Synchronize credit and sales strategies.
That's not good business. But it often happens anyway because of the absence of a specific policy on overdue accounts. There may be times when loosening the credit standards makes good sense--as a courtesy to an especially good customer and with the CFO's OK. But it never should be an informal arrangement between the sales and credit departments.
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|Title Annotation:||GOLDEN BUSINESS IDEAS|
|Publication:||Journal of Accountancy|
|Date:||Aug 1, 2005|
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