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What is Credit Control?

The system used by a business to make certain that its give credit only to customers who are able to pay, and that customers pay on time.

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Sample Credit Control Process Follow

Day 1: Issue invoice and send to customers Day 15: Call customers to check for receipt of invoice Day 31: Call customers and ask for payment Day 45: Send demanding payment letter Day 50: Call customers to chase for debt Day 60: Send 2nd demanding payment letter Day 90: Pass issue to legal department to chase for debt
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What is account receivable managment?

Account Receivables Management refers to the set of policies, procedures, and practices employed by a company with respect to managing sales offered on credit. It encompasses the evaluation of client credit worthiness and risk, establishing sales terms and credit policies, and designing an appropriate receivables collection process.
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