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Assign Collections to an Existing Employee : When doing this you need to consider if the person being assigned collection duties has the time and demeanor to be an effective collector. Again, you need to also keep in mind the impact from putting other tasks on a back burner. it just might help them pay you sooner!
What’s Involved in “Cleaning” an AR Portfolio In a perfect world, your AR Ledger would contain only whole, current invoices; or at least nothing seriously pastdue. Share How to Clean Up Your AR Ledger Launch a collection program to collect all pastdueinvoices at least 15 days late.
Collectors must deal with all sorts of excuses for what is owed not being paid. The best collectors are experts at parrying, or deflecting these excuses and forging ahead with their requests for payment. You want to collect any small partial balances and recently pastdueinvoices as well as the oldeest and largest pastdue balances.
A ssign Collections to an Existing Employee : In this case you need to consider if the person you choose has the time and talent to be an effective collector. What are the other tasks that will not get done or be delayed because of the time you devote to collections?
This often leaves customers without noticeably high balances or long past-dueinvoices receiving limited collections touches, forcing collectors to be more reactive than proactive.
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