Accounts Receivable Can Cost You Your Business! Learn Why.

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Ever notice that business owners know their sales numbers better than their kids rsquo birthdays But have all of those sales been collected And will they all be collected Failure to collect those sales can make or break your business And the policies you set can determine whether you can collect them The policies should not only reflect what is customary for your industry but also contemplate what your business can afford This is the place where creativity can also make or break your business If you cannot afford the time between billing and collections then your terms need to be shortened and maybe provide your client with other concessions Another question to ask is whether your business or your industry are prone to uncollectible accounts If you make a sale but its eventually written off as uncollectible or you have to refund it then the sale never became available to cover your expenses Click here to visit this podcast episode