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Like it or not, as businesses, we all take on customers that are not going to pay-or they pay very late. Because of this, we are forced to make other arrangements to cover our expenses from time to time, leaving us in situations of negative cash flow. For a small business, it’s all the more troubling when this happens.

Collection agencies are often asked, how can I spot a customer that is going to pay late-or not pay me at all? There are several signs that a business can spot early on and after the time of service.

Early on, if you’re a business that checks […]

In preparation for my holiday vacation, I borrowed some books from Matt.  So, on Sunday, after my 16th annual Buffalo Bills-being-all-but-mathematically-eliminated-from-the-NFL playoffs viewing, I started and finished the first one.  It was “Fish! A Remarkable Way to Boost Morale and Improve Results,” and it tells the story of how a routine, seemingly dead-end-job of a department at a bank completely changed the culture of their workplace by emulating (of all things) a fish market.

The book details how the manager of this bank’s department, desperate to change her team’s culture and reputation, studied how Seattle’s world famous Pike Place Fish Market chose to become not only a great place to work, but a great experience for […]

I’ll put this right up front; we are not a CPA firm and we are certainly not lawyers. We are a collection agency. But our customer service reps get a very frequent question at this time of the year. Can I still collect on accounts I’m writing off?

The short answer is yes. There is no harm in continuing collection efforts on accounts you have already written off. If you do end up getting paid on those accounts, then you’ll need to check in with your CPA or tax attorney on how you handle that on your books.

The reverse is also true; if a collection agency is already working accounts and then you decide to write […]

The last thing any business wants to do is go into unnecessary debt at any time of the year. But with the end of the year fast approaching and the holidays upon us, it can be very easy to spend more than you take in and get yourself in a bad situation. Collection agencies see this with both consumers and businesses at this time of the year.

There is a fine line when it comes to ending your year the right way and hitting January 1 with more debt than you ever thought you had. With holiday parties for your company and bonuses or employee gifts costing money, […]

Keeping a sharp eye on your finances does not mean you are a cheap skate. There is something to be said about living within your means, especially if you are a small business just starting out and looking to maximize your money. Here are a few quick tips to save you a few bucks on your small businesses expenses.

Consider travel expenses: If you are a small business dependent on making deliveries or one that must consider other travel expenses consider a few factors. Look for more effective routes that may be less mileage or combine trips to cut down on miles traveled. Also, if possible, try not to […]