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Sometimes business owners ask this daunting question how do I address a backlog of unpaid accounts and liquidate my accounts receivable? Aging accounts receivable do nobody any good and only become less collectable the older they become. An over inflated accounts receivable is a sure sign of a cash flow problem and failure to quickly respond to outstanding A/R can be devastating or even catastrophic. The first thing to do is come up with a clean-up program that will liquidate accounts quickly and infuse cash into your company. Identify who is going to pay and who is not going to pay by sending late notices and collection letters and then follow-up with phone calls. Customers who do not respond or who have repeated excuses are not going to pay. Keeping them on your books lessens your chances of collection and affects your ability to focus on your more collectable accounts. Seek help from a professional collection agency as they have the resources to follow-up on large volumes of account
