This report shows every fully paid sale within the selected date range and computes the days it took before it was paid in full. It then computes the average number of days for each customer.
This report helps you separate late payers from prompt payers. To cure chronically late payers use either a “carrot” or a “stick”. The carrot approach offers them a prompt-payment discount. The stick approach slaps them with late fees. The choice is yours, but remember, good cash flow is critical to maintaining a healthy business.