---
title: "Collecting Debtors Accounts"
canonical: "https://kb.myframeworks.com.au/space/PROSTIXV48DOC/31101348/Collecting%20Debtors%20Accounts"
format: markdown
---
Speed is the key to collecting accounts . In planning and carrying out credit policy, the credit manager should recognise that time is paramount when collecting payments from debtors. The more time the debtors are given, the less likely they are to pay. If an account is late, incomplete, inaccurate or difficult to understand, the debtor has reasons not to pay. The goal of collecting debtors accounts is simple, to facilitate payment. Sales documents should be explicit about payment terms, return privileges, interest charges on overdue accounts, product guarantees and service costs. Consideration may be given to sending invoices out as they are produced, rather than holding them until end of month. More regular statements may be the key for a certain range of customers.