Debt recovery procedure These steps can be used as an escalation process to contact your customers about an outstanding payment from friendly reminder through to letter of demand and bad debt collection. 1. Contact with a friendly payment reminder Once the payment is overdue, phone, email or mail the customer with a courtesy reminder. The [...]

A cash flow forecast is the most important business tool for every business. The forecast will tell you if your business will have enough cash to run the business or pay to expand it. It will also show you when more cash is going out of the business, than in. The easiest way to prepare [...]