Can my accounting firm help me with debt collection?

Accountant, accountant, debt collection company – it can seem like there are many actors. Is it really necessary to engage your own collection agency to follow up on customers who have forgotten to settle for themselves? Can’t you just use the accountant?

Yes, your accounting firm can certainly do much of the necessary preparation. They can organize the attachments you send over and send out invoices, but the accounting office does not do the practical collection work, until you need a collection agency. Here are some of the things you should know about the relationship between your accounting firm and the collection company.

If a customer does not pay the bill you have sent, you or your accountant can proceed with the process by sending a debt collection notice to the customer. You may also send a reminder before the debt collection notice, but this is not a statutory notice and will therefore only be an extra credit to your customer.


Accounting agencies and debt collection companies often have cooperation agreements

Accounting agencies and debt collection companies often have cooperation agreements

Most accounting firms have a cooperation agreement with a collection agency. This cooperation agreement is often signed to ensure good conditions for debt collection services for small and medium-sized businesses, as well as to ensure that all collection is done efficiently and correctly. If you keep your own accounts, you can of course enter into an agreement directly with a collection agency on your own.


Claim Money On Your Own Or Engage Debt Collection Company?

You are not required to use a debt collection company to claim money as long as it is your own business that owns the claim. BUT, you are still required to follow all form requirements, laws and regulations. Therefore, it is important that you consider your own competence soberly before you choose to handle a past due expense on your own. In addition, you should form a realistic picture of how much time and resources you can spend on such a process. A customer who has not made up his mind should be dealt with as soon as possible. The longer you wait, the harder it will be to get the money.

On this collection page you will find more information about good deals, billing and debt collection: Payment and debt collection for SMB executives


Business is sending invoices and late payments

debt payment

It may be a good idea to engage a debt collection agency. We know from experience that small and medium-sized businesses struggle to cover the costs of following up claims, so for many people it is a good investment to get help with this. If you are not already using a debt collection agency for these services, ask your accountant if they have an agreement with a debt collection agency and make use of it.

It’s smart to be fast in recovery processes. If an invoice is overdue and unpaid, there is no intention of waiting for further action. If you then work with a collection agency, the process will be easier and faster.