- 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
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.