Getting Paid

Unfortunately, sending an invoice doesn't always result in getting paid. If you're having trouble with slow-paying or nonpaying customers, you need to develop a consistent accounts-receivable program. In this Inc.com guide, discover tips for billing and accounts receivable, collection strategies from successful entrepreneurs, including Inc 500 CEOs, and solutions for soloists.

Manage Your Receivables

Collection: Days Saved, Thousands Earned: A receivables expert tells how much your company stands to gain when your customers pay up fast.

Collections Slowdown: What's the average age of your accounts receivable -- and is it changing

Walk the Walk, Talk the Talk: Collecting from clients is a matter of negotiating terms in advance, separating collection and business functions, and keeping internal accounting systems in order.

Tend to the Business of Collecting Your Money: Monitoring of slow-paying accounts and timely billing practices are just two ways you can help unclog your payables.

The Cash-flow Crunch: Big firms are dragging their feet on payables, taking as long as 60 days to settle up, and creating new problems for entrepreneurs.

Taking The Fear Out of Factoring: With more and more reputable companies entering the factoring business, services have greatly improved. But factors' bottom line use remains the same: providing ready funds for companies in cash-flow-challenged industries.

Revamp Your Payment Procedures

Deadbeat Deterrence: Mary Naylor of VIPdesk Inc. avoids late-payers and no-payers by insisting that she receive a prorated payment before the work is completed.

Surviving the Squeeze: Longer payment periods don't have to be cash-flow killers. These five steps can help you get payments moving smoothly again.

Top Billing: Ransom Environmental turned its bill-collection problem around by making sure that managers didn't ignore billing.

I'd Like to Speed Up Collection. Any Ideas?: Here's how to create a billing cycle that works for you and your customers.

Tips for Soloists

Collecting Yourself: Are you a sole proprietor who's having trouble getting paid? Staggering the timing of all long-term jobs can help.

Cough It Up!: One of the toughest parts about working for yourself is getting paid -- even by deep-pocketed corporations. Here's how to keep from being hoodwinked by reluctant clients.

Techniques that Work

How to Collect from Anyone (Even Enron): Thirty ways to get paid within 30 days.

Making Goliath Pay: Just because big companies have deep pockets doesn't mean they pay on time. Several Inc. 500 CEOs offer advice on how to play ball with the big boys and actually get paid.

What can I do if my customers are taking too long to pay?: While there is no magical answer to this classic lament, inc.com Offices & Operations mentor Charles J. Bodenstab offers some practical advice for dealing with late-paying clients.

No Pay, No Work: When James Stroop was president of a $12 million construction company, he took a hard line when it came to getting paid. He would stop work on any job for which payments were 20 days overdue.

Diplomacy for Debts: A collection agency president offers tips on how to tactfully track down money, with an eye toward preserving customer relationships.

Techniques to Avoid

Collection Slip-Ups: A panel of veteran collectors offers its opinions on what not to do when when it comes to collections.

Collection No-No's: Identify yourself when trying to collect on unpaid bills.

Collection Techniques to Avoid: The authors argue that some collection strategies don't work as well as you might think.

How To Spot Trouble in Your Financials: Diagnose what's wrong with your company by zeroing in on your financials.