Getting around the delinquent-customer problem in IT staffing companies is all about keeping a close watch from the day you have sent an invoice to the final date on which your A/R process has completed. Ninety percent of your A/R management should be reminding the customer that bills are past the overdue date and that payments should come in to continue service. Of course, you should be doing this politely in very certain terms.
Allowing your delinquent customers extraordinary time to pay encourages them to ask for more credit periods. Just remember that allowing too long credits is like making money work for others and starving your cash flow. When you are able to recover your dues on time, your profits will go up because it gives your business resources to invest in profit-making activities or sometimes reduce your borrowings and income outgo for servicing debts.
Delinquency is controllable and the smartest way to do it is by reminding your customers that we expect them to clear bills on the appointed day. Offering a discount is a good method to avoid delinquency but you should act prudently in what you offer. If you are on the wrong side, simply sending reminders frequently will have no effect at all; you need to put your house in order first; but how?
Smart Fool-proof Invoices
When payments don’t come in fast enough from your customers, it could be that you have not made a clear readable invoice in which no one can pick a mistake. If you can, then you have already eliminated a formidable customer-defense for not paying. Is a fool-proof invoice viable really? The answer is yes. We will show you how.
Switch to Automated Invoicing Processing
IT Staffing businesses are beginning to understand that accounting automation tools such as QuickBooks need special enhancements to avoid errors in invoicing and customers can delay a payment for the same reason.
Here is the first step to take: Put an end to manual invoicing and switch to automated invoicing processes. CONSULT is the preferred software for making flawless invoices. It does not require human intervention at all: it is an enhancement for QuickBooks online and automatically captures the required inputs on a real-time basis. It eliminates mistakes totally making your invoices 100% complaint with customer expectations. It is all programmable days ahead so that you don’t have to rush and make mistakes on the way when rushing.
CONSULT is easy to order. You may visit the pricing page on the website and within minutes you will be able to use it, if you are a QuickBooks online user. Staying clear off delinquent accounts is as easy as making a few keystrokes on your computer.