Know-It Global

APRIL 26, 2023

As a business owner, it’s essential to understand and manage credit risk to maintain a healthy cash flow and avoid financial losses. Credit risk is the potential for a borrower to fail to repay a loan or credit extended to them. When you sign up for a free Know-it account you’ll also get a free business credit report!

Credit Risk 98

Credit Risk Bad Debt Credit and Collections Default 98

Your Virtual Credit Manager

SEPTEMBER 5, 2023

Starting in October, free subscribers will only receive the introductory section of our weekly articles. Plus, you get full access to our growing archive of over 100 articles! Assuming the supplier has a line of credit, the longer a customer delays payment the more interest the supplier has to pay the financial institution.

Bad Debt 130

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

Your Virtual Credit Manager

SEPTEMBER 12, 2023

Processing Delays There are several AR activities that often take longer than they should and therefore cause delays: processing credit applications, approving orders, generating invoices, and posting payments. Credit evaluations, however, often take time. Plus, you get full access to our growing archive of over 100 articles!

Credit and Collections 130

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

Know-It Global

JULY 5, 2023

Maintaining a healthy cashflow through credit control is crucial for the long-term success and sustainability of any enterprise, especially against the backdrop of soaring insolvencies and record instances of late payment. One effective strategy for achieving this goal is to implement a robust credit control system.

Bad Debt 52

Bad Debt Credit and Collections Debt Collections Credit Risk 52

Gaviti

OCTOBER 30, 2023

In this article, we explore the advantages of autonomous finance, especially as it relates to accounts receivable, and at what point your company should consider employing them, so you can decide if it’s a worthwhile investment for your business. What are the Benefits of Autonomous Finance in A/R Collections?

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Days Sales Outstanding Invoice Collections Credit and Collections DSO 75

Your Virtual Credit Manager

JANUARY 3, 2023

Photo by DESIGNECOLOGIST on Unsplash Editor’s Note: To start off the New Year, we’re bringing back three of the most popular YVCM articles from 2023. We’ve condensed the articles to save you time, but have also provided links to the originals should you want to take a deeper dive. Update your customer master file.

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AR Automation Collector Credit and Collections Bad Debt 130

Know-It Global

MAY 8, 2023

As a business owner, it’s essential to understand and manage credit risk to maintain a healthy cash flow and avoid financial losses. Credit risk is the potential for a borrower to fail to repay a loan or credit extended to them. When you sign up for a free Know-it account you’ll also get a free business credit report!

Credit Risk 52

Credit Risk Bad Debt Credit and Collections Default 52

Know-It Global

MAY 8, 2023

As a business owner, it’s essential to understand and manage credit risk to maintain a healthy cash flow and avoid financial losses. Credit risk is the potential for a borrower to fail to repay a loan or credit extended to them. When you sign up for a free Know-it account you’ll also get a free business credit report!

Credit Risk 52

Credit Risk Bad Debt Credit and Collections Default 52

Your Virtual Credit Manager

DECEMBER 6, 2022

If your sales are consummated via payment at the point of sale, which may involve “pay with order” or “pay on delivery” protocols involving a credit card or an online e-payment product, managing Accounts Receivable (AR) will not be big issue for you. The company ended up writing off millions of dollars in bad debt.

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DSO Credit and Collections Bad Debt AR Aging 130

Your Virtual Credit Manager

AUGUST 22, 2023

The bad news is that nearly 21 percent of last year’s startups will fail this year leaving you with a bad debt on your books if you sold to them on credit terms. This is why age is an extremely important consideration when extending credit. The good news is that this is an increase in potential customers.

Credit and Collections 130

Credit and Collections Bad Debt Credit Risk Small Businesses 130

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. Then last week we looked at credit hold best practices. From a credit management perspective, these are largely reactive topics.

