Any time you perform a service before being paid, you extend credit. So why not create an official policy, so clients know what you expect in terms of payment?* No credit policy in place? If the policy is in effect from the start, there can be no 'misunderstandings.'

* Not using your credit policy effectively? If a client reliably abides by the basic policy, you can loosen it or offer different terms to help encourage them to take on more services.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access