{"id":3605,"date":"2020-09-07T12:00:00","date_gmt":"2020-09-07T17:00:00","guid":{"rendered":"https:\/\/accord.galambos-dev.com\/?p=3605"},"modified":"2020-11-15T19:00:27","modified_gmt":"2020-11-16T00:00:27","slug":"improving-your-collections-of-accounts-receivable","status":"publish","type":"post","link":"https:\/\/accordfinancial.com\/staging\/improving-your-collections-of-accounts-receivable\/","title":{"rendered":"Improving Your Collections of Accounts Receivable"},"content":{"rendered":"\n
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Accounts receivable, sales made on credit to customers, account for a significant part of a business\u2019 assets in its financial statement, as most businesses afford their customers the flexibility to pay for goods and services between 30 days to 90 days. The accounts receivable asset is beneficial to the business only when it is realizable and converted to cash.<\/p>\n\n\n\n

Cash is realized when accounts receivable balances are collected from respective customers. Effective working capital management is achieved when cash is collected in a timely manner and is readily available to meet the cashflow demands of the business. This is why improving collections of accounts receivable is important for every business, and essential for those needing additional liquidity to grow and succeed.<\/p>\n\n\n\n

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Ways to improve collections of accounts receivable<\/h2>\n\n\n\n
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There are various ways to ensure cash from credit sales made to customers are collected, some of which include:<\/p>\n\n\n\n