Finish Strong: How to End the Year on Better Financial Footing
Now that Q4 is upon us, many firms are starting to think about their end-of-calendar-year finances and what can be done to improve their accounts receivable collections and decrease the amount of bad debt they currently have on their books. A firm’s ultimate goal is generally to enter Q1 and the new year sans unpaid client invoices and expenses. This is especially true this year, when projects and cash flow have slowed across much of the industry due to the coronavirus pandemic and resulting economic slow down.
In this guide, we will discuss steps that you can utilize in your practice to help you clear out your tagged receivables and hopefully get you paid on an account that you were all but ready to write-off for the year.