Your Virtual Credit Manager

FEBRUARY 4, 2025

In most companies, sales are given a strong priority over the risk of slow payments and bad debts regardless of gross margins and the resources the credit and collection function can provide to mitigate risk. Learn More About Credit Reports Please share this newsletter with your small business customers. Share Read more

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Credit and Collections Accounts Receivable (AR) Invoice Disputes Bad Debt 130

Your Virtual Credit Manager

MAY 23, 2023

Any subsequent collection expenses and bad debt write-offs are more easily recouped through additional sales than if your gross margins are low. Problematic customers, or debtors if you will, are much less profitable and more likely to cause a bad debt loss. The issue with problematic customers is profit dilution.

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Bad Debt Credit and Collections Deductions Invoice Amount 49

Your Virtual Credit Manager

APRIL 1, 2025

Learn More About Consulting Readers of Your Virtual Credit Manager can access sharply discounted business credit reports from D&B, Experian, or Equifax through our partner accredit. Learn More About Credit Reports Please share this newsletter with your small business customers.

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Credit and Collections Sales Tax Exemptions Accounts Receivable (AR) Collector 130

Your Virtual Credit Manager

JANUARY 7, 2025

Learn More About Consulting Readers of Your Virtual Credit Manager can access sharply discounted business credit reports from D&B, Experian, and Equifax through our partner accredit. Learn More About Credit Reports Please share this newsletter with your small business customers.

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Days Sales Outstanding DSO Credit and Collections Accounts Receivable (AR) 130

Your Virtual Credit Manager

DECEMBER 31, 2024

Learn More About Consulting Readers of Your Virtual Credit Manager can access sharply discounted business credit reports from D&B, Experian, and Equifax through our partner accredit. Learn More About Credit Reports Please share this newsletter with your small business customers.

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Collector Credit and Collections Bad Debt High-Risk Accounts 130

Your Virtual Credit Manager

FEBRUARY 18, 2025

(Photo by Markus Spiske on Unsplash ) When there are time constraints that forestall additional research, denying credit or requiring collateral or some other security is the best way to avoid a decision that results in delinquency and a potential bad debt loss. it just might help them collect faster and pay you sooner.

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Credit Application Credit and Collections Bad Debt High-Risk Accounts 130

Eastern Credit Management Services

NOVEMBER 13, 2019

As a small business owner, I am sure that you understand the importance of managing your cash flow, but are you doing your best when it comes to managing your overdue accounts receivable ? Unfortunately, many small business owners are not. All small businesses want to reduce their risk of overdue accounts receivable.

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Bad Debt Small Businesses Credit Reporting Agencies Credit Application 52

Your Virtual Credit Manager

JANUARY 17, 2023

Photo by Alex Radelich on Unsplash When small businesses add customers and increase sales, their company’s Accounts Receivable (AR) will grow. it just might help them pay you sooner! it just might help them pay you sooner! Share A Case in Point A parts distributor was having difficulty with collections and high dispute volumes.

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

Your Virtual Credit Manager

MARCH 14, 2023

Please feel free to share this newsletter with your small business customers. You also need to be requesting payment from any customer that has placed a new order and is past due beyond a small grace period. it just might help them pay you sooner! For more on collection efficiency, check out this article.

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Collector Past Due Invoices Bad Debt Credit and Collections 189

Your Virtual Credit Manager

JANUARY 2, 2024

If collections are not done properly and in an adequate frequency , your AR will age, cash flow will decrease, and the risk of bad debt loss will increase. Please feel free to share this newsletter with your small business customers. The cash flow and bad debt benefits will usually outweigh the potential lost revenue.

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

Your Virtual Credit Manager

OCTOBER 17, 2023

Not being paid in full or in part causes a bad debt loss. The first step is to estimate how much bad debt loss you can absorb as a percentage of sales in a year. Conversely, if the profit margin is low, bad debt losses will have a much greater impact, and credit controls will have to be tighter.

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

Hilton Baird

SEPTEMBER 23, 2024

A look at the pros and cons of writing off aged debts, the options businesses have at this stage, as well as how bad debt relief can impact businesses. The post Copy of Navigating aged debts: The pros and cons of writing off bad debt appeared first on Hilton-Baird Collection Services.

