**Best Practices for Maintaining Accounts Receivable**

1. **Establish Clear Credit Policies**
Define and communicate credit terms clearly to customers before engaging in business. Ensure that terms include payment deadlines, interest rates on overdue payments, and acceptable payment methods.

2. **Regularly Review Aging Reports**
Monitor aging reports frequently to identify overdue accounts. Prioritize follow-up actions for older receivables and adjust credit policies if recurring delays are noticed.

3. **Implement Automated Invoicing**
Use accounting software to automate the invoicing process. This ensures timely and consistent delivery of invoices and reduces the risk of human error.

4. **Maintain Efficient Follow-Up Procedures**
Develop a structured system for following up on overdue payments. This may include reminder emails, phone calls, and escalation measures, such as involving a collections agency if necessary.

5. **Perform Regular Reconciliations**
Regularly reconcile accounts receivable with the general ledger to ensure accuracy. Address discrepancies promptly to maintain accurate financial records.