The Best Accounts Receivable Process For Print Shops

[printavo]

Ever been told cash is king? Do you know how much you have in your bank accounts this single moment? Do you know how much is owed to you? Don't get bogged down or scared of accounts receivable. Print shops continually struggle with accounts receivable because they assume that once a job is printed, they will get paid for it. What shops overlook is the process of getting paid, and the heavy burden associated with A/R. Remember, that money owed to you is not money you can further spend until it is in your bank account! Let's look at some best practices to create a positive cash flow in your business.

Read full article here: https://www.printavo.com/blog/the-best-accounts-receivable-process-for-print-shops

[ABuffington]

This really hits home.  My original practice was 50 down, COD on delivery which works up until you get a large school district, college, big box store.  We had to hire a full time worker just to chase down the money, even from large big box stores, large brand name merchandisers.  Factoring solid invoices from say a Walmart ate into profits but was needed to stay liquid.  Looking back at the hassle to collect large invoices, the 'missing paperwork runaround', the charge backs for phantom returned shirts we were never shown, the games like 'oh the comptroller is out, or I can't get a check signed til Monday only to find out Monday they have didn't sign the check so it will be ready next monday BS,  makes me wish I had kept it simple.  One 6/C manual, a cat, a numbering machine, a dog, and COD was so much easier.  Hours: Open sometimes, Closed for afternoon surf session, put an order sheet tablet and envelopes by the mail slot for regulars, ride a bicycle to work.  Yeah, good times, even if it wasn't a million dollar a month business.