Client Connection

Client Connection

Monday, December 12, 2016

Coming Down the Home Stretch for 2016: Here Are a Few Last-Minute A/R Collection Tips

Don't look now, but year-end is rapidly creeping up on you and your firm. All those questions about accounts receivable are front and center -- and take on a greater urgency as December 31 stares you in the face. Remember, do not allow your lawyers to delude themselves into thinking that they are going to be paid unless receivables are pursued. Just as important: they also must be reminded that clients are savvy -- and smarter at year-end, too -- regarding when -- and if -- they will pay.
Here are a few tips to help:

  • Schedule a meeting with each attorney who needs assistance getting his or her accounts collected. Figure out what help they need, and how you can give them that help.
  • Compile a list of clients who are expected to pay by year-end -- and when payments are expected. Regularly update your attorneys when collections come in, and let them know if clients pass their commitment date, so the appropriate attorney can take the necessary action.
  • Give the attorneys a checklist to help ensure payments are made. This will include verifying clients have copies of all outstanding invoices. Find out if clients are closing their offices around the holidays. Provide clients with the necessary information to get their money to you, whether it is routing instructions if payment is to be sent by wire, or an overnight express mail account number for quick delivery.
  • Walk the halls. Check in with attorneys on their collections progress. The fact of your visits will remind them that collections are a priority.
The holidays are never a restful time in a law office, but if you want peace of mind when that clock strikes midnight, take the time to take these steps. And don't forget, you can always learn more on our web-site at:

Happy Holidays and Happy New Year!