Collecting Money


#1

in the quest to become a more efficient business, I had some questions about collecting your money from accounts.

I 80% of time collect right on the spot. I am thinking of just mailing the invoices to all the accounts minus hair salons and gas stations because they would rather give cash on the spot any ways.

The other 20% I hand them in and pick up later in a week or so when I’m in the area. So far everything has worked out, but I want to become more efficient with my time.

Should I mail them with a return envelope on the inside with postage included, or do they pay for return postage? Can I drop it off and have them mail it back?

It doesn’t eat a lot of time to hand it in and pick it up when I’m in the area…it just sometimes bothers me that I have to come back.
5 minuets here, 10 minuets there and at the end of the year It could add up to like 5 days of wasted time.

I think an easy way to make more money is to become more efficient.

Any advice??? How does your business go about collecting???

Thanks


#2

I don’t have an extensive route. I bill monthly for those with weekly or biweekly service. I leave an invoice with envelope at the time of the last service that month and they mail me the payment. I never go back to collect.


#3

do you include postage, or you let them worry about that?


#4

Sorry for the typo – “with” envelope should have been “without” – they take care of envelope and postage.


#5

I would not include postage, if you are mailing the invoice and including postage for them to mail it back,that is 82 cents. Just like going back eats up your time that adds up quick!


#6

At what level of $$$ do you mail invoice???

example: $30 and up, invoice and receive by mail.
Do you tell them to send it by mail?


#7

I rarely mail an invoice. I usually leave one on-site or email it.


#8

Is it just implied for them to mail it back???
Or does it have to be stated?


#9

I think it’s implied – everybody gets bills in the mail – but have that conversation to be sure.


#10

Will do


#11

I for one will not bill anyone for less than $30. TOO Much of a hassle with that . I let anyone know this when i set an account up with them. I don’t believe i have had anyone balk at this. The way i see things… If you have alot of $5, $10 and $15 invoices out there . things are going to get missed. I worked to hard for my money to take a chance on missing any money. Whether it is my fault or a customers.