Accounts Receivable | Collections | Deduction Management

You have already made the election to extend credit, but now are faced with an aging report that contains past-due accounts. It is very important to address these situations quickly and professionally. Each day that elapses where monies remain past due, can have a profound and negative affect on the profit that was anticipated when the sale was originally made. Therefore, communication must be made with the account that will, in addition to other things, yield the following results:

1. First and foremost, the receipt of necessary payment.

2. What factor(s) caused the past due condition.

3. Is/Are the factor(s) temporary, or will there be an on-going problem.

4. Determining if credit should continue to be extended or should it be suspended.

All too often, a business owner continues to extend credit even though they do not get paid in a timely manner. They rationalize this behavior with the justification that they are at least making a sale; but at what cost? In actuality, the longer a receivable remains outstanding beyond normal and established payment terms, the more negatively it will affect profit and the less chance there will be to collect it.

What about a case where you have a “good customer” that remits payment to you on a regular basis but has a habit of deducting something from every bill you submit. Unless you have made a genuine mistake, this situation, just like a past-due account, should be addressed with the customer immediately because just like a past-due bill, paying less than the full amount will have a negative affect on profit.

CreditPro Financial Services, LLC, can be your source to make contact and liaison with your customer to accomplish the aforementioned results. Contact with your customer can be made via telephone, or if necessary in person. You can be certain that each and every assignment received will be handled with the utmost care, attention to detail and with individualized service. In every case, because we realize you have worked hard to obtain your customer base, maintaining a positive relationship between you and your customer will be our ultimate goal.