Fundera

FEBRUARY 13, 2017

But while there’s a wealth of information out there about tax deductions for business owners in general, when you run your business out of your home, it can be far more challenging to understand how some of those policies apply. If you or your spouse are 65 years or older, you can deduct expenses that exceed 7.5% Finance Deductions.

Deductions 85

Deductions Bad Debt Credit and Collections Small Businesses 85

Your Virtual Credit Manager

APRIL 11, 2023

Subscribe now Ten Reasons Accounts Receivables Under Perform Failure to Conduct Credit Checks: Sometimes newer business are so excited to get an order, they fail to check the new customer’s credit, only to end up selling to a deadbeat and not getting paid. Here’s more on Credit Checks.

Bad Debt 130

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

Your Virtual Credit Manager

JULY 25, 2023

Turning your inventory over faster and your payables slower will add cash to your balance sheet, as will raising capital by selling shares in your company or getting a loan or line of credit. Collection Efficiency Index (CEI) - As your collection process increases in efficiency, the fewer dollars there will be trapped in your AR.

Best Possible DSO (BPDSO) 130

Best Possible DSO (BPDSO) DSO Cash Forecasting Credit and Collections 130

Your Virtual Credit Manager

JANUARY 10, 2023

Photo by Patrick Hendry on Unsplash Although defaults resulting in significant bad debt losses are a rare event for trade creditors, much of the focus of AR Management is on credit risk. Banks make money by lending so they pay close attention to the credit risk of the borrower. What are these barriers?

Credit and Collections 130

Credit and Collections Bad Debt Invoice Disputes Credit Management 130

Your Virtual Credit Manager

SEPTEMBER 19, 2023

Now that you understand that your customer has become a liability, it’s time to review their credit worthiness again so you can make informed choices. Order a new credit report, request updated financial statements, and re-check the references provided when they first applied for credit.

Credit and Collections 130

Credit and Collections Default Bad Debt Credit Risk 130

Gaviti

JUNE 10, 2024

If your business is scaling and expanding into new geographic regions, it may present challenges in collecting receivables. This should include debit and credit cards, local bank transfer, ACH/echeck, wire transfer and electronic funds transfer. Would a robust customer-facing payment portal help you collect receivables faster?

Payment Portals 52

Payment Portals Electronic Funds Transfer Credit and Collections Cash Applicator 52

CreditStrong for Business

JULY 29, 2024

If your credit scores aren’t in good shape, it can be challenging to get access to financing for your small business. Fortunately, there are commercial lenders that offer small business loans with no credit check, and in some cases, it can be what you need to keep your business afloat.

Small Businesses 52

Small Businesses Credit Scoring Credit and Collections Invoice Amount 52

Gaviti

APRIL 18, 2024

As an assessment and diagnostic tool, it’s hard to overstate the importance of your company’s accounts receivable (AR) collections aging report. This report is a valuable tactic to stay on top of cash flow and improve short-term collections forecasting. Cash flow problems usually relate to collection policies or customer behavior.

AR Aging 52

AR Aging Credit and Collections Allowance for Doubtful Accounts Bad Debt 52

Lendio

DECEMBER 14, 2022

Even as a small business owner with no revenue and no credit (or bad personal credit), you might be able to find a startup business loan. Getting A Business Loan With No Credit. When you apply for a business loan, many commercial lenders will review your credit history to get a sense of how you’ve handled debt in the past.

Credit Scoring 98

Credit Scoring Credit and Collections Credit Reporting Agencies Small Businesses 98

Gaviti

JULY 18, 2024

Additionally, it allows accountants to ascertain whether they need to adjust credit strategies. Real estate and tech bubbles, economic recessions, and other black swan events are more likely to occur as more time goes on, and must be factored into your forecast. Credit Management and Monitoring. Lack of historic data.

Cash Forecasting 52

Cash Forecasting DSO Credit and Collections Deductions 52

Gaviti

APRIL 3, 2024

Understanding Days Sales Outstanding Days Sales Outstanding, or DSO , is the average number of days it takes a company to collect revenue from an invoice. Accounting operations managers use DSO to calculate the general ability of a company to collect invoices on time for a specific period (e.g. Automate the collections process.

DSO 52

DSO Days Sales Outstanding Credit and Collections Collection Effectiveness Index 52

Gaviti

DECEMBER 6, 2023

This third party can be responsible for reports such as aging reports, scheduling payment reminders, tracking and collecting overdue invoices, and identifying high-risk customers to avoid extending more credit than they can realistically take on. Depending on the volume of invoices, it could be handled by an individual or a team.

