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Using Interest Charges On Overdue Invoices To Speed Up Collection Efforts And Increase Revenue
Sponsored By Stevens & Ricci, Inc.
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- Abstract:
- Accounts receivable collection can be improved by addressing the failure by most creditors to attempt recovery of interest on overdue accounts. Sellers are missing out on additional revenue and a reduction in the days outstanding for their invoices. By simply extending a due date for an invoice in exchange for interest on the overdue amount, (called "selling finance charges"), it has been demonstrated that sellers gain a material amount of revenue while simultaneously reducing the time their invoices remain unpaid. This white paper describes the reason for selling finance charges and the expected gains from such practice.
- DETAILS
- Sponsored by: Stevens & Ricci, Inc.
- Released: October 07, 2009
- Length: 6 pages
- Format: PDF (33 kb)
- Email this abstract
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