Abrigo

SEPTEMBER 13, 2022

How to balance AML priorities Transaction monitoring is a critical component of a strong BSA program and a risk-based approach will allow for the best use of valuable resources. . Takeaway 2 Regulatory guidance shows that transaction monitoring is not one-size-fits-all. Transaction monitoring: a BSA/AML cornerstone.

Transactions 78

Transactions Credit Unions Credit and Collections 78

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

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

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

Your Virtual Credit Manager

SEPTEMBER 10, 2024

To optimize the order-to-cash (O2C) process, it's crucial to understand the significant role Credit and Collections plays. Photo by Jay Heike on Unsplash ) What happens during the O2C process, however, apart from credit and collection activities, can have an outsized impact on cash flow and AR performance.

Credit and Collections 130

Credit and Collections DSO Deductions Accounts Receivable (AR) 130

MNS Credit Management Group

SEPTEMBER 24, 2023

In addition to giving solicitors instructions to start legal proceedings, we also offer credit management services including sending letters of demand prior to legal action, a service that looks into a company’s history, credit reports, and status reports. When a client owes a business money, consumer collections take place.

Debt Collections 52

Debt Collections Credit and Collections Collector Credit Management 52

SAP Credit Management

AUGUST 28, 2023

Interest Calculation Tax authorities may have to calculate and post credit/debit interests on payables/receivables. The calculation of interest is scheduled on a recurrent basis (yearly, monthly, weekly, and sometimes even daily) and interest documents are then posted (manually or in mass activity) according to the rules set in customizing.

Credit and Collections 138

Credit and Collections Transactions 138

CreditStrong for Business

SEPTEMBER 4, 2024

Fixing your credit might seem complicated, but it’s actually a simple process. Not to mention, working with a credit repair company can be expensive. Don’t drop hundreds of dollars on credit repair if you don’t have to. Recent credit score statistics show that 54% of people never check their credit.

Credit Scoring 52

Credit Scoring Credit and Collections Credit Reporting Agencies Credit Application 52

Emagia

JULY 12, 2023

Point of Sale (POS) transactions have revolutionized the way businesses conducts their sales and interact with customers. In a rapidly evolving digital landscape, POS transaction serves as the pivotal link between the buyer and the seller, facilitating seamless and secure payment processes. What is POS (Point of Sale) Transaction?

Transactions 52

Transactions Credit and Collections 52

CreditStrong for Business

AUGUST 27, 2024

If a consumer has an unpaid debt on an existing credit account, the original lender will eventually close the account and charge off the bad debt. Generally, these debts are reported to the credit bureaus and remain as a negative entry on your credit history for seven years. How Long Does It Stay on My Credit Report For?

Collector 52

Collector Credit Reporting Agencies Credit Scoring Third Party Collections 52

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

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. Transaction code FBZP In all company code box enter the relevant details. VENDOR INVOICE TRANSACTION After doing the necessary configuration. END OF DOCUMENT Save the configuration.

Credit and Collections 187

Credit and Collections Transactions 187

CreditStrong for Business

SEPTEMBER 12, 2024

Public records usually appear on your credit report as the result of a financial disaster. Evictions, foreclosures, bankruptcies, and judgments are terrible news for your credit. Each one of these affects your credit reports and scores differently. What Do Public Records Mean on a Credit Report?

Chapter 7 52

Chapter 7 Credit Reporting Agencies Bankruptcy Credit and Collections 52

Eastern Credit Management Services

DECEMBER 4, 2023

In the intricate world of debt recovery, success is not just measured by dollars collected but also by the relationships built along the way. At Eastern Credit Management Services, based in the heart of Atlantic Canada, we understand that communication, choice, and control are the pillars of a successful collections strategy.

Credit and Collections 52

Credit and Collections Credit Management Transactions 52

Abrigo

MARCH 24, 2023

Best practices for your BSA/AML risk assessment Learn top tips for creating a risk assessment to capture your credit union's risk. READ Takeaway 1 Documentation is one of the most critical aspects of performing a risk assessment. A credit union must understand its risk profile to create a risk-based AML/CFT program.

Credit Unions 78

Credit Unions Cybersecurity Credit and Collections Transactions 78

Due

APRIL 24, 2023

The versatility of credit cards in terms of acceptance and rewards makes them a preferred payment method for millions. After all, credit cards were introduced to ease up your payments and, thereby, your lifestyle, right? However, nobody wants to be an unfortunate victim of a credit card scam. billion through fraud.

Credit and Collections 111

Credit and Collections Transactions 111

Sky Business Credit

MAY 2, 2023

May 1, 2023 – Sky Business Credit announced the promotion of Beverly Milici to Vice President of Operations. She will continue to ensure clients are receiving the highest possible level of credit and collections service. In this role, she assisted the President in underwriting and credit approval of new business.

Credit and Collections 98

Credit and Collections Transactions 98

SAP Credit Management

FEBRUARY 10, 2023

In all the API calls, there is a variable called doctype which identifies the type of Financial Transaction you are working with. The complete Financial Integration Service documentation can be found here. To help you understand Financial Integration Service APIs, I developed the following Postman collection as an example.

Bulk Transfer 134

Bulk Transfer Transactions 134

TreviPay

MARCH 20, 2023

Credit management is integral to accounts receivable management. Good credit management supports consistent cash flow, smooth payment collections, customer satisfaction, and much else. Getting B2B credit management right can make a huge difference to a company’s success and growth… What is credit management?

B2B Credit 52

B2B Credit Credit Management Credit and Collections Days Sales Outstanding 52

SAP Credit Management

JULY 10, 2023

Intrastat is a statistical reporting system used in the European Union (EU) to collect information on the movement of goods between EU member states. Under Intrastat, businesses must report specific details about their cross-border transactions, including the commodity code, value, quantity, and partner country of the goods traded.

