YOU HAVE DONE THE WORK BUT HAVE NOT BEEN PAID!
Are you a partner? Have you always handled receivables yourself? Is that really appropriate in today’s fast-paced business environment? Do you really want to do that? Let’s face it – if your photocopier breaks down, you don’t whip out a screwdriver and work on it, you call in a technician! If you run out of business cards, you don’t print more – you contact the printer! So why are you doing support staff tasks? Does your support staff "poke" at this task? Were they trained for it? And do they enjoy it?
Are you really “getting to” those slow-paying accounts? Isn’t it best to work on the thing you truly love – accounting? Perhaps it is time to ask yourself why you have to wait so long to be paid. After all, your own suppliers, landlord, and staff, all expect to be paid on time. Your firm should also be paid in a timely manner. You are an accountant, not a bank! It is time to stop “financing” your client’s operations by waiting so long for payment, and get paid in a reasonable time frame – just like they do!
There are ways to ensure this happens for your firm, and all that is involved is a different outlook, recognition that it is time to consider a few changes, and determination to bring that about.
No client is going to get mad or leave because you want to be paid, it is the normal practice in the business world. More and more accountants are coming to recognize this.
Get paid faster. Increase the velocity of your own money. Reduce write-offs.
Isn’t it time to make this happen? Let’s talk.