It is important to keep your Accounts Receivable customer account balances accurate; not only is this a substantial asset but represents the source of forward cash flow.
There are times when ledgers become aged and littered with potential problems such as receipts that may not have been allocated correctly or credits not processed - all of which may be connected with the merger or acquisition of a business. It may be a written off ledger or unrealised assets of a business that is no longer trading and the resource that had knowledge of the ledger is no longer accessible.
Whatever the reason the task of cleaning up such ledgers can be daunting, particularly when you have more current ledgers to maintain, but the longer it's left the more difficult the position becomes. Controlaccount has solutions for all sorts of derelict ledgers to ensure that entries are reconciled and aged debt balances correctly identified and subsequently recovered.
Contact us today to understand how we may be able to help you identify opportunities to reduce aged debt and bad debt write-offs.