Collector Document Past Due Invoices 
Your Virtual Credit Manager
JULY 2, 2024
Being a collector requires patience, persistence, and effective communication skills. When communications break down, past due balances accumulate. That’s why collectors need to be effective communicators. Without effective communication skills, your patience and persistence won’t generate results.
Your Virtual Credit Manager
MARCH 14, 2023
If a company executive is not the primary collector, there is nothing wrong with them giving it a try. A large percentage of past due invoices are caused by up-stream problems in the order-to-cash process. A large percentage of past due invoices are caused by up-stream problems in the order-to-cash process.
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Your Virtual Credit Manager
JULY 16, 2024
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 past due invoices as well as the oldeest and largest past due balances.
Your Virtual Credit Manager
JANUARY 16, 2024
Here then are eleven mistakes that business debt collectors should avoid: 1. Poor Record Keeping You also need maintain accurate records and documentation of the debt, payments and adjustments. Accurate invoices and follow-up statements of account are essential to the seller and buyer to be aligned with their record keeping.
Your Virtual Credit Manager
JUNE 4, 2024
Successful collections require the coordination of a variety of activities: timely and accurate invoices and payment posting, monthly statements, email reminders and other dunning notices as well as telephone calls. Of all these items, making the necessary phone calls generates the greatest value in respect to recovering past due invoices.
Your Virtual Credit Manager
MARCH 5, 2024
If you send an email or text you can attach a copy of their account statement and/or invoice ccopies. On a phone call, you should summarize all amounts past due, such as “you owe $10,000 that is over 30 days past due” or reference one or two large past due invoices (number, amount and due date), but no more.
Your Virtual Credit Manager
DECEMBER 13, 2022
People do not aspire to become commercial debt collectors. Many of us went to college and got degrees in business administration or accounting or even liberal arts and science, but due to the vagaries of providence ended up getting jobs handling credit and collectors. Nobody grows up wanting to be a bill collector.
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