Collections
Every late invoice gets its next move.
Late invoices sort by age. Each one gets its next move drafted, firmer as it gets older.
Lien deadlines are counted down for you. Every draft waits for your OK.
- Before
- Someone pulls the aging report when there is time. A lien date can slip by.
- After
- Every late invoice has its next move drafted. You OK it, and the follow-up goes out that day.
Late invoices6$284,300 in all, oldest 94 days
All 6 sorted by age
30 plus days$64,350
Friendly reminder 2 drafted
“Pay app 8 is 41 days out. Is it on your next check run?”
Needs your OK
60 plus days$123,550
Sent to a person
Firm follow-up 2 drafted
“Pay app 7 is 67 days past due. Please send a payment date by Friday.”
Needs your OK
90 plus days$96,400
18 days left to protect your lien rightsFor you to act on. No lien paperwork is drafted.
Call script for you 1 drafted
“Confirm they have pay app 4. Ask what is holding it. Agree on a date.”
Needs your OK
Sent to a person
A related-party invoice. No automatic follow-up.
Waiting costs you $70.10 a day
Assumed 9 percent cost of money: $284,300 x 0.09 / 365. It is your cost, not a charge. Nothing is added to any invoice.
- Six late invoices, $284,300 in all, slide into a tray. The oldest is 94 days.
- They sort into age bands. 30 plus days: Harbor Street pay app 8, $41,600, 41 days, and Northgate clinic pay app 5, $22,750, 36 days. 60 plus days: Northgate clinic change order 3, $38,900, 72 days, and Harbor Street pay app 7, $71,250, 67 days. A related-party invoice, $13,400, 63 days, is in this band too. 90 plus days: Riverside library pay app 4, $96,400, 94 days.
- The related-party invoice goes to a person. It gets no automatic follow-up.
- Each band gets its next move drafted, firmer as it gets older: 2 friendly reminders, 2 firm follow-ups, and a call script for you.
- The Riverside invoice shows a flag: 18 days left to protect your lien rights. It is a flag for you to act on. No lien paperwork is drafted.
- A meter shows waiting costs you $70.10 a day, at an assumed 9 percent cost of money. Every draft waits for your OK.