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Setting Credit Limits

Setting Credit Limits

When granting credit, it has always been a policy for some companies to set a credit limit, be it across-the-board where a limit is set for all types of customers, or the credit limit is set for each type of customer depending on certain factors. Extending credit to...
Handling Overdue Invoices

Handling Overdue Invoices

At some point, companies have to deal with overdue invoices. Whether the term is 30 days or more, there are clients who, for one reason or another, fail to pay on time and this is one concern that should be dealt with on a regular basis. As we all know, survival in...
Imposing Interest on Unpaid Accounts

Imposing Interest on Unpaid Accounts

Most of the time, a business operation encounters overdue or unpaid accounts when customers fail to pay on time. While some companies do not impose interest on unsettled accounts, others do add a provision that in case the invoice goes overdue, interest is charged...
A Tight Collection Policy

A Tight Collection Policy

A tighter credit collection policy and control system can help any business by identifying potential debts and taking necessary steps to reduce them, and get paid on time, according to Mark Hegarty. In his article, Hegarty provided some tips to ensure prompt payment,...