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Managing your accounts receivables, by your small business accountant Melbourne

Your accounts receivables is what allows for your business to make money, as it is based off of the amount of money that either customers or suppliers owe your business. That is why our small business accountant in Melbourne will tell you how to manage your accounts receivables properly.

Here is how your business accountant in Melbourne recommends you manage the accounts receivables:

• Get to know your customer and their behaviours, this way you get a better understanding on their ethics and when they will most likely pay off their remaining debt, or if they are normally bad with debt then you try to avoid those customers
• Always set payment terms for all of your customers
• If you are having some issues with customers paying you back, don’t be afraid to outsource the debt owing to you, to a debt collector
• If you have a customer who does not have the ability to pay you back in full, then you’ll want to ensure that a settlement or payment plan is set up

Your accounts receivables will run the rest of your business as it provides you with the funds need to do everything else. If you are having any trouble, our accountants for small business in Southbank will help you out.

So feel free to get in contact with our small business accountants in Melbourne, Monday-Friday during trading hours.