Your Virtual Credit Manager

JANUARY 16, 2024

If you sell on open credit terms, you need to plan on having to expend time and resources collecting from those customers that don’t pay when due. No matter how much effort you put into evaluating customer credit, some customers will not live up to your expectations. You need to be doing the right things.

Debt Collections 130

Debt Collections Collector Credit and Collections Bad Debt 130

SAP Credit Management

JANUARY 6, 2023

Based on the collected information do some exercise in SAP HANA, express edition environment. Where to find documentations in SAP Help Portal? Which other documentation is important regarding SAP HANA partitioning? Reason of the Article. There is huge knowledge available belongs to SAP HANA partitioning.

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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. A Cautionary Tale… As a corporate credit manager, I periodically was tasked with other finance department activities.

Collector 130

Collector Credit and Collections Past Due Invoices Credit Management 130

SAP Credit Management

AUGUST 14, 2023

If you have to setup SAP Document Management Service (DMS), Integration Option in connection of S/4HANA Public Cloud connecting an external repository – this blog-post will summarize steps to archieve a solution. With this tool you are able to check on your external repository what files / documents are transferred.

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SAP Credit Management

FEBRUARY 10, 2023

The SAP Document and Reporting Compliance, inbound invoicing option for Brazil team has released a new feature that enables you to send NF-e ICMS extension events to SEFAZ. Feel free to leave your questions on the SAP Document and Reporting Compliance SAP Community and read similar blog posts on the SAP Document and Reporting Compliance.

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Your Virtual Credit Manager

NOVEMBER 21, 2023

For most small businesses, collections are reactive. In the meantime, routine collections are driven by passive activities, often just a monthly statement. While statements provide a history of invoice, credit, debit and payment activity on an account, dunning notices focus on past due balances.

Credit and Collections 130

Credit and Collections Past Due Invoices Small Businesses Credit Management 130

Your Virtual Credit Manager

OCTOBER 22, 2024

When we first think about credit risk, our minds focus on the financial status of the company in question. To manage the risk that a customer might default, companies implement credit and collection policies and procedures. Falsifying documents is another way criminals perpetrate frauds.

Past Due Invoices 130

Past Due Invoices Credit and Collections Credit Card Payments Default 130

Your Virtual Credit Manager

JANUARY 30, 2024

The evolution of Accounts Receivables (AR) automation has revolutionized our collection strategies. Manual collection processes centered on an aged accounts receivable trial balance (ARTB) lack the regimentation and efficiency brought about by automation. For a more in depth discussion of systematic collections, click here.

Credit and Collections 130

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

Your Virtual Credit Manager

DECEMBER 13, 2022

Photo by Icons8 Team on Unsplash Commercial collections is not unlike convincing somebody to buy something, but people with that talent tend to go into Sales. For most people, however, collecting B2B debts is an acquired skill. Those of us who have spent our careers in credit and collections, fell into the profession.

Collector 130

Collector Credit and Collections Past Due Invoices Credit Management 130

Your Virtual Credit Manager

DECEMBER 26, 2023

In our case, we found our readers had an affinity for articles on identifying collection risks and the best ways of dealing with past due balances. Hopefully, these insights will help you with your collection efforts Not a subscriber … why don’t you take advantage of a YVCM subscription?

Collector 130

Collector Credit and Collections Default Third Party Collections 130

Your Virtual Credit Manager

OCTOBER 8, 2024

Companies selling other businesses on open terms need to ensure any collection agency partners can effectively collect non-performing receivables. Here are four prime example of issues that impede third party collections: 1. Doing this involves taking a series of proactive steps.

Third Party Collections 100

Third Party Collections Credit and Collections Bankruptcy Bad Debt 100

Your Virtual Credit Manager

MARCH 19, 2024

If all your customers paid promptly — by the time the invoice was due — you would not need to do any collection work. Collections is a reactive process. The amount of collection activity with which you are tasked is directly proportional to your customers’ payment habits.

Bulk Transfer 100

Bulk Transfer Credit and Collections Bankruptcy Third Party Collections 100

SAP Credit Management

AUGUST 10, 2023

You know those cases where the release strategy is not being triggered in purchasing documents, or it is being triggered but not correctly or as you expect? Well, many of these issues are caused due to incorrect values in the documents for the characteristics defined in customizing. b) Change the net price value in the PO.

