Your Virtual Credit Manager

OCTOBER 15, 2024

(Photo by Melinda Gimpel on Unsplash ) The American Bankruptcy Institute recently reported that, “The 6,067 total commercial chapter 11 bankruptcies filed during the first nine months of 2024 represented a 36 percent increase over the 4,561 filed during the same period in 2023.”

Chapter 11 130

Chapter 11 Bad Debt Accounts Receivable (AR) Chapter 7 130

Your Virtual Credit Manager

AUGUST 1, 2023

Even though the economic headwinds are moderating, now is not the time to become less vigilant from a customer credit perspective. If you are extending credit to business customers, prudence dictates that you be prepared to deal with customer bankruptcies. Right now there are nearly a million new businesses beating the odds.

Bankruptcy 130

Bankruptcy Chapter 11 Chapter 7 Bad Debt 130

Your Virtual Credit Manager

AUGUST 11, 2024

Chapter 11 filings, used by businesses hoping to reorganize, have increased by 34 percent in the first six months of 2024 compared to last year. Chapter 7 commercial liquidation filings are up 28 percent and sub-chapter V small business elections are up a staggering 61 percent despite the filing threshold recently being cut in half.

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Sub-Chapter V Bankruptcy Credit and Collections Chapter 11 100

Fundera

AUGUST 26, 2018

Business credit cards are essential financing tools for both new and established business owners alike. When you’re just beginning, they can be your main financing lifeline and how you build your business credit. Without careful use, though, you could spend faster than you can pay, and need to recover from business credit card debt.

Chapter 11 65

Chapter 11 Bankruptcy Chapter 7 Credit Card Companies 65

Lendio

JULY 31, 2023

Tip: While most major banks connect seamlessly with most major accounting software products, you may want to double-check that this is the case if you’re banking with a smaller institution like a local credit union. In every journal entry, one or more accounts are debited, and one or more accounts are credited.

Small Businesses 52

Small Businesses Chapter 11 Chapter 7 Transactions 52

Lendio

MAY 23, 2023

Bookkeeping is the collection of data from various sources and entering it into your company’s accounting system—but there’s more to it than just data entry. Chapter 4: Accounts Receivable Learn how to record accounts receivable. Chapter 5: Accounts Payable Learn how to record accounts payable. What Is Bookkeeping?

Small Businesses 52

Small Businesses Chapter 11 Chapter 7 Credit and Collections 52