Credit management is the process of assessing the creditworthiness of customers, setting credit limits, and monitoring customer payments to reduce credit risk and improve cash flow.
Modern accounting is the practice of leveraging technology to improve the accuracy, efficiency, and scalability of accounting operations, such as through the use of cloud-based accounting software, providing businesses with real-time insights into their financial data and allowing them to make more informed decisions.
Payment terms are an essential part of any business transaction, and should be carefully considered by both parties to ensure a successful outcome. They provide assurance of payment for the vendor, and an incentive to pay early for the buyer, while also helping to establish a good relationship between the two parties.
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