2016-11-21 00:00:00InvoicingEnglishKeep these 10 key points in mind when attempting to collect past due bills owed to your small business.https://quickbooks.intuit.com/ca/resources/ca_qrc/uploads/2017/03/Employee-and-client-in-office-near-computer-discussing-past-due-payments.jpghttps://quickbooks.intuit.com/ca/resources/invoicing/how-to-collect-on-past-due-accounts-and-not-alienate-the-customer/How to Collect on Past Due Accounts and Not Alienate the Customer

How to Collect on Past Due Accounts and Not Alienate the Customer

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Past due customer bills cut both ways in business, creating a slow revenue stream and a potentially delicate situation when trying to collect what is owed. Consider the following advice when attempting to collect on a late account.

  1. Be polite if contacting the customer by phone.
  2. Use email to adopt a softer, less-direct approach.
  3. Getting angry might mean losing a customer.
  4. Discuss partial payment options.
  5. See if there is a valid reason for the delay.
  6. Express empathy for the situation.
  7. Be firm but not overly aggressive.
  8. Explain how late payments affect your business.
  9. Propose more than one way to resolve the issue.
  10. Extend time and terms if necessary.

References & Resources

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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