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Advanced Collections and Negotiation Skills Featuring: Barry J. Elms Americas Business Coach A dynamic full day seminar for Credit Professional sac h This seminar is designed as an interactive and
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Advanced collections refers to the process of collecting payments from customers before the actual delivery of goods or services.
Businesses or individuals who receive advanced payments for goods or services are required to file advanced collections.
Advanced collections can be filled out by documenting the payments received, the products/services to be delivered, and any terms and conditions agreed upon with the customer.
The purpose of advanced collections is to secure payments in advance, mitigate risks of non-payment, and ensure smooth transactions between buyers and sellers.
Information such as the amount of advanced payment, customer details, payment terms, and expected delivery dates must be reported on advanced collections.
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