Do This, Not That: Review Aging Weekly. Don’t Wait for Late Notices
Do This:
Review your Accounts Receivable aging report every week and follow up before invoices become overdue. Break aging into smaller, more granular periods, such as 7 days through 90 days across 13 periods, so you can see issues sooner. Sort the report in descending order to focus first on your largest outstanding balances. Use this insight to identify slow-paying customers, adjust terms, and send reminders before cash flow takes a hit.
Not That:
Don’t wait until invoices are 60+ days overdue to act. Ignoring aging reports or only reviewing high-level totals leads to cash shortages, unnecessary write-offs, and strained customer relationships.
Stay proactive and focused on what matters most. Need help improving collections or configuring your AR reports? One 8 Solutions is here for that. Let’s connect!
