This is another tough point for every manufacturer in India.
Some customers always pay you late.
When they give you the PO, they promise 30 days.
And when it comes to payment, they delay… delay…. It may go to 60 days, or even 90 days.
Finsys has a report that you can use to know how much you lost due to each one of them.
Actual, exact calculation.
We have an idea for you
- Interest calculation
- For delayed payment – from customer
- Rate of interest in master
- Delay from committed date vs actual date of receipt.
Use this during your next Purchase order negotiation
You may also send this with a click to him with each payment reminder letter