Toptal

A few years ago, I worked with a company that had what I consider a “common” receivables position:

Before getting to the answer, I’d like to suggest that overdue receivables are one of the most common and serious frustrations entrepreneurs face–and one of the most easily avoidable.

In my work as a freelance CFO, I cannot begin to count how many receivables I’ve seen go bad. If you’ve been in any size of business for any length of time, you know what I’m talking about.

Unless you are in the upper 95th percentile of companies, this is a list you could about recite back to me in your sleep.

The real and hidden costs of overdue receivables are staggering. They include:

This is not a complete list. The negativity and cynicism that often stems from receivables conflict can have a real impact on the mood of management and the company. The effect of this and

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