I decided to post about this case study because it is sure to help young entrepreneurs out there. From helping the business owners in setting up the company, to setting up the SOP and managing their accounts, my firm has been doing everything possible that will help my clients excel in their business. So, when my client came to me with a problem of receivables, here’s what my team and I decided to do.

Analysis of Receivables

  • Each and every debtor in the books were discussed with the management and the salesperson.

Ledger Confirmation

  • Ageing analysis (it is process to know that since how long has the party not given the money) was done. The client sent the ledger confirmation to the parties and started following up aggressively by dropping them emails, follow up reminder and even a call by the sales team, till the time the payment was not recovered.

Follow up template and call training

  • Since the client could not focus on the receivables everyday as he was to look after the business, we set up a process of the list of parties, follow up template and call training. Within a month’s time the party was able to recover quite a lot of money and also the receivables process was streamlined for the new sales which were done.

Till date, this client had never kept a person for follow up. However, hiring a fresher and just training her for the call helped him get his money on time. Sometimes it is important to incur small expense to avoid a big hassle in future.

This was an easy task but considering the business owners already have too much on their plate, concentrating on these aspects becomes an issue. However, I hope that with this case study, you too can manage your receivables. This strategy worked for my client. However, some other stragy may work for you. Do write back if you have some other points.

If you need to consult with me on the same you may write to caswetamakwana@gmail.com

Author Bio

Qualification: CA in Practice
Company: Makwana Sweta & Associates
Location: Mumbai, Maharashtra, IN
Member Since: 20 Aug 2017 | Total Posts: 62
A qualified Chartered Accountant with over 4 years of rich experience in Company Law, Audits, Accounts & taxation. She is a writer at her own blog https://insights.caswetamakwana.com/. She is keen in streamlining business accounts of the Company and provide Startup consultancy. View Full Profile

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