Remove business-and-contracts business-operations billing-and-invoicing
article thumbnail

9 mistakes your business may be making when collecting debt

American Profit Recovery

Collecting debt is just something a business of any size will have to do. It would be nice if all consumers paid their bills on time but the reality of running any business means you’ll have to deal with late and nonpaying customers. Keep in mind there can be state and local regulations you may need to be aware of.

article thumbnail

Haulage firms named in Business Late payers list

UK debt collections

Well known transport, distribution and haulage firms have cropped up in a list naming and shaming both late and serially-late payers of invoices. In the six months to December 2023, GBP said the logistics firm took an average of 83 days to pay invoices , with 65% taking 61 days or longer.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

4 more myths about debt collections DEBUNKED

American Profit Recovery

There are untold amounts of myths regarding collection agencies and how they operate. And many businesses believe this to be the case. When we talk to businesses, sometimes they believe that until their customer goes at least one year out on their obligations, they can’t do anything. We got you covered here!

article thumbnail

Profit and Loss Statements for Business Planning and Growth

PDC Flow

Businesses want to make money. One of the most common–the profit and loss statement–lets companies: Monitor how the organization is performing and better understand profitability Assess expenses and profit trends Plan for future growth and reinvest in the business based on P&L data What is a Profit and Loss Statement?

Retail 85
article thumbnail

Is your consulting firm losing cash flow? 4 tips to get back on track

American Profit Recovery

This might not be like other industries we serve such as lawn care professionals where the lawn is serviced, and a bill is sent. For other clients, you may email them an invoice and it gets lost immediately. If you intend on billing monthly, ask for the first month’s payment in full, upfront.

article thumbnail

Start Accepting Online Payments for your Medical Practice

Nexa Collect

For those health care practitioners who want to reap the benefits of automating their account receivable (AR) processes, we offer here a few tips on how to make this transition from paper invoices and bills to streamlined digital AR functions and operations. For a medical practice, HIPAA remains the overarching law.

Banks 130
article thumbnail

3 effective ways to deal with your late paying customers

American Profit Recovery

While there may be many unknowns when running a small or large business, one thing we know for sure is that late-paying customers and clients are part of operating any size business. We’ve talked numerous times here about the importance of invoicing on time for any size business.