SlideShare a Scribd company logo
Collections 101: How to
Identify and Prevent
Collections Issues
Presented by: Ashlee Mikesh, Vice President of
Payroll Funding, & Andee Harms, Payroll Manager
Initial Vetting
• Know what kind of customer you’re doing business
with
• Ask questions prior to placing an employee
• Avoid getting caught up in initial excitement over
placements
• Have an approval policy in place
• Call us if you’re not sure what to check for
Handling a VMS/MSP
• VMS/MSP Fees
• Fees are typically 1-5% of
invoice
• VMS/MSPs pay based on
what is in their system
• Find upcoming payments in
the VMS’ system
Invoicing Set-Up
• Invoice Style
• How do they need to look
• What needs to be on
them
• Special requirements
• Who gets the invoice
and how do they get it
Billing Setup
• Use the “credit and
payroll” tab in
Enterprise to help
monitor:
• Payment terms
• Credit limits
• For quick glance at
important financials
Credit Limit
• Why set a credit limit
• Where can you check the credit limit
Planning for & Addressing Seasonal A/R
• Prepare for the season early
• Schedule extra staff hours for recruiting, coordinating timesheet
collection, entering hours
• Budget for up-front costs associated with the influx
• Know when to expect payment before work starts
• This way you can follow up as the payment day approaches
• Choose us as a partner for funding to help!
When to Escalate
• What metrics should you
look at?
• Leveraging your
relationship with the
customer
• Collections summary
report
What to Do When You Escalate
• Every situation is unique
• Call the Lone Oak
Payroll team!
• Our team has years of
experience to help you to
ensure payment from
your debtors in a
multitude of situations
Questions?

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The Works 2018 - Funding Track - Collections 101

  • 1. Collections 101: How to Identify and Prevent Collections Issues Presented by: Ashlee Mikesh, Vice President of Payroll Funding, & Andee Harms, Payroll Manager
  • 2. Initial Vetting • Know what kind of customer you’re doing business with • Ask questions prior to placing an employee • Avoid getting caught up in initial excitement over placements • Have an approval policy in place • Call us if you’re not sure what to check for
  • 3. Handling a VMS/MSP • VMS/MSP Fees • Fees are typically 1-5% of invoice • VMS/MSPs pay based on what is in their system • Find upcoming payments in the VMS’ system
  • 4. Invoicing Set-Up • Invoice Style • How do they need to look • What needs to be on them • Special requirements • Who gets the invoice and how do they get it
  • 5. Billing Setup • Use the “credit and payroll” tab in Enterprise to help monitor: • Payment terms • Credit limits • For quick glance at important financials
  • 6. Credit Limit • Why set a credit limit • Where can you check the credit limit
  • 7. Planning for & Addressing Seasonal A/R • Prepare for the season early • Schedule extra staff hours for recruiting, coordinating timesheet collection, entering hours • Budget for up-front costs associated with the influx • Know when to expect payment before work starts • This way you can follow up as the payment day approaches • Choose us as a partner for funding to help!
  • 8. When to Escalate • What metrics should you look at? • Leveraging your relationship with the customer • Collections summary report
  • 9. What to Do When You Escalate • Every situation is unique • Call the Lone Oak Payroll team! • Our team has years of experience to help you to ensure payment from your debtors in a multitude of situations