How to make accounts receivable pay off

Description

Abstract: Failure to collect accounts receivable in a timely manner can lead to myriad financial problems for a company, including poor cash flow and the inability to pay its own bills. This article discusses measures for making the collection process more effective, including creating an AR aging report, assigning collection responsibility to a sole accounting employee, and offering customers multiple ways to pay. A sidebar highlights the flip side of upgrading the collection of receivables: improving the management of accounts payable.