{"id":8859,"date":"2022-05-02T07:00:00","date_gmt":"2022-05-02T11:00:00","guid":{"rendered":"http:\/\/199.250.223.35\/~craftbrewery\/?p=8859"},"modified":"2022-05-18T14:01:10","modified_gmt":"2022-05-18T18:01:10","slug":"brewery-cash-flow-series-10-tips-to-manage-your-a-r","status":"publish","type":"post","link":"https:\/\/craftbreweryfinance.com\/oldversion\/brewery-cash-flow-series-10-tips-to-manage-your-a-r\/","title":{"rendered":"Brewery Cash Flow Series: 10 Tips to Manage Your A\/R"},"content":{"rendered":"<p>We all know that cash is king. Cash and access to capital gives you options to ride out tough markets, re-invest in the business, and provide excellent wages and benefits to your employees.<\/p>\n<p>And, a ton of cash is sitting uncollected in your Accounts Receivable right now, just waiting for you to collect.<\/p>\n<p>In this post I&#8217;ll share 10 Tips to Manage your Accounts Receivable so that you can improve cash flow in your beer business.<\/p>\n<h2><strong>10 Tips to Manage your Brewery Accounts Receivable<\/strong><\/h2>\n<ol>\n<li>Know your customer: Use credit apps and new account forms.<\/li>\n<li>Manage your collection team: Set an AR policy for Admin.<\/li>\n<li>Automate customer payments: Use a company like Fintech for EFT payments<\/li>\n<li>Don\u2019t get lost in the details: Most collections people do.<\/li>\n<li>Know who writes the check: Chains, and independents, in particular. Who you gonna call?<\/li>\n<li>Be a good business person: Always pleasant, and persistent. The goal is to collect the money and keep the customer.<\/li>\n<li>Use collection agencies: These can be effective if you act quickly.<\/li>\n<li>Measure and use scorecards: Days outstanding. (the math behind accounts receivable collections)<\/li>\n<li>Watch out for short pays and skipped invoices: Investigate why it was short paid, determine if it can be re-billed.<\/li>\n<li>Engage the sales and delivery teams: Create an SOP for cash flow success.<\/li>\n<\/ol>\n<h3><strong>Watch the short video below: 10 Tips to Manage your Accounts Receivable<\/strong><\/h3>\n<p><iframe src=\"https:\/\/player.vimeo.com\/video\/678267512?h=88d08834df\" width=\"640\" height=\"360\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p><em>P.S. We have a self-directed online course on brewery cash flow management. Take the course and build a cash plan for your brewery. The course is included with your <a href=\"https:\/\/craftbreweryfinance.com\/oldversion\/shop\/\">subscription to Craft Brewery Financial Training<\/a>.\u00a0 As a special bonus, sign up this month and you&#8217;ll receive the Brewery Cash Flow White Paper.\u00a0\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>We all know that cash is king. Cash and access to capital gives you options to ride out tough markets, re-invest in the business, and provide excellent wages and benefits to your employees. And, a ton of cash is sitting uncollected in your Accounts Receivable right now, just waiting for you to collect. In this [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":8860,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"pgc_meta":"","_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"footnotes":""},"categories":[63],"tags":[],"class_list":["post-8859","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial"],"_links":{"self":[{"href":"https:\/\/craftbreweryfinance.com\/oldversion\/wp-json\/wp\/v2\/posts\/8859"}],"collection":[{"href":"https:\/\/craftbreweryfinance.com\/oldversion\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/craftbreweryfinance.com\/oldversion\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/craftbreweryfinance.com\/oldversion\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/craftbreweryfinance.com\/oldversion\/wp-json\/wp\/v2\/comments?post=8859"}],"version-history":[{"count":0,"href":"https:\/\/craftbreweryfinance.com\/oldversion\/wp-json\/wp\/v2\/posts\/8859\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/craftbreweryfinance.com\/oldversion\/wp-json\/wp\/v2\/media\/8860"}],"wp:attachment":[{"href":"https:\/\/craftbreweryfinance.com\/oldversion\/wp-json\/wp\/v2\/media?parent=8859"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/craftbreweryfinance.com\/oldversion\/wp-json\/wp\/v2\/categories?post=8859"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/craftbreweryfinance.com\/oldversion\/wp-json\/wp\/v2\/tags?post=8859"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}