE: Get Whats Coming to You

ModDesign — Fri, 25 Apr 2008 14:55:20 GMT

Unfortunately too often, clients are late on their payments. The tips in this article are simple and easy to implement. I have added the late fee policy to my invoices, but having a "reward" for early payments is something that I had not thought of. It is a great way to say "Thank You" to those client's that pay not only on time, but early, and a nice incentive for other client's to jump on board the "Paying Early Train".