Collect

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Revision as of 19:10, 4 September 2022 by imported>Doug Williamson (Create page. Sources: Linked pages.)
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1. Cash management.

To obtain value for receivables through the banking system.


2. Tax - tax authorities.

To ensure the remittance of tax liabilities to the tax authority.

For example, through a pay as you earn system of payroll taxes.


3. Credit control - accounts receivable.

To obtain payment from a customer.

For example, under invoice discounting, the supplier will normally collect the invoice.


4. Credit control - other claims.

To obtain payment in respect of any claim.

For example, a first lien places the lien holder first in line to collect payment from the sale of the collateral in the event of a default on the debt.


5. Organisation.

To assemble and organise information - or anything else - in a systematic way.


See also