If you are a business operator, you know well the caliber of your customers or new encounter customers. And there maybe a time when one or two customers want to buy some products through credit. Will you say yes impulsively or retreat the idea to let those customers purchase on credit. Well, you can approve their request, however let them deposit post dated checks for an assurance of payment refusal from them means cancellation of their request. You never know their real motives. But it's all up to you to allow or not to allow.
Buy on credit
- Thread starter Starmix
- Start date
The longer we run the business, the more experienced we will become and we will recognize several customer characteristics. When they ask for credit purchases, of course we have rules, especially the credit limit (the highest limit that can be given as a receivable account for each customer).
I do not think I will be able to buy or sell on credit if I become a business owner. No matter how close a relationship I have with my customers, it will still be a risk to take. In the future, it may cause a problem for me.
I think the best thing is to avoid credit sales altogether. It always dampens relationship. It is better you gift than sell on credit.
