Collections Plus, Inc.

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Reconcile: Measure What You Manage

Account reconciliations should be part of your month end process. Reconciling your accounts is important to ensuring your company’s financial integrity and the accuracy of your bookkeeping. It enables you to have accurate numbers for your balance sheet. I believe account reconciliation is one of the most important things a bookkeeper does. Data entry is usually a pretty simple matter of making judgments on what accounts to assign transactions to. Reconciling your accounts is where the rubber meets the road. In fact, if you haven’t reconciled as part of your month end, you haven’t really done bookkeeping. You’ve just done […]
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Follow the Leader: Can Good Leaders Be Good Followers?

by Collections Plus
Good leaders also need to be good learners. As a good leader you should never stop growing and learning. It would be interesting to explore a slightly different perspective on leadership: what can good leaders learn from being good followers? The concept of following instead of leading is hard for many of us to swallow. Yet, having good followers is the fulcrum on which good leaders lever their skills. The fact is, too, that we all can’t lead all the time. Inevitably we are followers of someone or something and our ability to competently and skillfully follow a leader is […]

Funding Your Business: 10 Options to Consider

While the main focus of Collections Plus is helping you collect any past due accounts you may have on your books, we realize you may find the need to acquire additional financing for your business. So in this article we cover 10 options open to you in ways to get funding.  So, planning how to fund a business is hardly a trivial or brief topic. Indeed, a thorough discussion would take much more space than we have here. First, there are two ways to externally fund a business: debt and equity. When debt is used, the investor receives a note […]

Time is Money, 4 Tips to Mange Your Time

While Collections Plus is here to help you collect when one of your clients is not paying you, there are other ways your business may not be operating efficiently. Here are some tips from a recent article in Entrepreneur on how to better manage your time. 1. Your schedule can never be too organized. You have to be accessible but with limits to avoid having your time usurped. This is why I run my day with my Microsoft Outlook calendar. Outlook (along with Mozilla’s Thunderbird and other competitors) allows users to create blackout times and dates to ensure meetings aren’t scheduled […]

Four easy steps to optimize the cash flow of your medical practice.

Cash Flow – an issue that is only discussed when there is not enough of it – or when there is a suspicion that everything is not well – be it a growing age analysis or writing off large amounts at the end of the financial year. At Collections Plus, Inc. we can help your business manage cash flow by managing how you collect and manage your accounts receivable. Contact us today for all your commercial collections needs. The subject of Cash Flow Management has become an enigma to most medical practitioners – as it’s perceived to be outside the […]

3 Simple Tips for a More Effective In-House Debt Collection Process

Managing invoices and collecting them on time is not an easy job. It requires a significant investment of your time and energy and even then many of your invoices are likely still going beyond terms, being written off as bad debt, or being sent off to a debt collection agency. The debt collection process is complicated and tedious, but there are some surprisingly simple things you can do to become more efficient and significantly more effective when it comes to managing and collecting invoices in your office, here are a few tips to help you get started: Sending the InvoiceOnce […]

The 5 Worst Cash-Flow Mistakes Small-Business Owners Make

No matter how great your business model is, how profitable you are or how many investors are interested in supporting your business, you can’t survive if you can’t manage your company’s cash flow. In fact, a prominent study from the financial services company U.S. Bank found that as many as 82 percent of startups and small businesses fail due to poor cash-flow management. So, even if you’re a brilliant entrepreneur in every other way, you must stay squarely focused on managing your company’s cash flow to avoid putting your business in imminent danger. Here are five of the most common cash-flow problems: 1. Overestimating future sales […]

Collections Plus – A Commercial Collection Agency

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We have worked with many industries to bring about change and dramatic results in our customers’ sales to cash cycles. As your strategic business partner, we become a comprehensive and transparent component of your daily operations — whether you have an internal credit department or not. Our solutions integrate easily and cost-effectively with corporate systems within 24-48 hours. If you’re ready to take control of your trade receivables management then it is time to contact Collections Plus, Inc. We are a full service commercial collection agency located in the Grand Rapids, MI area. We can help you get results almost immediately. […]

Consumer vs Commercial Collections

At Collections Plus we only handle commercial collections, but we thought this article was helpful in explaining the differences between commercial and personal collections. What is the difference between consumer and commercial debt? At Collections Plus we only handle commercial collections, but we thought this article was helpful in explaining the differences between commercial and personal collections. Let’s start by a simple set of definitions. A consumer debt, which is sometimes called a “retail debt”, is always a debt incurred by individuals in the course of their daily living. It’s easier to think of what it is NOT – it […]

Collection Laws by State

by Collections Plus
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