The first important step is to maintain some
condition at the time of giving your account receivable to some other client. Extendingyour account receivable is not a good for financial health of your company. But
extending account receivable is important for competitive market because if
your competitors are giving this option then you have to give for attracting
more customers. This is a great way to keep your customer coming back to you.
Running an account department is not an easy task
always assigning an employee for looking all these stuffs. It has to be done in
a right way. There are some amazing software’s available in the market which
can help you for maintain your invoices.
Always keep in mind your profit margin because you
can extend your credit from customer according to profit your organization is
getting. Cash flow should be streamlined for growth of your business. Check yourworking capital too before extending your account receivable. You should have
complete detail of all who owe your money as account receivable.
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