Customers' Check Records

Before you head for the bank with your checks, head for the copier.
1 min read
Opinions expressed by Entrepreneur contributors are their own.

Collecting on past-due accounts can be a nightmare, but you can increase your chances of getting what's owed you if you photocopy checks before you deposit them, says Ron Z. Opher, a collection attorney in Philadelphia.

"Many accounts that end up in collection have some past payment history," Opher says. "If we have the bank name and account information, we can dramatically increase recovery [once a judgement has been issued]."

Do you need to copy every check you receive? No, says Opher, just do it often enough to maintain current information on each customer. "At the outset, you don't know who will pay or who won't in the long run, so it's always a good idea to record the bank information at first payment, then review it upon subsequent payments for any changes."

More from Entrepreneur

Are paying too much for business insurance? Do you have critical gaps in your coverage? Trust Entrepreneur to help you find out.
Get Your Quote Now

One-on-one online sessions with our experts can help you start a business, grow your business, build your brand, fundraise and more.
Book Your Session

Whether you are launching or growing a business, we have all the business tools you need to take your business to the next level, in one place.
Enroll Now

Latest on Entrepreneur

My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.

It Started As a Joke and Turned Into a Startup That Raised $1 Million in Funding