Many firms use lock boxes serviced by local depository banks in an attempt to reduce collection float. Likewise, an increasing number of large firms use controlled disbursing to pay their bills, in order to increase and control their disbursement float. Almost all the literature treats the lock...

The purpose of this paper is to present an integrated model of accounts receivable. The model incorporates the major components of credit and collection policies such as the cash discount, credit period and charges for late payments. It considers the investment in accounts receivable, losses...

A lack of synchronization between cash inflows and outflows presents the problem of investing positive net flows and financing negative net flows. In addition to the basic investment-financing issue there are other interrelated problems such as the payment schedule and the minimal cash balance...