Category Archives: Accounting

BusinessWeek: Five Rules for Collecting Late Payments

Bloomberg BusinessWeek

By Monica Mehta

The warning signs of a customer’s cash-flow woes are easy to detect. Reduced orders, slowing payments, a change in phone number or business name, and a reluctance to get on the phone are all signs that trouble is brewing. Requests for duplicate invoice documentation or claims that “the check is in the mail” are also obvious stalling techniques. How should you respond to delinquent customers to improve your odds of getting paid? As business bankruptcies near a 16-year high, an informed response and a thorough credit policy are fundamentally necessary.

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BusinessWeek: Protect Your Business from Defaults

BusinessWeek SmallBiz

By Monica Mehta

Bankruptcy is one of the worst things that can happen to a business. And we’re not even talking about your own bankruptcy (thank goodness). Even if you’ve managed to steer clear of danger so far in this recession, an unprecedented rise in corporate insolvencies can derail otherwise sound businesses. A customer who files for bankruptcy is like Kryptonite to the small business superhero.  (Read More)