Collection Procedure 2

2.1 No transaction is complete until the amount the company has invoiced is collected in full and the resultant funds deposited in the bank. 2.2 Past due accounts represent an extended use of the company's money and deprives the company of the use and benefits of the money it has earned. Furthermore, it impacts the companys ability to settle the account fully and to pay our vendors in a timely manner. 2.3 As accounts become older and more delinquent, the more difficult they become to collect. Therefore, it is crucial to collect accounts before too much time has passed.