Keep an eye on aging accounts from existing customers. Don't wait until they are 3 or 4 months late try to collect. Once a month go through your accounts receivables and contact all your customers who were invoiced 30 or more days ago and haven't yet paid. Call them and let them know you haven't yet been paid, and that you want to be sure they've they received their order and your invoice. (If you sell a service, ask if they were satisfied with your work and if they've gotten your invoice.)

If there were no problems with the product or service and they have your invoice, ask when you can expect to receive their payment. If they didn't get the invoice, fax a new copy to them. Make a note of your conversation. If you have to follow up again the next month, politely remind the contact about your previous conversation and ask if there's someone else you should speak to about getting a check mailed to you.

Polite but persistent follow-ups will you get your invoices get paid more quickly without alienating good customers.

Find out what to do When the Customer Won't Pay

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