Due

NOVEMBER 13, 2024

A Wisconsin pizza parlor has been fined for underage workers cleaning meat grinders, cleaning hot ovens, and working overtime. The Department of Labor found that Ironbluebear Inc. (Ironblubear), operator of Pizza Parlor, must pay $99,882 in civil money penalties for violating child labor standards. Federal labor laws are strict about the hours young employees can work and the situations in which they can be placed.

97

97

Abrigo

NOVEMBER 13, 2024

This article covers these key topics: Debt-service coverage ratios are steady. Leveraged has improved since 2019. Businesses' working capital cycles are longer. Interest coverage ratios have stayed strong. How lenders can leverage this data. Bank and credit union leaders can use data to inform small business lending Small businesses are showing resilience.

Small Businesses 78

Small Businesses Credit Unions Credit Risk Accounting Firms 78

Accounting Department

NOVEMBER 13, 2024

Opting for outsourced client accounting services can significantly conserve time and resources for your business. Nevertheless, locating a reliable outsourcing partner can be difficult. But how can you be sure you’re choosing an outsourced accounting service you can trust? A few characteristics of trustworthy, competent, and reliable accounting services will help you know the provider you chose is the right one.

82

82

Collenda

NOVEMBER 13, 2024

Aryza Expands Partnership with GoCardless to Enhance Payment Solutions Aryza Group, a leading provider of financial software solutions, announces the expansion of its partnership with GoCardless , a global bank payment company. This collaboration transforms the existing technology relationship into a comprehensive partnership that includes an introducer agreement across all Aryza platforms globally.

Transactions 64

Transactions 64

Chaser

NOVEMBER 13, 2024

Thrilled to share that Chaser has been shortlisted for the Supplier of the Year award at the 2025 CICM British Credit Awards, an accolade that celebrates the most impactful providers in credit management technology.

Credit Management 64

Credit Management 64

Know-It Global

NOVEMBER 13, 2024

As a business owner or finance professional, one of the most frustrating situations you can encounter is a customer who refuses to pay their invoice. Whether it’s due to cash flow issues, a dispute over the goods or services provided, or just plain unwillingness to settle, unpaid invoices can significantly impact your business’s cash flow and bottom line.

Debt Collections 59

Debt Collections Credit and Collections Bankruptcy 59

Eastern Credit Management Services

NOVEMBER 13, 2024

Choosing the right debt collection agency is a crucial decision for businesses looking to recover outstanding payments efficiently and professionally. Here’s a guide on what to consider to ensure you’re selecting a reputable agency that meets your needs in Atlantic Canada. 1. Look for Industry Certifications and Memberships A reliable debt collection agency should have recognized certifications that demonstrate its adherence to industry standards.

Debt Collections 52

Debt Collections Credit and Collections Credit Management 52

Due

NOVEMBER 13, 2024

The Justice Department and four Attorneys General have blocked UnitedHealth Group Incorporated’s $3.3 billion acquisition of Amedisys Inc. The Attorneys General of Maryland, Illinois, New Jersey, and New York joined the blockade alongside the legal watchdog of the United States government, saying that the deal threatens to “negatively affect care for vulnerable patients and harm home health and hospice nurses critical to providing that care.

Transactions 52

Transactions 52

Plooto

NOVEMBER 13, 2024

Financial technology can make life easier for you and your accountant. But do you know how much of an impact NOT adopting fintech can have on your business?

52

52

Emagia

NOVEMBER 13, 2024

What is Cash Forecasting? Forecasting cash is the process of estimating future cash flows to ensure a business has adequate funds. This process is crucial for budgeting, planning, and maintaining liquidity. Importance of Forecasting Cash Effective forecasting cash enables businesses to anticipate cash needs, preventing shortfalls and improving decision-making.

Cash Forecasting 40

Cash Forecasting 40

RMAi Blog

NOVEMBER 13, 2024

In This Update The November elections resulted in major wins for the Republican party, as the GOP took the White House, Senate, and (as of this writing) they’ll likely pick up the House of Representatives. If you weren’t able to attend the November 14, 2024 RMAI Post-Election Analysis webinar, you can view the recording here. A Republican-led Senate means the likely Chairman of the Senate Banking, Housing, and Urban Affairs Committee will be Senator Tim Scott (R-SC).

Credit and Collections 130

Credit and Collections Debt Collections Law Firms Credit Reporting Agencies 130

Emagia

NOVEMBER 13, 2024

What is Depreciation? Depreciation is the process of allocating the cost of a tangible asset over its useful life. This method is used for physical assets like machinery, vehicles, and buildings. What is Amortization? Amortisation applies to intangible assets, gradually reducing their value over a specific period, such as patents, copyrights, and trademarks.

