The East Carolinian

The East Carolinian sells advertising to fully support the newspaper's operations

Accounts Receivable

Advertisers requesting billing on a net 30 cycle must complete a credit application. Upon approval by the media accountant the account is opened. The invoices are processed after the publication of each issue and payment is expected within 30 days.

Delinquent Accounts and Collections

After approximately 45 days, the advertiser's account is placed on the delinquent account list. The advertiser is contacted by the advertising representative to remind the advertiser that the account is past due. The advertising representatives are involved in the collection process as much as possible to provide them with as much business experience as possible. When the advertiser is placed on the delinquent account list, he may not schedule future advertising until the account is brought current.

A friendly reminder letter is also sent to the advertiser after 45 days to provide written notice that the account is in arrears. Should the advertiser fail to bring the account current within 60 days of billing, the media account sends a second letter explaining that payment should be made in full or that stricter collection measures will be taken.

If the account remains in arrears after 90 days, the account may be placed with the state designated collection agency if the debt is less than $500. If the debt is greater than $500, the amount will be transmitted to the Attorney General's office for collection.

Interest & Penalty Fees

Interest will be charged at the rate established pursuant to state policy on past due accounts receivable from the date it was due until it is paid. A late payment penalty of $5.00 or a fee of no more than ten percent (10%) of the accounts receivable shall be charged on all past due accounts.

Uncollectible Accounts

The uncollected accounts remain on the books at The East Carolinian. After one year of the due date, the debt is written off. If the business has filed bankruptcy, or gone out of business, the debt may be written off at the end of the current fiscal year. The media accountant maintains the list and future charges are not permitted until the old debt is paid in full.

The setoff debt collection act, the state employee debt collection act, and the vendor setoff program will be followed when applicable.

Doubtful Accounts

An allowance of no more than 2% of total ad sales is established for doubtful accounts.