Swiftness is the key to collecting past due commercial accounts because commercial accounts depreciate more faster than consumer accounts.

In creating and implementing a billing system, a credit grantor should recognize that time is the safest refuge of any debtor. The more time they are given, the less likely they are to pay. Hence, sales documents should be explicit about payment terms, return privileges, interest charges on overdue accounts, guarantee and service costs.

Various Commercial Collection Programs Used

A series of letters used together with an account aging sheet or data printout will help to track slow-paying accounts.

All systems should have an organized and mechanical follow-up of accounts at regular intervals, for instance, 30, 60 and 90 days past due.

It is essential to establish regular billing and commercial collections procedures. Follow up on every account to the point where contact