Transactions 146

Transactions 146

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. It's essential, however, for everybody to recognize that credit decisions also have broader implications across various aspects of company operations.

Accounts Receivable (AR) 130

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

SAP Credit Management

JANUARY 30, 2023

I would like to show you, how external collected requirements can be uploaded into SAP Focused Build by using the requirements import function. So it can happen that the system set up and the collection of the requirements need to run in parallel. This function was designed to bring requirements from one system into another.

Transactions 137

Transactions 137

Your Virtual Credit Manager

JANUARY 31, 2023

Some of the reasons for paying slow are more serious than others, but they all impact your cash flow and your collection efforts. There are several keys to effective past due collections and they start with your order-to-cash process. Do that and you eliminate a lot of potential collection issues.

Credit and Collections 246

Credit and Collections Bankruptcy Past Due Invoices Order to Cash 246

Gaviti

NOVEMBER 21, 2024

This mindset often leads to underinvestment in collections efforts, and when budget cuts are necessary, accounting departments like collections are typically the first affected. However, maintaining a steady cash flow is essential for business survival, and efficient collections directly impact the bottom line.

Automated Cash Application 98

Automated Cash Application Credit and Collections Cash Applicator Deductions 98

Gaviti

JANUARY 6, 2025

Managing accounts receivable can be challenging, but having a structured approach to writing collection reminders can make a significant difference. Having a defined plan will help you to act systematically in order to collect your receivables in a timely manner. Other customers might want to be able to send electronic payments.

Credit and Collections 92

Credit and Collections Days Sales Outstanding Invoice to Cash Invoice Amount 92

Your Virtual Credit Manager

FEBRUARY 7, 2023

Looking around us, the Amazons, Netflixes, and HubSpots of the world were billing and charging clients automatically, while our business’s billing and collections looked pretty much the same as it had been done before computers. Getting paid can be a pain. Why not share this newsletter with your small business customers?

AR Automation 130

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

SAP Credit Management

FEBRUARY 10, 2023

In this blog post, you can find the latest collection of new capabilities in SAP S/4HANA Cloud, public edition, and SAP S/4HANA Cloud, private edition, in the area of Environment, Health, and Safety (EHS). Thanks for reading this blog post. Stay tuned!

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Your Virtual Credit Manager

MARCH 5, 2024

Finding the time and resources to accomplish all the collection activities required to do a good job is a constant challenge. Most small companies come up short because when there isn’t a dedicated employee responsible for credit and collections, the owner or CFO have more important things to do.

Past Due Invoices 100

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

Your Virtual Credit Manager

NOVEMBER 14, 2023

Credit Policy is an inextricable part of a company’s Sales Policy. If you choose to sell on open credit, the terms you offer are in effect part of the price. If you discuss credit terms with a competitor, you are in violation of anti-trust statutes forbidding price fixing. What’s Right for Your Firm?

Credit Sales 130

Credit Sales Bad Debt Credit and Collections Credit Risk 130

Your Virtual Credit Manager

JUNE 6, 2023

People who are new to business collections are inclined to fall into one of several patterns. Seldom does a new collector appreciate the need for a balanced, holistic approach to debt collections. In time, as they become more familiar with the process of collecting, their productivity increases.

Debt Collections 100

Debt Collections Collector Credit and Collections Default 100

SAP Credit Management

JANUARY 16, 2023

Documentation Library. Where to find documentations in SAP Help Portal? 2718597 – Collection solutions for some big growth tables relevant to HANA DB. Which other documentation is important in context of monitoring SAP HANA persistence? First/initial Release of the SAP Blog Post documentation (Technical Article).

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Your Virtual Credit Manager

NOVEMBER 7, 2023

If their collection efforts are more aggressive than yours, the customer will tend to pay your competitor sooner, while you end up waiting for this mutual customer to accumulate additional funds to pay you. They are an important reason for formulating credit and collection policies and procedures, but not every lapse is an act of commission.

