We do pay attention to what effects us emotionally. This is why experience in business is so crucial. But until you wind up with much excess inventory in your warehouse or some substantial bad debts, you probably won't really pay attention. Each recession offers business owners the opportunity to learn through suffering. Let's consider accounts receivable.
Most businesses extend credit to their customers.
They provide products and services to companies or individuals. And, they expect to get paid sometime after delivering the goods. But, unfortunately, some customers don't pay. The most important aspect of accounts receivable is to follow a set routine. Bill customers as soon as possible after delivering your service or product.