Sunday, January 6, 2013

Best credit card for small business ?

Best practices for recovery
Large or small, all businesses must understand the importance of good control of their accounts receivable. When you manage adequately accounts receivable - the expected revenue from your sales of goods and services - you can improve your cash flow and support your other marketing efforts, such as recruitment and marketing.

There is another good reason to control your accounts receivable: According to statistics, more than you have to wait before receiving payment, the more likely that the payment is incomplete.
Even if your policy is covering the image needs of your business, your industry and the characteristics of your customers, some best practices are universal and best credit card for small business.

Give credit wisely. before offering credit to a new customer, check the credit history. Also make sure you get good references about it in terms of its commercial activities.
Make sure you know your customers. more you know about your customers, their businesses and industries, the more you will be able to understand their habits, particularly regarding their payments.

Send your bills promptly. Invoice your products or services to your customers immediately after they have delivered your products or your services provided.

Encourage prompt payment. Offer a small discount to customers who pay their bills promptly and impose a penalty late.

Accept debit cards or credit cards. Encourage your customers to pay you using their credit cards or debit cards in situations that are appropriate.

Specify the terms of payment. sure the payment terms that apply to the goods you sell or services you offer are clearly on all invoices. Keep your records up to date and track payments not received in a timely manner.

Give the customer service exceptional. A satisfied customer is more likely to pay their bills promptly. Be sure to meet the needs of your customers.

Call the collection agency wisely. decision to use a collection agency demanding payment of an invoice can be costly and result in the loss of a client. Not consider doing so as a last resort, if a frank discussion with the client latecomer did not resolve the problem.