Credit and Collections 52

Credit and Collections Invoice to Cash Deductions Cash Applicator 52

Your Virtual Credit Manager

MARCH 21, 2023

Subscribe now Lessons to Be Learned Looked at from the perspective of somebody responsible for the management of a portfolio of accounts receivable (AR), the events surrounding the SVB collapse present a cautionary tale. Any enterprise extending credit to another business needs to have real treasury expertise.

Accounts Receivable (AR) 130

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

Lendio

APRIL 21, 2023

Note that this tax rate may be reduced by tax credits (such as the R&D credit or certain employment-related credits). Sales Tax Sales tax is collected by sellers based on the price of each sale. Another example is the research and development credit, which provides a tax credit for qualified research expenses.

Small Businesses 96

Small Businesses Deductions Credit and Collections 96

Gaviti

DECEMBER 12, 2023

This may signal that the company’s goods or services are not valuable to customers, that the company is not managed effectively or a difficulty in collecting receivables. It is also a helpful measurement in the following scenarios: In the event you wish to sell your company. What Can Companies Do to Improve Cash Conversion Cycle Times?

Credit and Collections 98

Credit and Collections Invoice to Cash Deductions Cash Applicator 98

Know-It Global

JANUARY 26, 2023

In this instance you are the one responsible for getting your invoice paid and all credit control will be down to you in order to make the repayment. You keep full control of your sales ledger and are responsible for collecting your unpaid invoice to repay your loan. Get paid by invoice with minimum credit terms of 14 days.

Credit and Collections 52

Credit and Collections Deductions Credit Management Small Businesses 52

Lendio

OCTOBER 26, 2023

It is important to point out that the lender’s risk is higher with an unsecured loan since it has no assets to take possession of in the event of a default. Unsecured business line of credit An unsecured business line of credit is a flexible financing solution that your business can rely on multiple times.

Small Businesses 97

Small Businesses Credit Scoring Credit and Collections Default 97

Lendio

MARCH 21, 2023

It’s called equipment breakdown coverage and helps you pay for repairs caused by covered events. Equipment breakdown insurance covers repair costs when certain events occur. When a covered event occurs, you can file a claim to get paid to fix the equipment. What is Equipment Breakdown Coverage?

Deductions 52

Deductions Insurance Companies Credit and Collections Small Businesses 52

Due

MAY 4, 2023

For all Medicare Part B beneficiaries in 2023, the annual deductible will be $226, a $7 decrease from the annual deductible of $233 in 2022. Deductibles and coinsurance are also required for Part B participants. On average, if you wait until 70 to begin collecting Social Security, you will be able to collect more money.

Deductions 115

Deductions Insurance Companies Credit and Collections 115

Gaviti

DECEMBER 5, 2023

Long payment cycles, supply chain shortages and seasonality combined with a reliance on manual processes for collections are just a few factors that propel companies in the transportation and logistics industries to seek a more efficient process for their cash optimization. These challenges include: Manual A/R collections processes.

Average Days Delinquent 52

Average Days Delinquent Collection Effectiveness Index Credit and Collections Days Sales Outstanding 52

Gaviti

DECEMBER 5, 2023

Long payment cycles, supply chain shortages and seasonality combined with a reliance on manual processes for collections are just a few factors that propel companies in the transportation and logistics industries to seek a more efficient process for their cash optimization. These challenges include: Manual A/R collections processes.

Average Days Delinquent 52

Average Days Delinquent Collection Effectiveness Index Credit and Collections Days Sales Outstanding 52

Due

APRIL 10, 2023

According to debt.org , “21% of single people had credit card debt, [compared to] 27% of married couples without children and 36% of married couples with children.” There is no need to worry about the credit situation of a partner. There is no need to worry or stress about another’s credit history when you are single.

Deductions 114

Deductions Credit Scoring Credit and Collections Insurance Companies 114

Eagle Business Credit

OCTOBER 16, 2023

Profit is the surplus money you have after deducting all expenses from your revenue. Accounts Receivable : Promptly collecting payments from customers improves your working capital position. Relationships : Eagle Business Credit provides top notch customer service , with financial experts in every capacity.

Small Businesses 98

Small Businesses Credit and Collections Invoice Collections Invoice Amount 98

Due

JUNE 14, 2023

Collect information about your income, expenses, debts, and assets. Identifying Deductions and Credits ChatGPT can assist you in uncovering potential tax deductions and credits you may be eligible for. It provides protection for you and your loved ones in the face of unexpected events.

Deductions 64

Deductions Credit and Collections Credit Scoring 64

Fundera

MAY 30, 2019

If you operate a partnership, the business has to file Form 1065 , which is an annual information return that shows the income, deductions, gains, and losses from the business’s operations—but the business itself doesn’t pay any income tax. Bank and credit card statements. Small Business Tax Deductions and Credits.