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Bad Debt Small Businesses 52

Hilton Baird

APRIL 8, 2024

A look at the pros and cons of writing off aged debts, the options businesses have at this stage, as well as how bad debt relief can impact businesses. The post Navigating aged debts: The pros and cons of writing off bad debt appeared first on Hilton-Baird Collection Services.

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Bad Debt Small Businesses 52

Your Virtual Credit Manager

OCTOBER 31, 2023

Simply put, if customers have weak financials or a history of late payments or defaults, there is an elevated risk of bad debt. That does not mean you will be able to avoid all bad debt losses due to business failures, but rather be able to minimize them. it just might help them pay you sooner!

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Bad Debt Credit and Collections Accounts Receivable (AR) Credit Risk 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.

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Credit Sales Bad Debt Credit and Collections Credit Risk 130

Your Virtual Credit Manager

JUNE 25, 2024

A growing volume of receivables overdue by more than 90 days indicates you are having severe challenges collecting payments before then, posing a significant risk of write-offs or bad debts. The experts at Your Virtual Credit Manager are currently offering 33% off our standard small business consulting rates.

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Bad Debt Credit and Collections Days Sales Outstanding DSO 130

Your Virtual Credit Manager

APRIL 18, 2023

Photo by Chris Montgomery on Unsplash For small enterprises, however, a “wide range of tasks” is usually the norm for its limited staff. So, how can a small business acquire high level functional expertise with its “Jack of all trades” workforce, especially in regard to managing the Accounts Receivable (AR) asset?

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Bad Debt Credit and Collections Third Party Collections Accounts Receivable (AR) 130

Your Virtual Credit Manager

FEBRUARY 27, 2024

For a small business owner or executive, navigating credit decisions can be challenging, especially when they clash with the goals of other stakeholders within the company. Please feel free to share this newsletter with your small business customers. it just might help them pay you sooner!

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Accounts Receivable (AR) Bad Debt Days Sales Outstanding Credit and Collections 130

Your Virtual Credit Manager

SEPTEMBER 5, 2023

Subscribe now Impact of Offering Discounts From the seller’s perspective, the effect on revenue from offering an early pay discount needs to be weighed against the potential reduction in Accounts Receivable (AR) carrying costs, bad debt and collection expenses. it just might help them pay you sooner!

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Your Virtual Credit Manager

FEBRUARY 13, 2024

Following the sharp but short Covid Recession, roughly 5 million small businesses closed shop in the first six months after the economic shutdown, but commercial bankruptcies did not begin increasing until May of 2023, ostensibly due to the government’s economic stimulus programs. it just might help them pay you sooner!

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

Your Virtual Credit Manager

SEPTEMBER 3, 2024

Over the next eight months: DSO was reduced from 63 to 41 days $61 million in AR was converted to CA$H Bad debt expense was reduced by $2.2 Learn More About Consulting Readers of Your Virtual Credit Manager can access sharply discounted business credit reports from D&B, Experian, or Equifax through our partner accredit.

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Accounts Receivable (AR) Days Sales Outstanding DSO Credit and Collections 130

Your Virtual Credit Manager

JUNE 18, 2024

A small, new account can become one of your top customers in a few years, and a key contributor to the growth you seek. Photo by Muhammad Daudy on Unsplash ) The problem with startup companies: there is a high probability they will fail , leaving you with a bad debt on your books. Think about it.

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Bad Debt Credit and Collections Credit Risk Credit Card Companies 100

Fundera

OCTOBER 26, 2019

21 Small Business Tax Deductions. Business property rent. Business entertainment. For small business owners, there are few sweeter phrases than “small business tax deductions.” What Is a Small Business Tax Deduction? How to Claim Small Business Tax Deductions.

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Deductions Small Businesses Bad Debt Credit Sales 64

Your Virtual Credit Manager

JANUARY 23, 2024

Furthermore, new businesses and small businesses tend to have high failure rates, and there is good reason to believe a wave of defaults is coming. We are currently offering 33 percent off our standard small business consulting rates. Please feel free to share this newsletter with your small business customers.

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Credit Application Bad Debt Bankruptcy Credit Scoring 130

Your Virtual Credit Manager

AUGUST 6, 2024

The goal is not preventing bad debt losses but rather maximizing profits. If you should try to eliminate all bad debt losses, chances are you will forego sales to customers that will eventually pay. On the one hand, controlling bad debt and delinquency losses is critical.

