Home » ExchangeEveryDay » Effective Collection Policies and Practices

ExchangeEveryDay Past Issues

<< Previous Issue | View Past Issues | | Next Issue >> ExchangeEveryDay
Effective Collection Policies and Practices
May 28, 2018
I always had a decent sense of outrage.
-Bella Abzug

In her Exchange article, "Accounts Receivable Management: Effective Policies and Practices" (included in the new Exchange Essential, "The Business of ECE Finance,") Kathy Ligon makes the point that "more often than not, schools have effective policies in place, but are not enforcing them consistently. This creates a strain on cash flow and diverts valuable time that owners and directors would rather spend on strengthening programs and services to children and parents. Make no mistake — managing accounts receivable will always take some amount of time — the objective is to be effective and efficient with that time.

The first step in accounts receivable management is to be sure that an effective policy is articulated and provided in writing to all parents…The second step…is repetition, follow through, and consistency…This could mean setting up a regular time each week where the owner or director makes accounts receivable the number one priority. As uncomfortable as it might be to make collection phone calls, think of how uncomfortable it will be if there is not enough cash to pay the bills."

Exchange Essentials

Find resources on a wide range of topics to help support the children in your classroom.

Choose from 44 collections on subjects such as administration, child development, curriculum, environments, family, and leadership.

All Exchange Essentials, such as one called Block Play
are now buy two, get two FREE!

Enter code "Essentials" when prompted.

Offer valid through September 14, 2018 at 11:59 pm Pacific Time.
May not be combined with any other offer.


Delivered five days a week containing news, success stories, solutions, trend reports, and much more.


What is ExchangeEveryDay?

ExchangeEveryDay is the official electronic newsletter for Exchange Press. It is delivered five days a week containing news stories, success stories, solutions, trend reports, and much more.

Onsolve - Start Your Free Trial Today.
KODO Kids - 5 Maker Projects to try in 2018.
Oral Health America - Keep you child’s teeth healthy with fluoride

Post a Comment

Have an account? to submit your comment.


Your e-mail address will not be visible to other website visitors.

Check the box below, to help verify that you are not a bot. Doing so helps prevent automated programs from abusing this form.

Disclaimer: Exchange reserves the right to remove any comments at its discretion or reprint posted comments in other Exchange materials.