When can I use House Accounts

What are House Accounts? House accounts by definition are accounts that the merchant advances credit to the customer then the customer pays the merchant at a specific time or when a specific balance is reached.

People always ask " Are House Accounts still used?" My response is more than you think. There are many advantages of using House Account and also many applications they can be used. Lets go through a few and you can think about your business and see if it will be advantageous for you to extend this service to your customers.

Advantages:

• No Interest for your customer

• Relationship, Bonding with your customer

• Status at your business - perfect for restaurants

• Members

• Speed of Service

• Owners of Business can use House account to track their usage

• Increase Spending

Disadvantages:

• Collecting Payment

There are many advantages and disadvantages of using House accounts. See if House accounts should be used at your business