How Can I Improve My Collections in Accounts Receivable?

You won't be in business long if you can't get your customers to pay their bills. If a customer is late with a payment:

• Call the customer immediately. Even a small delay reduces the chance you'll get the money.
• Be persistent.

It's also smart to send a letter clearly stating the consequences of further delays: a hit to their credit rating, interest charges, or referral of the account to a collection agency.