In any month I always have approx 20% of my income outstanding due to custies being out/not sending cheque etc. I agree with most on here that the 20% would help with my bills etc. But I've been in this business 23 years and never had a 100% money in over a monthly period.
I would be more than happy if I only had 20% owing by the end of the month of turn over thats quite good. as long as debt is not higher than 100% of 28 day turnover I dont worry.
I never collect payments this is why I am owed, its cheque/postal order, standing order and direct bill payments, I dont want to waste my time in the evening doing so, I know others do and fair play, I class my debt as good debt, I just use my time different
