Posts

Showing posts from August, 2023

๐“๐ก๐ž ๐’๐ช๐ฎ๐ž๐š๐ค๐ฒ ๐–๐ก๐ž๐ž๐ฅ๐ฌ ๐†๐ž๐ญ๐ฌ ๐ญ๐ก๐ž ๐Ž๐ข๐ฅ...

Image
๐‘ถ๐’๐’† ๐’๐’‡ ๐’•๐’‰๐’† ๐’ƒ๐’Š๐’ˆ๐’ˆ๐’†๐’”๐’• ๐’๐’ƒ๐’”๐’•๐’‚๐’„๐’๐’†๐’” ๐’•๐’ ๐’†๐’‡๐’‡๐’†๐’„๐’•๐’Š๐’—๐’† ๐’๐’†๐’‚๐’…๐’†๐’“๐’”๐’‰๐’Š๐’‘ ๐’Š๐’” ๐’๐’†๐’‚๐’“๐’๐’Š๐’๐’ˆ ๐’‰๐’๐’˜ ๐’•๐’ ๐’ƒ๐’† ๐’•๐’‰๐’† ๐’”๐’’๐’–๐’†๐’‚๐’Œ๐’š ๐’˜๐’‰๐’†๐’†๐’. We have all heard the adage but how does it apply to business and why is it important? ๐˜›๐˜ฉ๐˜ฆ ๐˜ฎ๐˜ฐ๐˜ด๐˜ต ๐˜ฏ๐˜ฐ๐˜ต๐˜ช๐˜ค๐˜ฆ๐˜ข๐˜ฃ๐˜ญ๐˜ฆ ๐˜ฑ๐˜ณ๐˜ฐ๐˜ฃ๐˜ญ๐˜ฆ๐˜ฎ๐˜ด ๐˜ข๐˜ณ๐˜ฆ ๐˜ต๐˜ฉ๐˜ฆ ๐˜ฐ๐˜ฏ๐˜ฆ๐˜ด ๐˜ต๐˜ฉ๐˜ข๐˜ต ๐˜จ๐˜ฆ๐˜ต ๐˜ต๐˜ฉ๐˜ข๐˜ต โ€œ๐˜จ๐˜ณ๐˜ฆ๐˜ข๐˜ด๐˜ฆโ€. In business, accounts receivable is incredibly important to every business and maintenance of operations. We canโ€™t buy materials, order supplies, pay subcontractors, process payroll costs etc. without accounts receivable getting collected. Some of the important things in becoming the squeaky wheel or developing a methodology of becoming the one that gets the grease is:  1.     Create a routine โ€“ 1x a week print out the A/R report and review it 2.     Donโ€™t wait 30 days to start collecting โ€“ send stmts around 25 days outstanding 3.    ...