ACC OU NT S From Payable to Paid
Managing accounts receivable BY S T EPHEN BEN NE T T
A truck belonging to Como Oil and Propane at one of the company's bulk storage plants in Duluth, Minn. Photo courtesy of Como Oil and Propane.
from a software program or a third party, some dealers and accounts receivable experts said a preferred approach is to press repeatedly for prompt payment on recent deliveries, as opposed to observing the traditional 30-day billing intervals. It's a tactic
I 18 APRIL 2012 | FUEL OIL NEWS | www.fueloilnews.com
f there is a fun part to the fuel oil business, collections probably isn't it. Whether they pursue payment on their own or with help
designed to maintain a revenue stream and minimize the number of accounts that end in time-consuming and potentially costly collections action. "Traditionally, you deliver the oil and you hope you get paid,"
said Rocky DeSimone, owner of Wyman Energy in Manchester, Conn. His company used to bill at 30-day intervals. Not since his company started working with Transworld Systems, about