Credit and Collections 130

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

MNS Credit Management Group

DECEMBER 2, 2022

Many businesses that owe money to creditors use debt collectors, who work for a fee or a portion of the total amount collected. Some debt collectors are also debt purchasers; these businesses buy debt below its face value and then make an effort to collect the entire amount owed. Key Takeaways.

Debt Collections 52

Debt Collections Collector Credit and Collections Bad Debt 52

Know-It Global

MAY 8, 2023

As a business owner, it’s essential to understand and manage credit risk to maintain a healthy cash flow and avoid financial losses. Credit risk is the potential for a borrower to fail to repay a loan or credit extended to them. When you sign up for a free Know-it account you’ll also get a free business credit report!

Bad Debt 52

Bad Debt Credit and Collections Credit Risk Default 52

RevCycle

JULY 6, 2021

The following excerpt is from a recent Forbes article : “ According to interviews AccessOne conducted with 47 healthcare billing executives, 43% of providers reported increases in patient requests for payment plans even as hospitals face their own financial struggles, and 40% report an increase in bad debt.

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Bad Debt Payment Portals Credit and Collections Default 130

Know-It Global

APRIL 19, 2023

Supply chains threatened by soaring insolvencies Recent data has revealed the average bad debt for UK SMEs is £16,641, a spike of 61% in a year! Bad debts If the insolvent company owes you money, you may not be able to recover the debt, or you may only receive a fraction of what you are owed.

Bad Debt 98

Bad Debt Credit and Collections Credit Risk Credit Management 98

Know-It Global

JUNE 5, 2023

Effective credit control is crucial for maintaining a healthy cashflow and financial stability. By implementing a well-structured credit control process, businesses can mitigate the risks associated with late payments and bad debts, ensuring a steady stream of revenue.

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Electronic Funds Transfer Bad Debt Credit and Collections Credit Management 52

Your Virtual Credit Manager

SEPTEMBER 19, 2023

Starting in October, free subscribers will only receive the introductory section of our weekly articles. Plus, you will get full access to our growing archive of over 100 articles! Now that you understand that your customer has become a liability, it’s time to review their credit worthiness again so you can make informed choices.

Credit and Collections 130

Credit and Collections Default Bad Debt Credit Risk 130

apruve

NOVEMBER 14, 2022

Extending trade credit to small and medium-sized businesses (SMBs) can be a smart decision for enterprise organizations that want to increase growth. However, managing a high volume of frequent payments manually hasn’t been easy – until trade credit automation platforms emerged in the market. Benefits of Trade Credit Automation.

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Bad Debt Credit and Collections Transactions Default 52

Know-It Global

JUNE 14, 2023

Offering trade credit can bring a huge boost to your business! One effective strategy that accomplishes both goals is offering trade credit. This is an arrangement where businesses extend credit to their customers, allowing them to purchase goods or services and pay at a later date.

Credit and Collections 52

Credit and Collections Bad Debt Credit Risk Default 52

Know-It Global

JUNE 28, 2023

In today’s fast-paced and interconnected world, credit control has become a vital aspect of financial management for businesses. Traditionally, credit management involved manual processes and relied heavily on human intervention, which often proved time-consuming and prone to errors. Check out this short demo to see how-it works!

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Credit Scoring Credit and Collections Bad Debt Credit Management 52

Know-It Global

MAY 8, 2023

As a business owner, it’s essential to understand and manage credit risk to maintain a healthy cash flow and avoid financial losses. Credit risk is the potential for a borrower to fail to repay a loan or credit extended to them. When you sign up for a free Know-it account you’ll also get a free business credit report!

Bad Debt 52

Bad Debt Credit and Collections Credit Risk Default 52

Know-It Global

JULY 26, 2023

In this article, we’ll outline 15 actionable steps that can help you significantly reduce debtor days and optimise your cashflow! Evaluate and improve your credit terms Begin by assessing your current credit terms and ensure they are reasonable and aligned with industry standards. Struggling for time?

