{"id":1931,"date":"2013-09-26T09:30:45","date_gmt":"2013-09-26T14:30:45","guid":{"rendered":"http:\/\/www.littworldonline.org\/?p=1931"},"modified":"2016-11-18T22:35:34","modified_gmt":"2016-11-18T22:35:34","slug":"how-to-collect-from-unpaid-customers","status":"publish","type":"post","link":"https:\/\/maiglobal.org\/ar\/how-to-collect-from-unpaid-customers\/","title":{"rendered":"How to Collect on Unpaid Accounts"},"content":{"rendered":"
<\/div>\n

By Ramon Rocha<\/b><\/p>\n

The bottom line for accounts receivable is: “Books sold on credit are fictitious until the amount due is collected!” I used to preach this at the publishing house I led.<\/p>\n

While traveling this past year for MAI, I heard several Christian publishers cry out that they are facing the problem of rising uncollected accounts receivable. What are the steps publishers can take to manage this important balance sheet item?<\/p>\n

MAI President John Maust remembers a publisher in Asia having to fire one of \"FreeDigitalPhotos<\/a>his\u00a0staff, after overhearing her telephone a deadbeat customer and saying in total exasperation, “If you don’t pay, you’ll be in danger of hell!” Angry statements like this one are commonly heard by debt collectors, but within the Christian community it\u2019s important to approach the situation in a Christ-like manner.<\/p>\n

1.\u00a0\u00a0 Develop a carefully drawn set of credit policies and practices:<\/strong>
\nIf you already have created policies, review your existing ones. What type of clients qualify for credit? \u00a0What is your process for screening customers that are applying for credit? How disciplined are you in enforcing your credit policies?<\/p>\n

2.\u00a0 Age your receivables:<\/strong>
\nIn a spreadsheet, name your credit customers, itemize each invoice amount and\u00a0 how long the invoice has been past due.\u00a0 Monitor this report regularly.<\/p>\n

3. Make phone calls:<\/strong>
\nAssign a staff person to \u00a0make a friendly phone call to each customer reminding them of debts that are due. Problematic customers get the pleasure of receiving more frequent phone calls. If you are silent and don\u2019t do any follow up calls, the money usually goes just to the “noisier” supplier.<\/p>\n

4. The CEO should visit important customers:<\/strong>
\nThere\u2019s nothing like formal, yet friendly visits. Visiting customers makes them feel appreciated, and they will hopefully give priority to paying off your invoices. As a general rule, good customer relations contribute to a good cash flow.<\/p>\n

5. Keep money reserves for rough times:<\/strong>
\nDuring good years, build up allowances for bad debts. Some customers with unpaid accounts simply vanish. They are Christians, but perhaps their hearts have hardened despite reading Zacchaeus\u2019 story. Pray for them.<\/p>\n

In all financial circumstances, may we look to the Lord for provision and wisdom to handle our finances well. Remember to ask:\u00a0What am I\u00a0doing to make sure my credit sales are managed properly to ensure I have enough cash to pay my bills on time? \u00a0<\/i><\/p>\n

Find more helpful pointers from Michael Hess\u2019 article at\u00a0CBS Moneywatch<\/em>\u00a0entitled\u00a0The best way to handle customers who don\u2019t pay<\/a><\/i>.<\/i><\/p>\n

Do you have any other suggestions? Tell us here.<\/strong><\/p>\n

Photo above courtesy FreeDigitalPhotos<\/a>, David Castillo Dominici<\/em><\/p>","protected":false},"excerpt":{"rendered":"

By Ramon Rocha The bottom line for accounts receivable is: “Books sold on credit are fictitious until the amount due is collected!” I used to preach this at the publishing house I led. While traveling this past year for MAI, I heard several Christian publishers cry out that they are facing the problem of rising […]<\/p>","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"give_campaign_id":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"iawp_total_views":3,"footnotes":""},"categories":[203,12],"tags":[238,235,239,100,15],"class_list":["post-1931","post","type-post","status-publish","format-standard","hentry","category-finance","category-mai","tag-accounts-receivable","tag-christian-publishing","tag-finance","tag-mai","tag-publishing"],"yoast_head":"\nHow to Collect on Unpaid Accounts - Media Associates International<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/maiglobal.org\/ar\/how-to-collect-from-unpaid-customers\/\" \/>\n<meta property=\"og:locale\" content=\"ar_AR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How to Collect on Unpaid Accounts - Media Associates International\" \/>\n<meta property=\"og:description\" content=\"By Ramon Rocha The bottom line for accounts receivable is: “Books sold on credit are fictitious until the amount due is collected!” I used to preach this at the publishing house I led. 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