Insights
Avoid the Black Sheeps
25 September 2024 · 1 min read
Hazem Kassem
Reviewed by Hazem Kassem — Founder & Managing Director, ACCA & CMA Read bio →
Develop a Clear Credit Policy
One of the most critical steps in managing accounts receivable is to establish a clear credit policy. This policy should outline the terms and conditions for extending credit to customers, including credit limits, interest rates, and payment due dates. The policy should also specify the procedures for handling late payments and defaults. It’s a way of financing to your clients, so make it right.
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