In order to save time and make your collection efforts quicker and simpler here are some suggested abbreviations to use when recording the customer responses using Excel Your Account Receivables:

LVM = Left Voice message

RVM = Received Voice Mail

EM = Emailed

EMC = Emailed main contact

REM = Received Email

TT  = Talked To

TTC = Talked main contact list in Excel Your A/R

SI = Send invoice copy

SS = Sent Statement

FX = Faxed

INV = Invoice

WBP = Will Be Paid

 

For example if we called a customer and talked to someone about their past due invoice we might  enter:

TT Tony WBP  12/15   which means:  Talked To Tony and the invoice will be paid 12/15

 

If Tony is the main contact listed for this customer we can shorten it even further:

TTC WBP 12/15 which means: Talked To main Contact  (Tony in this example) and the invoice will be paid 12/15

 

Of course you do not have to use these abbreviation or if you prefer you can use your own.  The goal of Excel Your A/R is to make it quick and easy to effectively track your A/R collection efforts.