Credit and Collections 111

Credit and Collections Default Transactions 111

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

Emagia

JUNE 21, 2024

With the rapid advancement of digital technology, businesses can no longer afford the inefficiencies of slow credit applications, validations, and approvals. Empowering the credit team with intelligent Order-to-Cash (OTC) digital solutions is essential. Conducting reference checks online instead of through paper applications.

B2B Credit 40

B2B Credit Credit Application Digital Credit Application Credit and Collections 40

TreviPay

MARCH 13, 2023

In the business-to-business (B2B) world , order and transaction values can be large. Thankfully, there are things a business can do to mitigate the impact – including debit notes and credit notes. Thankfully, there are things a business can do to mitigate the impact – including debit notes and credit notes.

Credit and Collections 52

Credit and Collections Transactions Order to Cash 52

RMAi Blog

SEPTEMBER 13, 2024

On September 5, 2024 the CFPB issued its annual Fair Debt Collection Practices Act report. The report stated that the CFPB received approximately 109,900 debt collection complaints in 2023. The number one complaint type was “attempts to collect debt not owed.”

Collector 130

Collector Law Firms Credit and Collections Debt Collections 130

SAP Credit Management

JULY 27, 2023

This blog contains selected highlights from SAP Financial Compliance Management, SAP Document and Reporting Compliance, and tax-related enhancements for Indirect Taxation Abroad (RITA) along with their business benefits and deep-dive system demos. In addition, you can centrally review the findings and initiate corrections.

Dashboards 141

Dashboards Transactions 141

SAP Credit Management

AUGUST 11, 2023

The operator remits venture expenses, collects revenues, and distributes these to the partners, according to their ownership shares. Replication functionality for the internal Joint Venture Accounting documents posted by several Joint Venture Accounting month-end processes.

Transactions 127

Transactions 127

TreviPay

OCTOBER 30, 2024

For B2B customers, applying cash to a specific invoice or transaction is crucial for on-time payments. Applying cash using the first-in-first-out, or FIFO, methodology doesn’t work for most customers and will create reconciliation challenges when collecting from them. A successful order-to-cash (O2C) process will end with a payment.

Cash Applicator 102

Cash Applicator Credit and Collections Short Pay Order to Cash 102

SAP Credit Management

FEBRUARY 6, 2023

Leverage Group Reporting’s existing abilities to manage and orchestrate global data collection processes for currencies, quantities, and texts for ESG scenario.

Transactions 142

Transactions 142

SAP Credit Management

JANUARY 25, 2023

They contain the journal entries for all business transactions that are posted to them. Leverage Group Reporting’s existing abilities to manage and orchestrate global data collection processes for currencies, quantities, and texts for ESG scenario. This means that you can use, 13 posting periods and 3 special periods, for example.

Revenue Recognition 166

Revenue Recognition Credit and Collections Transactions 166

TreviPay

SEPTEMBER 18, 2024

Trade credit insurance has become a vital tool for businesses looking to protect themselves from the risk of non-payment by customers. Trade credit insurance, also known as accounts receivable insurance, safeguards businesses from significant losses. This guide to trade credit insurance will help you navigate the complexities of it.

Bad Debt 52

Bad Debt Default Credit and Collections Collector 52

CreditStrong for Business

AUGUST 23, 2024

Small business owners looking for a way to finance and organize purchases will want to know how to get a business credit card. In addition to having the application information ready in advance, you’ll want to know how both personal credit and business credit scores are considered for approval. Why do they ask this?

Credit Scoring 52

Credit Scoring Credit and Collections Credit Reporting Agencies Small Businesses 52

JSP Credit Management

JUNE 27, 2022

For instance, our very first exposure to debt collection was only made possible by the kind of supervision from a more experienced debt collector that would be more akin to a guardian attentively watching over a new-born baby for fear of anything going wrong. Enter, new mentors and new skills. Did the fundamentals still ring true?

Debt Collections 52

Debt Collections Credit and Collections Collector Credit Management 52

Your Virtual Credit Manager

APRIL 4, 2023

Supporting profitable sales through the extension of credit Collecting as much of the AR generated as possible by or near the due date to ensure a substantial cash inflow Mitigating the risk of bad debt losses These tasks are best accomplished in a tidy environment. What constitutes optimization of a company’s AR?

Past Due Invoices 100

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

Abrigo

MAY 30, 2023

Timelines for small business loan data collection and reporting Deadlines for complying with the new CFPB section 1071 rule requirements for financial institutions to collect data on small business loan activities. Takeaway 3 The earliest deadline requires financial institutions to begin collecting data Oct.

Credit Unions 78

Credit Unions Credit and Collections Transactions Small Businesses 78

SAP Credit Management

FEBRUARY 1, 2023

SD Intercompany Billing (report RVPKMASS96, “Collective Processing of Resource-Related Billing”). You collect a set of reports with the same input parameters in one folder. For the latest information, you can refer to the product documentation on the SAP Help Portal. This can be achieved as follows.

Transactions 149

Transactions 149

Emagia

NOVEMBER 21, 2023

Most recently that meant talking with a group of leaders in the B2B credit industry as part of NACM South Central’s annual “Day at the Races” event in Louisville, KY. AI can also improve security by detecting fraudulent transactions in real-time and reducing false positives to enhance user trust. The short version is: yes.

Days Sales Outstanding 52

Days Sales Outstanding DSO Credit and Collections B2B Credit 52

SAP Credit Management

JANUARY 13, 2023

Also, you can perform different types of restatements, which require a change in master data, transaction data, or configuration. To support restatement and simulation, you can now: Store values in local currency, transaction currency, and quantity in extension and extension versions for group currency. Master data and configuration.

Transactions 184

Transactions 184