Your cash ? You've earned it, so go for it !
Aged Balance ensures your company solvability, by checking cash is entering the company within the shortest delays.
How to use it
Rule #1. Overdue amount must be as low as possible.
Rule #2. Start to collect those having the biggest overdue. The cash you don't have yet doesn't serve your company, but customer one.
Some usage you could find
- It prioritizes invoices collection. Always start with the ones having the biggest overdue.
- It indicates the amounts to be received by successive periods.
- It installs an effective communication between collection services and people in touch with customers.
- It objectives the ability to grant payment facilities for certain customers (when they always pay on time for example).
- It serves to frame customer follow-up for those having hard times to pay on their bills over the past.