Follow up on receivables
Follow up the receivables ledger is one of the most important finance processes. To get an overview of the customers' open posts and the customer cash flow help you to see if there is a need for resending invoices, sending a statement of account, sending dunning letters, or calculate interests. The information will help you decide if the customer should be allowed to place new orders before old orders are paid. It can be advisable to set a credit limit for a customer to decrease the risk of loss if the customer does not pay.