Electronic Funds Transfer 98

Electronic Funds Transfer Credit and Collections Debt Collections Bad Debt 98

Grit

MAY 26, 2024

This article explores the benefits of B2B accounts receivable automation and its key features and demonstrates why it’s time to say goodbye to manual work. Faster Payment Cycles Automated accounts receivable systems streamline the invoicing and payment collection processes, resulting in faster payment cycles.

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Collection Effectiveness Index Days Sales Outstanding Credit and Collections Bad Debt 90

JSP Credit Management

APRIL 28, 2022

That same benefit led us to , an article in the FT the other day from 2010 where former Chancellor of the Exchequer George Osborne was talking about the Financial Services Authority (FSA). That, we thought, was a genuinely nice benefit, to having been a product of university life. We will get that changed!

Debt Collections 52

Debt Collections Bad Debt Credit Management Credit Risk 52

Gaviti

APRIL 24, 2023

Poor Vetting Process for New Customers When you extend credit, you must do so because you can reasonably expect to get paid that money eventually. Failure to properly vet customers opens the door to delayed payments, bad debts, court battles, and worse. Standard options include money orders, checks, ACH, credit cards, and cash.

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Credit and Collections Bad Debt 95

Fundera

DECEMBER 29, 2019

In this article, we’ll look at the best ways to write off an invoice in QuickBooks. There are a couple of reasons why you might want to write off an invoice in QuickBooks : Bad debt. This could result in you remitting sales taxes you never actually collected. How to Write off a Bad Debt Invoice in QuickBooks.

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Bad Debt Credit and Collections Default Invoice Amount 52

JSP Credit Management

OCTOBER 10, 2021

A recent article suggested that the ‘gig economy’, consisting of apps such as Uber and Airbnb employs no fewer than 1 in 10 working adults in the UK. Whilst there can be found some criticisms, the above article notes that the amount of people earning an income from these apps has doubled in recent years. That is approximately 4.7

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Collector Debt Collections Credit and Collections Bad Debt 52

Eagle Business Credit

JUNE 20, 2024

For B2B businesses, financial management involves several specific considerations, including managing cash flow, understanding credit terms, and leveraging financial tools to optimize business performance. Understanding and managing these credit terms is vital for maintaining healthy cash flow and minimizing financial risk.

Small Businesses 52

Small Businesses Credit and Collections Bad Debt Credit Management 52

JSP Credit Management

SEPTEMBER 28, 2021

So a career in various credit management roles before JSP Credit Management being born of over 15 years has left us extremely well placed to pass comment on some potential causal factors affecting non-payment. However, we are not just here to slap commission rates on provisioned debts for companies and set about recovering it for them.

Credit and Collections 52

Credit and Collections Collector Bad Debt Debt Collections 52

Your Virtual Credit Manager

JUNE 13, 2023

Open Credit Terms dominate the Business-to-Business (B2B) marketplace. Photo by Jamie Street on Unsplash There are two types of credit risk that arise from selling on open credit terms: Customers paying beyond terms (past due) reduce your cash flow. These bad debt losses can put your own business at risk of failure.

Credit and Collections 26

Credit and Collections Bad Debt Default Credit Risk 26

Fundera

AUGUST 2, 2017

Rather than providing articles like a typical blog, his site includes accounting tutorials and extensive Q&A about each topic, along with practice quizzes and puzzles to reinforce your knowledge. Who it’s for : Anyone struggling to learn accounting concepts such as debits and credits or accrual vs cash basis accounting.

Bad Debt 75

Bad Debt Credit and Collections Small Businesses Transactions 75

Fundera

MARCH 2, 2020

In this article, we’ll take a close look at adjusting entries for accounting purposes, how they are made, what they impact, and how to minimize their impact on your financial statements. . Every transaction in your bookkeeping consists of a debit and a credit. Does this mean your books aren’t as accurate as you thought?

Credit and Collections 68

Credit and Collections Small Businesses Bad Debt Transactions 68