First, we need to PREVENT debt collection problems. Second, we need to RESOLVE debt collection problems.
Prevent debt collection problems by following the next three steps.
- Make sure the customer understands the terms and charges before you begin the work. Create quotations, estimates, and contracts. This can be done easily using QuickBooks software or other programs which may or may not integrate with QuickBooks. Be sure to have your attorney examine your document templates. You want to be certain your documents are both legal and that your business is protected.
- Create invoices that are easy to read and understand. QuickBooks software allows you to customize invoices. AMS Office Solutions can help you create invoices which look great and have all the necessary information your customers need in order to pay them.
- Follow-up on past due invoices. Sometimes people just simply forget to pay. Other times non-payment is intentional. Either way, it is important to follow-up and keep track of your receivables. QuickBooks has several easy-to-read reports for tracking purposes. You can also use QuickBooks to send statements and individualized letters to past-due clients. AMS Office Solutions can help teach you how to do this.
Resolve debt collection problems by following the next two steps: