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|The Mistakes Every Account Receivable and Payable Departments Make and Will Need To Learn From
Whether you handle an Accounts receivable or payable section, it may prove to be a very overwhelming task.
There's a great deal to take in and learn. At times it is hard to get it right all of the time. I used to work in those departments, many ages ago. I can tell you firsthand that it is exhausting to keep it all straight. A lot of headaches happen.
Luckily, these are Mistakes everyone makes. The important thing is to learn from the errors we make and move forward. When you know better, you do better. That is the GI Joe manner!
1) You Have to Do your Homework before you agree to help a customer out. Some businesses help customers that have little to no desire to repay their debts. Some companies help customers who cannot repay their debt, not for lack of trying, however. You need to do your due diligence.
You Should Think about asking Clients to complete a credit application before you assist them. That will provide you some indication as to whether they are worth the danger.
2) Some companies prefer to Deal with all the enormous problems first, before taking good care of the small ones. Most big problems start out as small. They get larger because the company neglects to do anything about them. Stop the madness. Look after the small problems before they turn into something bigger.
3) You Have to Keep your eyes In your plate. That means that you should look closely at your own job. You Cannot Worry so much about what others are doing. Most of us have a job to do. Prioritize The tasks for every department and keep focused. For instance automated accounts payable solutions.