Turning Accounts Receivable into Cash
By definition, accounts receivable is simply money owed to an entity or lender. This is a form of an accounting transaction that shows as a balance pending. Usually, accounts receivable deals with pending transactions such as goods or services, and the customer is generally billed after the services are complete. It is a standard business practice to assume that the customer will act in good faith and pay the money due in a timely manner; however, this is not always the case. In some situations, accounts receivable will remain unpaid, sending the debtor into collections.
When an accounts receivable is not paid, collection agencies make an attempt to obtain the unpaid debts. Sometimes, these debt collection attempts will be made for weeks or months to little or no avail. Most business practices take into consideration doubtful accounts and balance the cost of unpaid debts in their spreadsheets, but accounts receivable that are not paid still mean no money. It is important that you turn these accounts receivable into cash by working with a dedicated attorney who will aggressively negotiate with the debtor and help you obtain the debts you are due.
How an Attorney Can Help
By working with the Law Offices of Alden B. Smith, you can help turn your accounts receivable into cash. My dedicated collections team and I are not afraid to make pre-litigation negotiations in an attempt to receive the debt. If negotiations are not met, I will take legal action to help pursue your return on investments. With every service that is provided and every account that is taken into consideration, you deserve a financial return on your time and goods expended. If you are struggling to receive the debts you are owed or have questions about turning your accounts receivable into cash, contact the Law Offices of Alden B. Smith today to speak with a dedicated New York debt collection attorney.