Your Virtual Credit Manager

MAY 23, 2023

Incidentally, the higher your gross margin, the more latitude you have in extending credit to marginally risky accounts. Any subsequent collection expenses and bad debt write-offs are more easily recouped through additional sales than if your gross margins are low. it just might help them pay you sooner!

Bad Debt 49

Bad Debt Credit and Collections Deductions Credit Risk 49

Your Virtual Credit Manager

MAY 14, 2024

If conditions are satisfactory and all your credit and collection assignments have been completed, you can then address the many other tasks and challenges requiring your attention. Do you need help collecting past due receivables or understanding your customer portfolio risks? Why Are Metrics Needed if You Have an AR Ledger?

AR Metrics 130

AR Metrics DSO Credit and Collections Accounts Receivable (AR) 130

Your Virtual Credit Manager

SEPTEMBER 13, 2022

Photo by Jp Valery on Unsplash Payment deductions, also known as chargebacks or short pays, happen when the customer pays less than the full invoice amount. They occur because a customer does not receive your product or service as ordered, or feels the invoice is incorrect. Well, it’s not.

Deductions 130

Deductions Credit and Collections DSO Accounts Receivable (AR) 130

Gaviti

OCTOBER 13, 2024

If your business could proactively identify the risk of potential customers before taking them on as new customers and avoid bad debt, wouldn’t you want to do that? Predictive AI capabilities in many modern B2B collections software now let businesses do exactly this while solving many other challenges in the B2B collections process.

Credit and Collections 59

Credit and Collections Automated Cash Application Bad Debt Collections Automation 59

Fundera

DECEMBER 29, 2019

There are a number of ways to remove uncollectible invoice amounts from your accounting books. In this article, we’ll look at the best ways to write off an invoice in QuickBooks. Reasons to Write off an Invoice. There are a couple of reasons why you might want to write off an invoice in QuickBooks : Bad debt.

Bad Debt 52

Bad Debt Credit and Collections Default Invoice Amount 52

Lendio

NOVEMBER 13, 2023

Selling accounts receivable (aka factoring) is a financial strategy where a business sells its outstanding invoices or accounts receivable to a third-party company, referred to as a ‘factor’ The factor pays the business a significant portion of the amount due up front, then proceeds to collect the full amount from the indebted customer.

Credit and Collections 52

Credit and Collections Accounts Receivable (AR) Credit Scoring Invoice Amount 52

Eagle Business Credit

FEBRUARY 27, 2024

Establish clear credit terms. Conduct credit checks on new customers. Credit reporting agency reports like the ones produced by Dun & Bradstreet or Experian are expensive, but so can a large bad debt, so paying for one of these reports can be a good investment in the long run, but make sure you understand what it is telling you.

Credit Reporting Agencies 40

Credit Reporting Agencies Credit and Collections Bad Debt Invoice Amount 40