Small Businesses 100

Small Businesses Deductions Credit and Collections 100

Due

APRIL 16, 2024

The best con artists are the ones who know exactly what they’re doing, whether it’s a debt collection, credit card phishing , or imposter scam. At the very least, your file should include a written timeline of events, depending on the nature of the scam. Collect all communication. The reason?

Credit and Collections 52

Credit and Collections Credit Card Companies Debt Collections Transactions 52

Fundera

MARCH 9, 2019

Easier to open a business bank account or credit card. And if your business falls on hard times and goes into debt, your personal property is off-limits to collection agencies. Incorporating your business will provide you with a variety of tax deductions. It’s always best to check with a CPA before claiming any deductions.

Deductions 81

Deductions Credit and Collections Small Businesses 81

Lendio

NOVEMBER 1, 2023

A business line of credit is revolving, so rather than receiving a lump sum, you can access the money as many times as required. If you’ve been in business for more than half a year, are bringing in $50,000 or more in annual revenue, and have a credit score of 600 or higher, consider yourself a prime candidate.

Small Businesses 98

Small Businesses Credit Scoring Credit and Collections Default 98

Fundera

OCTOBER 15, 2018

Credit and debit cards make shopping more convenient for several reasons: Fewer people carry cash these days, some prefer online shopping, and others simply like the ease of use of a credit card. Market reports also show that credit card usage continues to grow in spite of increasing interest rates.

Credit Card Payments 45

Credit Card Payments Credit and Collections Transactions Alternative Payment Methods 45

Fundera

OCTOBER 12, 2016

If you operate a partnership, you’ll have to file an “annual information return” to show the income, deductions, gains, and losses from the business’s operations—but the business itself doesn’t pay any income tax. Bank and credit card statements. Know What You Can Deduct on Your Small Business Taxes. Payroll documents.

Small Businesses 88

Small Businesses Deductions Credit and Collections 88

Due

MAY 11, 2023

Retirement planning begins long before you collect your last paycheck and begin your leisure lifestyle. You can deduct the contributions from your current-year taxes. Tax-deductible catch-up contributions can accelerate your retirement savings if you’re over 50. Make sure you are careful when using credit.

Deductions 52

Deductions Credit and Collections Credit Scoring 52

Due

JANUARY 27, 2023

What’s more, increasing credit card debt and interest rates are contributing to the problem. Credit score. It is also important to maintain a good credit score in order to maintain financial health. Make sure you have a prime credit score. A recession is also on the horizon. The cost of housing has also risen.

Credit Scoring 105

Credit Scoring Credit and Collections Credit Card Companies Default 105

Fundera

JULY 22, 2016

It also means if your business falls on hard times and into debt, your personal property is off-limits to collection agencies. Incorporating your business will provide you with a variety of tax deductions, including deductions for: health insurance, life insurance, and savings on self-employment taxes. Easier to Sell.

Deductions 75

Deductions Credit and Collections Small Businesses 75

Your Virtual Credit Manager

JUNE 13, 2023

Open Credit Terms dominate the Business-to-Business (B2B) marketplace. Photo by Jamie Street on Unsplash There are two types of credit risk that arise from selling on open credit terms: Customers paying beyond terms (past due) reduce your cash flow. Credit availability is shrinking. it just might help them pay you sooner!

Credit and Collections 26

Credit and Collections Bad Debt Default Credit Risk 26

Fundera

JANUARY 22, 2019

Business Credit Blogger. Popular topics include taxable wages, employee paychecks, deductions, and payroll regulations. Business Credit Blogger. Have questions about anything to do with business credit? Business Credit Blogger has the answers you need. Successful events don’t just appear out of thin air.

Small Businesses 75

Small Businesses Credit and Collections Deductions 75

Fundera

DECEMBER 13, 2019

With an EIN, these businesses can collect and pay employees separate from the filer’s social security number, but as a sole proprietor, you have the option to use your SSN just like you would for any other financial transaction that requires it. . It’s harder to get financing and business credit. Fewer Business Fees.

Credit and Collections 71

Credit and Collections Deductions Transactions Small Businesses 71

Fundera

NOVEMBER 3, 2015

Popular topics include taxable wages, employee paychecks, deductions, and payroll regulations. Business Credit Blogger. The blog was so successful it inspired the Business Credit Building System , a nationally recognized program aimed at providing step-by-step instruction to entrepreneurs and business owners. Eventzilla Blog.

Small Businesses 111

Small Businesses Credit and Collections Deductions 111