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What is the term for the average time it takes for customers to pay you?
Wiki User
∙ 9y ago
The term for the average time it takes for customers to pay you is the average collection period.
Wiki User
∙ 9y ago
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What is the accounts receivable term for the average time it takes your customers to pay you?
Net
What is the term for the average time it takes customers to pay?
The average time it takes for customers to pay is referred to as Days Sales Outstanding. Computing this ratio lets companies know how fast they are turning sales into cash.
What is term for the average time it takes your customer to pay you?
NET 30, 60, or 90 are typical payment expectations for customers. Net 30 = 100% of the balance paid in 30 days, Net 60 is 50% paid by 30 days and the remaining 50% by day 60, and so on. The ability to collect from a customer declines substantially after 90 days. Some say that you'll lost 60% of your recievables after day 90.
What information does the aging schedule for accounts receivable show that the average collection period may not?
The average collection period only shows how long it takes to collect your credit sales on average. The aging schedule shows your total accounts receivable, and the exact amounts that are owed in each time frame categories.
Why customers buy on credit?
Customers buy on credit for a few reasons, the main one is that at the time of purchase they may not have the required cash for the purchase. Also, customers will buy on credit because it's easier than carrying cash, they can keep their cash on hand and make payments toward the purchase instead of being out the amount of cash at that time.
What is the accounts receivable term for the average time it takes your customers to pay you?
Net
What is the term for the average time it takes customers to pay?
The average time it takes for customers to pay is referred to as Days Sales Outstanding. Computing this ratio lets companies know how fast they are turning sales into cash.
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