You won’t collect all your receivables, but you DO have to pay all your payables if you want to stay in business.
Some people won’t pay you, but you have to pay everyone else.
Account for this in your pricing. Of course, try to collect all your money, but when you have to write some off, it won’t bother you as much if you planned for it.
What is your bad debt allowance? .25%? .5%? 2%?
Happy New Year! Here is to a big year!!!
Good point! Another thing I learned in 2018 🙂 Now …I’ll apply in 2019 ! Happy New Year Larry and SOE!
Good morning Larry and all of our SOE brothers & sisters! We are excited to be entering 2019. Wishing you all Love, Joy, Health, Balance, and the steady realization of your goals. See you soon! Happy New Uear!
Wishing you and yours a happy new year!