Letters of Inquiry regarding Financial Status and Collection Letters — SPCC STD 11 Commerce — Question

After completion of credit period the collection letter shouldbe written immediately. If their is delay in writing collection letter many times the customer forget about that business transaction and many letters might have to be written to remind him for the same. Morever the delay in collection will also mean the shortage of funds in business for a longer period. If there is more delay in collection of dues then it becomes difficult to find accounting entries from the l?ooks of accounts. Thus, collection letters should be written timely before customer forgets about the transection, and each collection letters should mention referance of the transaction.