3 Unclaimed Property Reporting Best Practices

As states ramp up unclaimed property audits, broaden the definition of unclaimed property, and shorten dormancy periods, it's more critical than ever for AR and credit pros to implement best practices like the following: 1. Create a reporting manual. 2. Perform due diligence. 3. Let records age...

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Bibliographic Details
Published in:Managing Credit, Receivables & Collections Receivables & Collections, 2012-07, Vol.12 (7), p.13
Main Author: Herring, Danielle
Format: Article
Language:English
Subjects:
Accounts receivable
Best practice
Compliance
Due diligence
Escheat laws
Guidelines
Software services
Online Access:Get full text
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Summary:As states ramp up unclaimed property audits, broaden the definition of unclaimed property, and shorten dormancy periods, it's more critical than ever for AR and credit pros to implement best practices like the following: 1. Create a reporting manual. 2. Perform due diligence. 3. Let records age.