Terms and Conditions
Ensuring you have up to date terms and conditions which are specific to your business practises are crucial. They must also include a default clause so that costs of debt collection can be added to the debt. This will give you an edge over other suppliers for payment. Consider your business has consequences for not paying on time i.e. the consequences for not paying your Telstra account by the due date or you may offer a discount for paying other bills on time.