Encourage the purchasing and payables departments of your customer's organizations to work together to meet the terms of the sale and pay the bills timely in order to maintain a valued relationship. Granting credit entails a certain amount of risk. A good credit manager will systematically take those risks into account. In some cases, a credit manager will incur greater risk in order to lure business to the company. But the most difficult is the balancing act between risk and reward.
Offering dating on all invoice does give a customer more time to pay.
But make sure that the customer understands that payment will be made on a specific future date, and although the arrangement is unsecured and offers the customer more time to assemble funds and make plans to pay the invoice, it is imperative that he lives up to the date agreed upon. Steps should be taken to focus on that time and make sure that that date is not a stepping stone to take additional time. There is absolutely no harm that can accrue from asking for a deposit, and it is unusual that a sales is lost because of such a request. So, for example, if the sale is consummated on the 10th of the month and invoicing is accomplished on the last day of the month, payment is usually not forthcoming until the 30th of the next month, which in effect allows your customer 50 days for payment in this example. A good credit manager balances credit risks against increased sales.