From Payable to Paid

If there is a fun part to the fuel oil business, collections probably isn’t it.

Whether they pursue payment on their own or with help from a software program or a third party, some dealers and accounts receivable experts said a preferred approach is to press repeatedly for prompt payment on recent deliveries, as opposed to observing the traditional 30-day billing intervals. It’s a tactic designed to maintain a revenue stream and minimize the number of accounts that end in time-consuming and potentially costly collections action.

This story originally ran in Fuel Oil News. View the full article here.