Collect Now or Regret It in December

Forget about closing this quarter strong….it’s time to prep for year-end!

Kidding in a way as we always want to close the quarter on a strong note, but as we get close to end of Q3 (really where does the time go?!) we need to start really prepping for Q4 collection efforts. 👇️ 

For many businesses, Q4 is make-or-break. Sales push hard, expenses creep higher, and leaders are focused on closing the year strong. But there’s one area that often gets overlooked until it’s too late: collections on receivables.

If you wait until December to chase down overdue invoices, you’re already behind…like WAY behind. Customers slow down during the holidays, offices close, and suddenly what you thought would be collected this year rolls into next. That means tighter cash, more stress, and less flexibility for your business heading into January.

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The reality is that receivables management in Q4 isn’t optional…it’s critical. Every dollar stuck in unpaid invoices is cash you can’t use to cover expenses, invest in growth, or build reserves for the slower start of the new year.

Here’s how to get ahead right now:

• Review Aging Reports Weekly
  Don’t wait for month-end. Check your receivables aging every week in Q4 so you know exactly who owes what and how long it’s been outstanding.

• Prioritize Large & Old Accounts
  Focus on the biggest balances and the ones creeping past 45 or 60 days. Collecting these first has the biggest impact on your cash flow.

• Tighten Terms and Enforcement
  Remind customers of their agreed terms, and don’t be afraid to pause work or shipments until balances are resolved. Protecting your business comes first. ALWAYS!!!

• Incentivize Early Payments
  Offer small discounts for payments made ahead of schedule. Even shaving a few weeks off payment cycles can make a big difference in Q4.

• Get Your Team Aligned
  Sales, operations, and finance should all be on the same page. Clear communication ensures customers don’t slip through the cracks.

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