Your Virtual Credit Manager

OCTOBER 29, 2024

On a phone call, you should provide a summary of the amount past due, such as “$10,000 over 30 days past due” or reference one or two large past due invoices (number, amount, and due date), but no more. The key issue is securing a commitment to pay the past due invoices.

Past Due Invoices 100

Past Due Invoices Credit and Collections Collector Default 100

Your Virtual Credit Manager

JANUARY 17, 2023

Readers of Your Virtual Credit Manager now have access to sharply discounted business credit reports from D&B, Experian, or Equifax through our partner Accredit. Buy Credit Reports But, On the Other Hand. it just might help them pay you sooner! it just might help them pay you sooner!

Credit and Collections 246

Credit and Collections Accounts Receivable (AR) Days Sales Outstanding Past Due Invoices 246

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. Your Virtual Credit Manager is a reader-supported publication.

Past Due Invoices 130

Past Due Invoices Credit and Collections Credit Card Payments Default 130

Your Virtual Credit Manager

OCTOBER 2, 2024

Your Virtual Credit Manager is a reader-supported publication. Do you need help assessing your customers’ credit risks? The experts at Your Virtual Credit Manager have default risk probabilities and other financial benchmarks for analyzing your AR portfolio and revealing actionable insights.

Past Due Invoices 130

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

Your Virtual Credit Manager

JULY 2, 2024

Hopefully, that gets you past the emotions so you can have a rational discussion about getting paid Habitual debtors repeatedly default on promises and usually have a history of slow payment and defaults. These account provide a serious credit risk, and should not be approved for open credit terms.

Collector 130

Collector Debt Collections Past Due Invoices Credit and Collections 130

Your Virtual Credit Manager

SEPTEMBER 10, 2024

Pricing Problems: A supplier of medical devices implemented a new ERP system, but flaws in the pricing application caused it to frequently default to list price (nearly every accounts had exceptions), thereby generating hundreds of incorrect invoices. Customers refused to pay as billed, frequently demanding corrected invoices.

Credit and Collections 130

Credit and Collections DSO Deductions Accounts Receivable (AR) 130

Your Virtual Credit Manager

NOVEMBER 1, 2022

Effective collections can also reduce bad debt losses by compensating for a liberal or weak Credit Control function. Simply defined, collections is the process of contacting customers to secure payment for your invoices. For the most part collections deals with past due invoices — those not paid within established terms.

Credit and Collections 130

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