Your Virtual Credit Manager

MARCH 14, 2023

If a company executive is not the primary collector, there is nothing wrong with them giving it a try. A large percentage of past due invoices are caused by up-stream problems in the order-to-cash process. A large percentage of past due invoices are caused by up-stream problems in the order-to-cash process.

Collector 189

Collector Past Due Invoices Bad Debt Credit and Collections 189

Your Virtual Credit Manager

JULY 2, 2024

Being a collector requires patience, persistence, and effective communication skills. When communications break down, past due balances accumulate. That’s why collectors need to be effective communicators. Without effective communication skills, your patience and persistence won’t generate results.

Collector 130

Collector Debt Collections Past Due Invoices Credit and Collections 130

Your Virtual Credit Manager

JANUARY 16, 2024

Here then are eleven mistakes that business debt collectors should avoid: 1. Poor Record Keeping You also need maintain accurate records and documentation of the debt, payments and adjustments. Accurate invoices and follow-up statements of account are essential to the seller and buyer to be aligned with their record keeping.

Debt Collections 130

Debt Collections Collector Credit and Collections Bad Debt 130

Your Virtual Credit Manager

JUNE 4, 2024

Successful collections require the coordination of a variety of activities: timely and accurate invoices and payment posting, monthly statements, email reminders and other dunning notices as well as telephone calls. Of all these items, making the necessary phone calls generates the greatest value in respect to recovering past due invoices.

Collector 130

Collector Credit and Collections Past Due Invoices Credit Management 130

Your Virtual Credit Manager

JULY 16, 2024

Collectors must deal with all sorts of excuses for what is owed not being paid. The best collectors are experts at parrying, or deflecting these excuses and forging ahead with their requests for payment. You want to collect any small partial balances and recently past due invoices as well as the oldeest and largest past due balances.

Collector 100

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

Your Virtual Credit Manager

JANUARY 3, 2023

Share How to Clean Up Your AR Ledger Launch a collection program to collect all past due invoices at least 15 days late. Match as many unapplied payments and unapplied credit memos to open invoices, deductions, and debit memos as possible. Clear from your AR ledger as many of the clutter transactions as possible.

AR Automation 130

AR Automation Collector Credit and Collections Bad Debt 130

Your Virtual Credit Manager

MARCH 5, 2024

If you send an email or text you can attach a copy of their account statement and/or invoice ccopies. On a phone call, you should summarize all amounts past due, such as “you owe $10,000 that is over 30 days past due” or reference one or two large past due invoices (number, amount and due date), but no more.

Past Due Invoices 100

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