Collector 100

Collector Credit and Collections Credit Management Small Businesses 100

SAP Credit Management

JULY 28, 2023

This blog provides a comprehensive collection of APIs for Journal Entries. Find the links to the latest business documents for both SAP S/4HANA Cloud and SAP S/4HANA. Whether you are using SAP S/4HANA Cloud or SAP S/4HANA, this blog will equip you with all the necessary resources to effectively utilize and troubleshoot our API.

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Enterprise Recovery

DECEMBER 6, 2024

B2B debt collection requires an understanding of effective strategies to mitigate delinquent accounts. This process involves implementing proactive measures so businesses can avoid issues such as unclear credit policies, inadequate communication, and poor documentation practices.

Debt Collections 85

Debt Collections Credit and Collections 85

Gaviti

JUNE 19, 2023

Effective communication is the most critical aspect of any A/R collections strategy. Standardized templates lead to documentation, which makes it easier for staff to handle work disruptions, such as unexpected resignations. Even so, there are some basics you can apply across most templates you may use for collections.

Days Sales Outstanding 98

Days Sales Outstanding Credit and Collections Payment Portals DSO 98

SAP Credit Management

SEPTEMBER 19, 2023

Read on to find out how its core capabilities, Contract Accounting and Convergent Invoicing, plus integration with SAP Document and Reporting Compliance, can help you with everything from tax calculation and compliance, billing and invoicing, through to statutory reporting and payment collection.

Transactions 193

Transactions 193

Credit Management Group UK

JUNE 16, 2024

Throughout my years in commercial credit management, I have identified several mistakes that companies make within their order to cash process; mistakes that are often very small and easily fixed; make enough of them, however, and you could find your cash flow isn’t flowing the way you would like it to.

Credit Management 99

Credit Management Credit and Collections Order to Cash Credit Risk 99

Your Virtual Credit Manager

JUNE 18, 2024

That’s why it is standard to ask on a credit applications the year in which the business was formed. Years in business is a critical factor in the assessment of credit risk along with number of employees, which can be a good proxy for sales volume, something private businesses are not always willing to disclose.

Bad Debt 100

Bad Debt Credit and Collections Credit Risk Credit Card Companies 100

Abrigo

APRIL 22, 2024

Recent dynamics of the small business lending market A deep understanding of the small business lending landscape and potential efficiencies can help banks and credit unions grow their portfolios. Dynamic market Small business lending by banks & credit unions Small businesses are a pillar of the U.S.

Credit Unions 97

Credit Unions Small Businesses Credit and Collections Credit Risk 97

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? Who performs the Credit & Collection activities — you or the finance company? Your Virtual Credit Manager is a reader-supported publication.

Past Due Invoices 130

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

SAP Credit Management

SEPTEMBER 26, 2023

The invoices will be made in the company code 9012 and 9015 and the collective payment will be made from the company code 9000. We have made the changes for all the 4 documents in both the company codes which can been seen in the status. Now checking the clearing account ledger in FBL3N for company code 9000 of same above document.

Credit and Collections 187

Credit and Collections Transactions 187

Know-It Global

JUNE 20, 2023

Credit control is a vital aspect of financial management for businesses. It involves managing credit sales and making informed credit decisions, ensuring timely payment from customers, and minimising bad debt. Setting Up Credit Control Processes 1.1 This is where business credit checking comes into play.

Bad Debt 19

Bad Debt Credit and Collections Debt Collections Credit Risk 19

Your Virtual Credit Manager

DECEMBER 19, 2023

Hopefully, that is why you are reading Your Virtual Credit Manager. If, however, there are unpaid invoices that have been allowed to go beyond the 90 day mark, you have a serious collection problem. In most cases (90 percent or more), we find the customer has a valid claim and deserves a credit.

DSO 130

DSO Third Party Collections Credit and Collections Deductions 130

Your Virtual Credit Manager

JULY 30, 2024

If they are wrong, significant effort over an extended time is typically required to prove they are wrong and collect the money owed. The collection rate of the remaining 5 percent is often less than half. please take advantage of our July Sale to lock in a subscription to Your Virtual Credit Manager for just $34.99

Deductions 130

Deductions Credit and Collections Invoice Amount Credit Management 130