This is the third of the series:
5. Invoice promptly – issue them as soon as is practical. Soon after they are issued contact the customer by phone or email ensuring they have the invoice in their system and that they have no problems with the supply – record this. Get them used to paying on time. Remember “a sale is only valid…”
6. Ensure your systems advise you of late customer payments – keep an eye on your debtors’ days (trade debtors’ ÷ sales for the previous 12 months) × 365). An increase could indicate a credit control issue.
These are my thoughts and information from various other sources. Your comments or observations are welcome.