mean "Due Upon Receipt", but rather "Due When You Get Around To It." Businesses that allow a "When You Get Around To It" policy, will eventually create significant receivabIf you want to stay healthy as a business, it is necessary to provide some basic training to your customers on how they should do business with you.

Let's look at an example of how we train our customers to create problems for us. Suppose you have a policy of invoicing your customers on the first of the month and your terms are "Due Upon Receipt."

Very rarely does a customer drop everything and write a check that moment. A bill that is due upon receipt is already late, so a few more days won't make a big difference. When the customer gets around to writing the check a few weeks later, you deposit it and nothing is said. So your customer understands that you really did not mean "Due Upon Receipt", but rather "Due When You Get Around To It." Businesses that allow a "When You Get Around To It" policy, will eventually create significant receivabl

ample of how we train our customers to create problems for us. Suppose you have a policy of invoicing your customers on the first of the month and your terms are "Due Upon Receipt."

Very rarely does a customer drop everything and write a check that moment. A bill that is due upon receipt is already late, so a few more days won't make a big difference. When the customer gets around to writing the check a few weeks later, you deposit it and nothing is said. So your customer understands that you really did not mean "Due Upon Receipt", but rather "Due When You Get Around To It." Businesses that allow a "When You Get Around To It" policy, will eventually create significant receivab

eceipt."

Very rarely does a customer drop everything and write a check that moment. A bill that is due upon receipt is already late, so a few more days won't make a big difference. When the customer gets around to writing the check a few weeks later, you deposit it and nothing is said. So your customer understands that you really did not mean "Due Upon Receipt", but rather "Due When You Get Around To It." Businesses that allow a "When You Get Around To It" policy, will eventually create significant receivab

g difference. When the customer gets around to writing the check a few weeks later, you deposit it and nothing is said. So your customer understands that you really did not mean "Due Upon Receipt", but rather "Due When You Get Around To It." Businesses that allow a "When You Get Around To It" policy, will eventually create significant receivab mean "Due Upon Receipt", but rather "Due When You Get Around To It." Businesses that allow a "When You Get Around To It" policy, will eventually create significant receivable and collection problems for their company, not a good thing.

So how do you train your customers to pay on time? Look at your water or electric bill. They all say "Due upon Receipt." But there is also another date on the invoice which says "Past due if not paid by..." And what do we do? We wait until the bill is just about to go past due, then we pay it. Why? Because we don't want to be late, right? Even though we have established terms of "Due Upon Receipt", we must still set a solid expectation with our customer as to when the bill is past due. This also gives us a clear point where we can impose penalties for late payment.

We are always training our customers in s