Accounts Receiveable receives funds in multiple ways

Each Invoice that is in Quickbooks has a due date.  The due date is dependant on the terms of the order.  If payment in full is received on or before the due date, then no futher action is required from the customer.  If a customer does not submit payment in full by the due date, then the following actions should take place:

Ways to recieve funds:  cash, Check, Money Order, ACX, Credit Card.

Accounts Receivable steps:

1. Invoices will be email and mailed to the customer.  Regular mail may be omitted to customers who are regular customers who have a good history of payment.
2. If the account is past due with and aging between 1-3 days, then an email to the client and the accounts payable department of the client should be submitted.  The email should include the invoice(s) in question.  The grace period for a response is 2 days.
   • 2.1 – If payment is received with in 2 days then no further action is required from the customer.
   • 2.2 – If payment is not received within 2 days, proceed to step 2.
   • 2.3 – All details are to be recorded on the ACTIVE GOOGLE SHEETS file called : Weekly Collections Report.
3. If step 2 is completed without a response, then a second email is to be sent to the client, accounts payable department of the client, and the Gallagher Representative who confirmed the order at the end of the grace period of 2 days.
   • 3.1 – If payment is received with in 2 days then no further action is required from the customer.
   • 3.2 – If payment in full is not received within 2 days, then an invoice stamped “PAST DUE” will be mailed to the customer.
   • 3.3 – If payment in full is not received within 2 days, proceed to step 3.
   • 3.4 – All details are to be recorded on the ACTIVE GOOGLE SHEETS file called : Weekly Collections Report.
4. If step 3 is completed without a response, then a phone call to the accounts payable department of the client should take place.
   • 4.1 – If call is answered, inquire about the full balance.
     • 4.1.1 – If client does not have the full balance suggest a 50% payment towards the balance.
     • 4.1.2 – If client doe not provide the 50% payment, ask them for a payment of any kind.
     • 4.1.3 – If a payment is provided, schedule a follow up call in 1 week for the remaining balance.
     • 4.1.4 – All details are to be recorded on the ACTIVE GOOGLE SHEETS file called : Weekly Collections Report.
     • 4.1.5 – If payment is received with in 1 week then no further action is required from the customer.
     • 4.1.6 – If in 1 week balance has not been received, then restart step 1.
   • 4.2 – If call is not answered, leave a message that inquires about the balance.
     • 4.2.1 – On the message, leave your name, company name, phone number, email, invoice number, balance due, due date, and aging.
     • 4.2.2 – If client doe not return the call, then call again within 24 hours (2nd call).  If the initial call takes place on Friday, then the follow up call should take place on the following Monday.
     • 4.2.3 – If the 2nd call is not returned then call again within 24 hours (3rd call).  I f the 2nd call takes place on Friday, then the follow up call should take place on the following Monday.  If the 3rd call is not returned within 24 hours, then proceed to step 5.
5.   If step 4 is completed without a response, then a new email is to be sent to the client, accounts payable department of the client, the Gallagher Representative, and the Operations Director.  The email should include the invoice(s) in question, as well as a recorded history of attempts to collect the balance.  The grace period for a response is 2 days.
   • 5.1 – If payment is received with in 2 days then no further action is required from the customer.
   • 5.2 – If payment is not received within 2 days, then the Operations Director will call.
   • 5.3 – If payment is not received within 2 days, then an invoice stamped “PAST DUE”  and “URGENT” will be mailed to the customer.
   • 5.4 – If payment is not received within 1 day, after the Operations Director call, then proceed to step 6.
   • 5.5 – All details are to be recorded on the ACTIVE GOOGLE SHEETS file called : Weekly Collections Report.
6. If step 5 is completed without a response, then a new email is to be sent to the client, accounts payable department of the client, the Gallagher Representative, Operations Director, and Ownership.  The email should include the invoice(s) in question, as well as a recorded history of attempts to collect the balance and a final notice before it is sent to collections.  The grace period for a response is 2 days.
   • 6.1 – If payment is received with in 2 days then no further action is required from the customer.
   • 6.2 – If payment is not received within 2 days, then Ownership will call.
   • 6.3 – If payment is not received within 1 day, after the Ownership calls, then proceed to step 6.
   • 6.4 – All details are to be recorded on the ACTIVE GOOGLE SHEETS file called : Weekly Collections Report.
7. If step 6 is completed without a response, then all documentation will be sent to collections.

Corresponding letters for these steps are located on the DRIVE.  Letters are titled “ARP” which is Accounts Receiveable Proceedure.  Documents will be titled ARP with the step number.  Ex:  “ARP1.0” corralates with step 1.