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|The Mistakes Every Account Receivable and Payable Departments Make and Need To Learn From
Whether you manage an Account receivable or payable department, it can prove to be a rather overwhelming task.
There is a great deal to take in and understand. Sometimes it's hard to get it right all of the time. I used to work in one of those departments, many ages back. I can tell you firsthand that it's exhausting to keep it all straight. A good deal of headaches occur.
Luckily, these are Mistakes everyone gets. The important thing is to learn from the mistakes we make and move forward. If you know better, you do better. That's the GI Joe way!
1) You Have to Do your Homework before you consent to help a customer out. Some businesses help customers that have little to no desire to settle their debts. Some businesses help clients who can't repay their debt, not for lack of trying, however. You have to do your due diligence.
You Should Think about asking Clients to fill out a credit application before you help them. That will give you some indication as to whether they are worth the danger.
2) Some businesses like to Deal with all the big problems first, before taking good care of the small ones. Most large problems start out as small. They get bigger because the company neglects to do anything. Stop the madness. Look after the small problems before they become something larger.
3) You Have to Keep your eyes In your plate. This means that you ought to pay attention to your own job. You Cannot Worry a lot about what others do. We all have a job to do. Prioritize The tasks for every department and stay focused. More information: description here.