As soon as an account receivable becomes past due, a business owner should turn it over to a collection agency.

Question

Quizplus · Accepted Answer

While it is important for a business owner to promptly follow up with customers who have overdue payments, there are various steps that can be taken before turning the account over to a collection agency. These may include sending reminders, making phone calls, and offering payment plans. Only as a last resort should a business owner involve a collection agency.

As Soon as an Account Receivable Becomes Past Due, a Business