Many utilities (rightfully so) maintain separate bank accounts for operating funds and security deposits. When you apply a customer’s security deposit and they are due a refund, are you writing two checks from your security deposit bank account? One to […]
0 comments
As we approach the New Year, I want to take a moment to thank you for your support over the course of the past year and wish you a very Happy New Year for 2025! During 2025, I will celebrate […]
0 comments
Recently, a colleague posted on LinkedIn about why it’s wrong to set rates by comparing what neighboring utilities charge. The blog post he wrote and referenced goes into great detail about why this isn’t a good idea. I’ve experienced similar […]
0 comments
How often do you update your general ledger from your utility billing system? How often do you reconcile the accounts receivable from your general ledger with your billing system? Many utilities only update the general ledger monthly, some less frequently […]
0 comments
I’ve written previously about how bank drafts are the easiest way to collect payments. They are also generally less expensive to process than credit card payments. As a result, many utilities offer incentives to get customers to sign up for […]
0 comments
Today’s blog post draws from my popular Improving Revenue Collections for Utilities presentation. Let’s examine some best practices when taking an application for service. Require a copy of rental agreement or closing documents Requiring applicants for service to provide a […]
0 comments
Does your office use a device similar to the one pictured above? If you do, are you getting as much value from it as you could? Remote deposit capture For several years, many banks have promoted check scanners to facilitate […]
0 comments
How does your utility handle accounts for customers who have passed away? The best practice is to close the account in the name of the deceased customer and open a new account in the name of the executor or family […]
0 comments
Recently, a prospect who was interested in conducting a business review encountered pushback from their board when they presented the idea. They reached out to me and asked if I could put together some reasons why using an outside consultant […]
0 comments
Recently, I wrote about the steps required to convert from billing in larger units, such as hundreds or thousands, to billing in individual gallons. (If your utility bills in cubic feet rather than gallons, please mentally substitute “cubic feet” everywhere […]
0 comments