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Bad Debt Credit and Collections Accounts Receivable (AR) Credit Risk 100

Your Virtual Credit Manager

OCTOBER 15, 2024

As a consequence, commercial accounts receivable (AR) portfolios are at an increasing risk of suffering bad debt losses. The immediate precursor to bad debts is increasing percentages of delinquent receivables, especially in the over 60 and 90 day aging categories. Commensurate with that, the Federal Reserve Bank of St.

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Chapter 11 Bad Debt Bankruptcy Accounts Receivable (AR) 100

Your Virtual Credit Manager

APRIL 11, 2023

Late or inconsistent follow-up on overdue accounts leads to longer payment cycles and increased bad debt write-offs. To avoid this, businesses should employ proven tactics in their collection strategies, including regular phone calls, emails or collection letters, and escalation of the matter when the debtor is not responsive.

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Bad Debt Credit and Collections Accounts Receivable (AR) Days Sales Outstanding 130

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. The task is twofold: Optimizing cash inflows (and avoiding bad debt) confined by the number of requests for payment that can be made within a specified time period. it just might help them pay you sooner!

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

Your Virtual Credit Manager

FEBRUARY 28, 2023

The reduction in revenue and margin, while painful, will be a smaller price to pay than a large drop in incoming cash and the higher risk of a larger, damaging, bad debt. Please feel free to share this newsletter with your small business customers. it just might help them pay you sooner! What do you need help doing?

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Bad Debt Accounts Receivable (AR) Credit Risk Bankruptcy 130

Your Virtual Credit Manager

AUGUST 1, 2023

Please feel free to share this newsletter with your small business customers. Absorb the impact up front and be done with it. Forecasting recovery is difficult and it will be an accounting issue you’ll need to revisit every quarter. it just might help them pay you sooner! Most of the time filing a bankruptcy claim is routine.

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Bankruptcy Chapter 11 Chapter 7 Bad Debt 130

Your Virtual Credit Manager

AUGUST 29, 2023

Please feel free to share this newsletter with your small business customers. Bad Debt Write-Offs Are Increasing: When bad debts get ahead of budget, you need to take a look at why that is happening. it just might help them pay you sooner! Then multiply the answer by 100 to get a percentage.

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DSO Credit and Collections Bad Debt Collection Effectiveness Index 130

Your Virtual Credit Manager

JANUARY 16, 2024

We are currently offering 33 percent off our standard small business consulting rates. Failure to Document All Communications Whenever there is a phone conversation or correspondence regarding a debt, even if not yet past due, it needs to be documented. What do you need help doing? Learn More About YVCM Consulting 4.

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Debt Collections Collector Credit and Collections Bad Debt 130

Chaser

OCTOBER 16, 2023

Three years later… While a bad debt is incredibly frustrating in our personal lives, overdue payments in business can be crippling. These outstanding amounts in business are known as Accounts Receivable. They can quickly get out of hand and impact your financial health if not managed correctly.

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Bad Debt Small Businesses Debt Collections 98

Your Virtual Credit Manager

DECEMBER 6, 2022

Under-performing AR has the potential to create a cash flow crisis that can shut down your business in very short order. Cash Flow is the number one cause of small business bankruptcies. Please feel free to share this newsletter with your small business customers. it just might help them pay you sooner!

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DSO Credit and Collections Bad Debt AR Aging 130

Your Virtual Credit Manager

JUNE 20, 2023

Small businesses are under a lot of pressure. It is therefore no surprise that small business owners’ top economic concerns are inflation, recession, commodity prices, the U.S. As economic headwinds build, business leaders tend to batten down the hatches by cutting cost and minimizing risk.

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Credit Risk Bad Debt Credit and Collections AR Aging 20

Your Virtual Credit Manager

FEBRUARY 20, 2024

We are currently offering 33 percent off our standard small business consulting rates. This can distort the overall picture of accounts receivable performance, especially if these customers are significant to the business. A company may have a low DSO but still face significant losses due to bad debts.

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DSO Days Sales Outstanding Credit and Collections Accounts Receivable (AR) 130

Your Virtual Credit Manager

JANUARY 3, 2023

Please share this newsletter with your small business customers. During 1995, DSO was reduced by an additional 10 percent, and bad-debt write-offs cut in half. it just might help them pay you sooner! Share How to Clean Up Your AR Ledger Launch a collection program to collect all past due invoices at least 15 days late.

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