Your Virtual Credit Manager

JANUARY 17, 2023

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!

Credit and Collections 246

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

Your Virtual Credit Manager

OCTOBER 2, 2024

Who absorbs any potential bad debt loss — does the lender have recourse to return the AR if they cannot collect it versus a non-recourse arrangement? If you charged shipping costs, but your agreement is to bill a “delivered” price, the customer will deduct the freight from the face amount of the invoice.

Past Due Invoices 130

Past Due Invoices Credit and Collections Deductions Accounts Receivable (AR) 130

Your Virtual Credit Manager

NOVEMBER 14, 2023

It affects the level of bad debt loss (uncollected Accounts Receivables) you suffer. Selling only to financially strong customers reduces the risk of bad debt loss, (and the cost of Credit and Collections activity required). The increased risk of a significant bad debt loss that your firm bears.

Credit Sales 130

Credit Sales Bad Debt Credit and Collections Credit Risk 130

Your Virtual Credit Manager

SEPTEMBER 10, 2024

High Deduction Volumes: Consumer goods manufacturers and distributors, and in particular those selling to chain stores, often incur high volumes of payment deductions. Investigating and resolving deductions alone is much too costly. How much time is dedicated to collections versus payment deduction/dispute resolution?

Credit and Collections 130

Credit and Collections DSO Deductions Accounts Receivable (AR) 130

Your Virtual Credit Manager

JANUARY 3, 2023

What’s Involved in “Cleaning” an AR Portfolio In a perfect world, your AR Ledger would contain only whole, current invoices; or at least nothing seriously past due. Share How to Clean Up Your AR Ledger Launch a collection program to collect all past due invoices at least 15 days late.

AR Automation 130

AR Automation Collector Credit and Collections Bad Debt 130

Your Virtual Credit Manager

APRIL 4, 2023

Supporting profitable sales through the extension of credit Collecting as much of the AR generated as possible by or near the due date to ensure a substantial cash inflow Mitigating the risk of bad debt losses These tasks are best accomplished in a tidy environment. Reconciling items over 6 months old can be very time consuming.

Past Due Invoices 100

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

Your Virtual Credit Manager

JANUARY 21, 2025

For example: When off-schedule pricing is not clearly communicated to the billing function, customer disputes, often in the form of payment deductions, cause partial payments, delays in payment, increased administrative costs involved in resolving the problems, and diminished customer satisfaction.

Order to Cash 130

Order to Cash Credit and Collections Bad Debt Accounts Receivable (AR) 130