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Tools and Quizzes
>  Control Your Finances with Electronic Record Keeping
>  An Ounce of Prevention: Keep Your Records Secure
Tools and Quizzes
>  What Kind of Record Keeper Are You?
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How Effective Is Your Receivables Policy

Take this quiz to gauge how well your company is handling receivables. After answering all ten questions, click the submit button, and you’ll receive an assessment of the effectiveness of your collections strategy and tactics.

1. Do you generally receive payment from your clients within 30 days of sending out a bill?
  yes no

2. Do you commonly have accounts that are 60+ days past due?
  yes no

3. Do you send out bills when a project is complete or a product is shipped, as opposed to mailing them on a specific day such as the first of the month?
  yes no

4. Do all customers receive a copy of your payment terms, either on your invoices, through a contract or purchase order, or directly?
  yes no

5. Do you have and follow a set of internal procedures to handle slow-paying customers?
  yes no

6. Do you perform credit checks on new customers by contacting credit-rating services?
  yes no

7. Do you occasionally fail to receive payments because your invoices were sent to the wrong person?
  yes no

8. Do you or your managers receive weekly accounts-receivable updates that list slow-paying customers?
  yes no

9. Do you have a process in place for handling customer satisfaction problems?
  yes no

10. Have you ever allowed a customer to post-date a check?
  yes no