The importance of having the Guidelines for the optimization of the internal control of accounts receivable.

The Venezuelan economy faces many macroeconomic problems, which greatly affects not only consumers, but also merchants and entrepreneurs in general, one of these problems is the rampant hyperinflation that has been going on for several years without being able to stop it.

That is why commercial companies are identified mainly by their sales activity, hence the importance of obtaining more and more customers, so as to increase the volume of sales, therefore, many companies choose to resort to granting credit to their customers, which is a positive practice if the correct control measures of accounts receivable are taken, otherwise, it can mean a problem and lead to bankruptcy to companies.

However, it should be noted that, in spite of using this credit sales strategy to be able to circulate their inventory, the accelerated increase in product prices makes the recovery of inventory a problem for them, because at the time of acquiring new merchandise, prices may be above the selling price, generating economic losses that reduce their working capital.

In this sense, it is necessary to emphasize the need to establish internal control guidelines that provide guidance at the time of selling on credit and the subsequent monitoring of the behavior of accounts receivable, so as to reduce the risk of losses due to not being able to collect debts from customers or late payments.

We can undoubtedly mention that some guidelines could be to reduce the time of the credit days with adjustments if there are defaults of the established dates, as well as the collection in foreign currency to avoid losing purchasing power due to devaluation and discounts for prompt payment which is a significant strategy that allows the return in a short time with a lower profit, but that serves for the inventory turnover and the decrease of accounts receivable.