Your Virtual Credit Manager

MARCH 4, 2025

Based on this industry outlook, there was staff performing collections and deduction resolution, but no credit function. New accounts were evaluated, but there were very few of those in any given year. There is no good reason to sell to risky accounts on open terms when you can replace those sales by selling low-risk accounts.

Bad Debt 130

Bad Debt Credit and Collections Accounts Receivable (AR) Collector 130

Your Virtual Credit Manager

JANUARY 17, 2023

Photo by Alex Radelich on Unsplash When small businesses add customers and increase sales, their company’s Accounts Receivable (AR) will grow. Again, you need to also keep in mind the impact from putting other tasks on a back burner. These benefits will only increase as a company experiences sales growth.

Credit and Collections 246

Credit and Collections Accounts Receivable (AR) Days Sales Outstanding Past Due Invoices 246

Your Virtual Credit Manager

JUNE 27, 2023

No two are alike, but they do tend to fall into some common groupings. Identifying the groupings within your customer accounts receivable (AR) portfolio enables you to deal with them all more effectively and efficiently. Firms that take a lot of payment deductions can fall into this category.

Collector 26

Collector Credit and Collections High-Risk Accounts Accounts Receivable (AR) 26

Your Virtual Credit Manager

JULY 16, 2024

Once an order has been approved and fulfilled, the primary objective in terms of Accounts Receivable (AR) management is getting paid. Collectors must deal with all sorts of excuses for what is owed not being paid. Some customers will always pay on time. Collections becomes more challenging when the customer objects.

Collector 100

Collector Accounts Receivable (AR) Past Due Invoices Credit and Collections 100

Your Virtual Credit Manager

JANUARY 9, 2024

Two weeks ago we recapped the three most read articles from 2023: identifying red flags, understanding why customers pay late, and the secrets of successful collectors. From a credit management perspective, these are largely reactive topics. Then last week we looked at credit hold best practices. There is nothing wrong with that.

Credit and Collections 130

Credit and Collections AR Aging Accounts Receivable (AR) Deductions 130

Your Virtual Credit Manager

SEPTEMBER 26, 2023

Your accounts receivable (AR) and cash balances as of December 31, 2023, are very important numbers. Share First, Clean Out the Garbage During the course of a year, your AR will accumulate partially paid invoices, payments that have not been applied or that have been misapplied, debit memos, and credit memos.

Credit and Collections 147

Credit and Collections Accounts Receivable (AR) Deductions Collector 147

Your Virtual Credit Manager

APRIL 18, 2023

So, how can a small business acquire high level functional expertise with its “Jack of all trades” workforce, especially in regard to managing the Accounts Receivable (AR) asset? Even so, if you are heavily selling big box retailers, they may be able to help you, especially if you have a backlog.

Bad Debt 130

Bad Debt Credit and Collections Third Party Collections Accounts Receivable (AR) 130