Invoice and chasing down late payers is a time-consuming and frustrating aspect of running a small or medium-size business. For these business owners or their office managers, the effort and expense associated with convincing delinquent accounts to settle past-due invoices can outweigh the returns. Experts know that the longer an account stays past due, the less likely it will be paid, but many businesses do not have the tools and staff to effectively manage ongoing late payment problems and debt collection.
A team of collection agency professionals has designed a new billing and debt collection software application called Bill Collector in a Box. The program aims to solve this headache for businesses and accounts receivable departments. Bill Collector in a Box centralizes the management of past-due accounts from initial contact to resolution of the outstanding invoice. The program runs on Windows PCs and complements popular accounting and personal finance software such as Quicken®, QuickBooks®, Microsoft® Money and Microsoft® Accounting Professional.
Bill Collector in a Box, which runs at about $99 and is available at office supply stores, enables business owners to easily perform and manage all of these typical phases of debt collection:
- Automatic printing of professional, legal debt-collection letters that comply with state and federal laws. The software automatically schedules follow-up letters and provides reminders of the next steps to be taken with each debtor.
- Credit bureau reporting. Reporting a bad debt to a credit bureau is an effective way to convince debtors that they need to quickly settle their invoices. With one click, Bill Collector in a Box reports a bad debt to the major credit bureaus.
- Skip Tracing. If a debtor has left town with no forwarding address, Bill Collector in a Box lets a business owner engage a professional investigator who will track down the debtor. Twenty-five basic skip traces and one advanced skip trace are included with the software.
- Processing of credit card and ACH transactions to enable fast settlement of invoices.
- Comprehensive report generation as well as importing and exporting of .CSV files to/from popular accounting software programs.
- Technical support, including an initial, personal familiarization walk-through of the software with a support technician, is included.
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