When the holidays are over and we return to work, one of the first things we need to get on top of is the status of our accounts receivable. Whether you’ve been really busy or closed over the holidays, this will inevitably be on your ‘to do’ list. For many businesses, getting through the holidays …
We’re well into the new financial year now, and many businesses would have reviewed their debt recovery processes and procedures, to ensure they maintain a healthy cash flow and minimise potential bad debts this year. When we are winning new business, it’s great for our P&Ls, however if we don’t follow up on our invoices …
Some debtors are stubborn, to put it kindly, and simply refuse to pay their accounts. So what should you do if you have unpaid debts and all your efforts are falling on deaf ears? Unless they are disputing the debt, we recommend lodging a default on the debtor’s credit rating. Why? You want to ensure …
‘Our Favourites’ We all love our customers who pay to terms, we don’t need to remind them, payment comes through before or on the due date and we all want more of these customers, these are our favourites. ‘The Busy Guys’ We’ve all learnt to manage the customers who ‘thought they’d paid’, ‘meant to pay’ or …
We are often asked, as a mercantile agency, how we approach collecting debt from individuals. The Australian Competition and Consumer Commission (ACCC) and the Australian Securities and Investments Commission (ASIC) have produced a guideline. This guideline helps us to understand how the Commonwealth consumer protection laws apply to debt collectors, as well as in house …