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  Payment Collection Policy Procedure



 
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Product Code: BMAC-REV109

  
Description
 
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Accounting Procedures Manual
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The Payment Collection Policy Procedure provides the methods for processing late or delinquent accounts.

The payment collection policy ensures an optimum accounts receivable turnover ratio through timely and effective handling of late payment activity. This payment collection procedure applies to the credit department involved with collection of past due accounts receivable and sales or shipping departments. (8 pages, 981 words)

Payment Collection Activities Covered

  • Collection Process
  • Seriously Delinquent or Unresponsive Accounts
  • Working with Collection Agencies
  • Writing off Uncollected Debt

Payment Collection References Used

  • Fair Debt Collection Practices Act (FDCP)

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