Late Payment Terms

AR professionals can be heroes to a company's customers. Like when they send beautifully crafted, complete invoices, or perhaps offering cash discounts for early payments. But what about when the money doesn't come in, and it's time to begin assessing the penalty — interest. Accounts payable personnel can dispute it, argue it and even refuse to pay it, and AR folks start to look like demons. Rest assured, AR, that you have certain rights to collect that interest, even if sales didn't happen to…