Gaviti

JANUARY 7, 2025

In certain cases, youll also need to follow up with a past due invoice email. Why Past Due Invoice Emails Are Essential Financial issues, administrative error, and miscommunication of payment terms are the most common reasons businesses fail to pay invoices on time. Manage customer risk.

Past Due Invoices 105

Past Due Invoices Invoice Amount Payment Portals Credit and Collections 105

Your Virtual Credit Manager

MARCH 14, 2023

Collectors spend most of their time asking for payments While it is true collectors are constantly requesting payment of past due balances, once that request is made they end up spending most of their time resolving disputes and invoice discrepancies. For more on collection efficiency, check out this article.

Collector 189

Collector Past Due Invoices Bad Debt Credit and Collections 189

Your Virtual Credit Manager

JANUARY 17, 2023

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

NOVEMBER 1, 2022

Effective collections can also reduce bad debt losses by compensating for a liberal or weak Credit Control function. Simply defined, collections is the process of contacting customers to secure payment for your invoices. For the most part collections deals with past due invoices — those not paid within established terms.

Credit and Collections 130

Credit and Collections Past Due Invoices Bad Debt 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

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? Clean up your AR Ledger In a perfect world, your AR Ledger would contain only whole, current invoices. No seriously past due invoices and no “Clutter.”

Past Due Invoices 130

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

Your Virtual Credit Manager

JANUARY 16, 2024

Having your collection efforts back-stopped by a collection agency provides additional leverage to your efforts to get your customers to pay, avoid bad debt losses and preserve future sales to seriously delinquent customers. For more about working with Collection Agencies, check out this post.

Debt Collections 130

Debt Collections Collector Credit and Collections Bad Debt 130