New bank account for business, how to answer the question “How will you process your receivables?”? February 17, 2010
Posted by Banking in : Small Business , trackback
I am setting up a new bank account for my new business and the bank manager wants to know “how will you process your receivables?”.
How do I answer this question?Submited by:ccartertn2002
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I think By Receivables they mean “Accounts Receivable” or the money owed to you by customers. Not all businesses operate credit terms but those that do either manage the AR themselves, use a third party or using some factoring services.