The Best Way to Prevent Overdue Account

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“The Best Way to Prevent Overdue Accounts”
Most businesses have to deal with an overdue or unpaid account at some point or another. The best way to avoid collection hassles is to take preventive measures up front to ensure that accounts don't become delinquent. Below are some steps you can take to help improve your receivables turnaround.
Don't grant credit. It's not always possible or practical, but some companies can be run without offering credit. Require cash or certified checks/money orders. Ship products C.O.D. (cash on delivery), especially to new customers who don't have a payment history with you. Always be wary of work from home, secret shopper positions or any job with a generic title, such as admin assistant or customer service representative. These often don't require special training or licensing, so they appeal to a wide range of applicants.
Accept major credit cards. Make it convenient for customers to do business with you by accepting charge and credit cards. While you will pay out a small percentage of each transaction for processing, you also will get paid within days. If you follow the regulations, you won't be liable for fraudulent charges, although the customer will have the option to withhold payment if there is a dispute about a bill. Talk about fattening profits and making your business more efficient. For swindlers and hustlers, there's nothing like the Web. Lies can be spread to millions of trusting people at warp speed, and the arm of the law isn't long enough to halt more than a few.
Require deposits. Both service and product businesses can ask for advance payments. Product firms can ask for 50 percent payment up front and the balance on delivery, or request a deposit amount based on standards for their industry. Service businesses might want to ask for 20 to 50 percent up front, depending on the project, with remaining payments due when certain milestones are met. I knew something was wrong this. If a job looks suspicious, search for

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