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How Are Your Customers Doing?

Your Virtual Credit Manager

Based on this industry outlook, there was staff performing collections and deduction resolution, but no credit function. This company was fortunate to avoid significant bad debt loss until Ames Department Stores, Kmart, and Fleming Foods (a distributor) all filed bankruptcy within the same year.

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Storm Warning: Private Company Red Flags

Your Virtual Credit Manager

The Customer Delinquency Challenge Successful accounts receivable (AR) management involves minimizing past due balances to ensure steady cash in-flows and limit bad debt losses. Customer defaults can be devastating , especially when they cause a substantial bad debt loss.

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Eight Signs a Customer Is Becoming a Problem Debtor

Your Virtual Credit Manager

Any subsequent collection expenses and bad debt write-offs are more easily recouped through additional sales than if your gross margins are low. If a customer regularly pays late, constantly takes payment deductions, generates a high return volume, or constantly raises disputes, your net profits will be negatively affected.

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5 Accounts Receivable Collection Mistakes You Should Avoid

Gaviti

Disputes and deduction. Categorize deductions to gain insight into recurring issues, identify root causes, and take proactive measures to minimize future deductions. Get real-time credit risk alerts about customers with increased credit risk to minimize the impact on your cash flow and reduce the likelihood of bad debt.

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Sales Commissions Impact the Collection Process

Your Virtual Credit Manager

There was a lot of gnashing of teeth on the part of the sales team at the beginning, but invoice accuracy improved in each subsequent month as sales began transmitting accurate pricing and terms to order processing, thereby reducing downstream disputes and payment deductions. it just might help them pay you sooner!

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The Definitive List of 35 Home Business Tax Deductions

Fundera

But while there’s a wealth of information out there about tax deductions for business owners in general, when you run your business out of your home, it can be far more challenging to understand how some of those policies apply. If you or your spouse are 65 years or older, you can deduct expenses that exceed 7.5% Finance Deductions.

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How CFOs Can Benefit from Emagia Autonomous Finance Platform for Accounts Receivable Automation

Emagia

Autonomous Finance Capabilities: Enables intelligent self-driving end-to-end processes for accounts receivable operations including credit management, billing, invoicing, collections, deductions, cash application, cash flow forecasting and treasury management.

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