Accounts Receivable Management: 13 Tips to Get You Paid

1. Be Organized – Use professional forms to vet customers and outline agreement terms. Use invoicing software to manage accounts.

2. Use the Credit Limit – Extend more moderate terms with customers and let them know they can work their way up to more flexible terms.

3. Communicate – Customer relationship management is vital. If you have a strong and healthy relationship with a client, they are not going to want to jeopardize that.

4. Start Early – A week before payment is due, send a friendly reminder reiterating the due date and payment options.

5. Don’t Wait – The longer you wait to collect, the harder it is. Go straight after late payments as soon as the due date has passed.

6. Send Reminders – Some customers don’t pay simply because they forgot. Send a reminder as soon as the payment is past due.

7. Stay Professional – The worst thing you can do when it comes to a late payment is let emotions cloud your decisions and affect your actions.

8. Collection Call – After you have sent the letter and still have not received payment, it’s time to call the customer.

9. Prepare for Excuses – Get acquainted with the most common excuses for late payment and learn how to respond to them.

10. Installment Plans – Having a customer pay you back in smaller amounts over time is better than no payment at all.

11. Finance Charges and Rewards – Whether it’s consequences for paying late or rewards for paying early, give customers incentive to pay.

12. Outside Resources – Know when to seek help. Consider alerting credit bureaus and using a debt collection lawyer.

13. The Experts – Do your research and find a company that will get you paid and treat both you and your customers well.

To learn more about Funding Gates, an online receivables manager, visit

Meredith Wood is the community director for Funding Gates. To read the full article, visit