Collection Agency Gives Lessons for Schools in Account Receivable Policies

Nov. 9, 2010 - PRLog -- American Profit Recovery, a nationwide collection agency based in Michigan, Massachusetts and North Carolina has worked with many school managers to recover monies owed to their institutions. From book fees, overdue parking tickets and other school-related fees, educational institutions need to stay on top of these overdue fees.

The calendar recently flipped to November which means we are deep into fall and school is in full swing. Although students are regularly studying to pass tests, no school wants to test their accounts receivables process. Therefore, it is essential to have clear and steadfast payment policies in place.

From colleges and universities, private schools and daycare centers, the need to stay on top of receivables is critical. Below are a few tips the collection agency has put together to be successful in recovering tuition and other fees to help schools of all types retain a sound reputation in the community and the education industry:

Manage expectations with information: To keep parents and guardians from feeling shocked when they receive a bill, provide them with information during student enrollment or orientation. Set the stage regarding a school billing policies with clear information in writing and specify the time period in which clients are expected to pay. This method allows time for clients to prepare financially and increases the chances invoices being settled.

Employ educated and ethical individuals: Good team members are the cornerstone to successful accounts receivables policies. Employees who treat parents with respect and diplomacy produce the most effective results. Take time to hire quality employees and provide proper training ensure that payment policies are concisely conveyed.

Follow-up with a phone call: This method allows an opportunity for clients to discuss their concerns. Following this dialogue, clients may be asked how they would like to settle their bill. This approach softens the collection process and typically produces an effective end result.

Sometimes even when the most successful policies are in place, accounts may remain unpaid. When a bill is over 30-days overdue, it is time to find help. An affordable, ethical and reputable collection agency can assist in steering a school toward the right financial track while also providing a plan for a lucrative financial future. More tips can be found here at http://www.collectionagencyblog.com/2010/11/an-education-....

About American Profit Recovery:
American Profit Recovery (APR) is a collection agency with offices in Massachusetts, Michigan and North Carolina. Founded in 2004, APR specializes in the collection of third-party debt in industries such as medical/dental, banking, trades, lawn care and other professional services. With early intervention and a strong focus on ethics and diplomacy with consumers, APR works hard to preserve the relationship between client and consumer with an ultimate goal of keeping the business relationship intact. The firm serves approximately 2800 clients nationwide. American Profit Recovery and their team have earned many awards including Best Places to Work in Collections and Most Influential People in the Collection Industry. 800-711-0023 http://www.americanprofit.net/

# # #

American Profit Recovery is a collection agency with offices in Massachusetts, Michigan and North Carolina. With early intervention and a strong focus on diplomacy with consumers, APR works hard to preserve the relationship between client and consumer.