Deductions 40

Deductions 40

Emagia

NOVEMBER 13, 2024

Understanding Amortization vs Depreciation When it comes to accounting, understanding amortization vs depreciation is essential. Both terms refer to methods of expensing assets over time, but they apply to different asset types and have unique financial impacts. What is Amortization? Amortization refers to the gradual reduction of an intangible asset’s value over time, such as patents or trademarks.

Deductions 40

Deductions 40

Emagia

NOVEMBER 13, 2024

Understanding eCheque An eCheque is an electronic version of a traditional paper check, used for digital payments. How eCheque Works eCheques work by digitally transferring funds from one bank account to another, similar to paper checks. Security of eCheque Transactions Due to encryption and digital verification, eCheques are secure and widely accepted.

Transactions 40

Transactions 40

Emagia

NOVEMBER 13, 2024

Introduction to Stock-Based Compensation Stock-based compensation is a popular way to reward employees by granting them company shares. Types of Stock-Based Compensation Common types include stock options, restricted stock units (RSUs), and performance shares. How Stock Options Work Stock options allow employees to purchase shares at a set price within a specific period.

40

40

Emagia

NOVEMBER 13, 2024

Introduction to Cash Flow Forecasting Cash flow forecasting is a crucial process that involves predicting the future financial inflows and outflows of a business over a specific period. This practice is integral for businesses of all sizes, as it allows for effective cash flow management. Understanding cash flow ensures that companies remain aware of their financial health, which aids in making informed decisions related to budgeting, investments, and operational strategies.

Cash Forecasting 40

Cash Forecasting Revenue Recognition 40

Emagia

NOVEMBER 13, 2024

Difference Between Cost Center and Profit Center The difference between cost center and profit center lies in their financial objectives. Understanding this difference is essential for effective organizational management. Defining Cost Centers A cost center is a department that does not directly generate revenue but incurs costs. Examples include human resources and accounting.

40

40

Emagia

NOVEMBER 13, 2024

Best Cash Management Solutions In today’s fast-paced financial landscape, finding the best cash management solutions is crucial for businesses to thrive. Effective cash management ensures liquidity, minimizes risks, and enhances financial planning. Understanding Cash Management Cash management involves tracking and optimizing the flow of cash to maintain sufficient liquidity.

40

40

Emagia

NOVEMBER 13, 2024

Not Sufficient Funds Experiencing not sufficient funds (NSF) can be a challenging situation for individuals and businesses alike. NSF occurs when an account lacks the necessary balance to cover transactions, leading to overdraft fees and potential financial penalties. Understanding NSF Transactions An NSF transaction occurs when a bank is unable to process a payment due to insufficient funds in the account.

Credit Scoring 40

Credit Scoring Transactions 40

Emagia

NOVEMBER 13, 2024

Calculate Amortisation Calculating amortisation is an essential process in finance that involves spreading the cost of an asset over its useful life. This method is commonly used in loans and mortgages to determine periodic payments. The Importance of Amortisation Understanding how to calculate amortisation helps borrowers manage their finances better.

40

40

Emagia

NOVEMBER 13, 2024

Payment Processing Payment processing is a critical aspect of modern commerce. It involves the transaction handling between customers and businesses, ensuring smooth financial exchanges. Understanding payment processing can enhance customer satisfaction and streamline operations. How Payment Processing Works The payment processing system involves multiple steps, including authorization, capture, and settlement.

Transactions 40

Transactions 40

Emagia

NOVEMBER 13, 2024

Understanding the Subledger The subledger is an essential part of accounting that helps businesses maintain detailed records of financial transactions. Unlike the general ledger, the subledger contains granular details of each transaction, categorized by specific accounts such as accounts receivable, accounts payable, and inventory. Using a subledger improves the accuracy of financial statements and simplifies reconciliation.

Transactions 40

Transactions 40

Emagia

NOVEMBER 13, 2024

What is Forderungen Abschreiben? Forderungen Abschreiben is the process of writing off receivables in accounting. This process is essential when a business determines that an outstanding debt is unlikely to be collected, impacting its financial statements. Reasons for Forderungen Abschreiben Companies use Forderungen Abschreiben to account for bad debts, ensuring accurate financial reporting by adjusting for uncollectible receivables.

Bad Debt 40

Bad Debt 40

Emagia

NOVEMBER 13, 2024

Understanding the DIO Formula The DIO formula , or Days Inventory Outstanding formula, measures how quickly a company’s inventory is sold over a specific period. It is a key metric in understanding inventory management efficiency. Importance of DIO Formula in Business Using the DIO formula helps businesses assess the liquidity of inventory and manage stock levels more effectively.

40

40