RMAi Blog

APRIL 25, 2023

BLOOMINGTON, Minn. — Absolute Resolutions Corp., headquartered in Bloomington, MN, announced today that in honor of financial literacy month they have made a financial contribution to BestPrep. Based in Brooklyn Park, MN, BestPrep prepares students with business, career, and financial literacy skills. Officially established in 1976, BestPrep is now a statewide organization that serves 35,000 students annually and mobilizes more than 5,800 volunteers from the business community.

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Your Virtual Credit Manager

APRIL 25, 2023

As you add customers and increase sales, your company’s Accounts Receivable (i.e. money owed) will grow. Inevitably you will need to initiate collection activities; in other words, start requesting past due customers pay what they owe your firm for goods and/or services provided on credit terms. Photo by JESHOOTS.COM on Unsplash When business owners become challenged by the collection of delinquent receivables (AR), here are the solutions they commonly choose: Handle Collections Yourself:

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Credit and Collections Past Due Invoices Collector Deductions 130

Due

APRIL 14, 2023

Most people find it hard to talk about money, especially between children and their parents. In fact, 57% of parents reported being reluctant to discuss money matters with their children. Furthermore, another study found that 74% of respondents said parents shouldn’t share information about their kids’ finances with kids under 14 years old, and another 14% said it should never be done.

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Small Businesses 145

Loomis Sayles Credit Research

APRIL 6, 2023

State governments tend to boast strong creditworthiness. They have a multitude of revenue streams, the ability to adjust budgets on the fly, and tend to have broad economies. These factors contribute to the sector’s generally high credit quality, with only seven states rated below AA. However, we expect the slowing economy to reveal imbalances that could affect credit quality and lead to diverging performance within the sector.

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Plooto

APRIL 24, 2023

Few activities in business have as much impact in reducing costs, eliminating waste, detecting fraud, and improving the bottom line than spend management. It is the foundation for operational efficiency, cost containment, and visibility throughout the company.

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incfile

APRIL 11, 2023

Got a side hustle? You've probably asked yourself, "Do I need an LLC?" While you can operate your side hustle as a sole proprietor without a legal business entity, getting an LLC for your side business can give it protection and credibility. Here, we'll give you all the reasons to consider an LLC for your side business, plus tips on when and how to start one.

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Credit Management Group UK

APRIL 18, 2023

Typically local government and large corporate companies suffer from bureaucratic delays on payment. Part of the process for on boarding a new customer should be to establish your customers process for authorisation and payment. Does your invoice need to contain specific information required for your customer to easily identify and authorise? Such as delivery address, site name, department etc.

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Credit Management 100

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APRIL 10, 2023

When a recession is looming , it’s always wise to monitor your spending habits. Furthermore, many areas of the economy remain under inflation pressure. Increasing demand for housing and spending on travel, dining out, and entertainment events have led to increases in rent, grocery prices, and hotel, restaurant, and airline flight prices. As inflation takes a toll on your wallet, we’ve put together some ways to ease the burden.

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Credit Scoring Deductions Small Businesses 127

Know-It Global

APRIL 26, 2023

As a business owner, it’s essential to understand and manage credit risk to maintain a healthy cash flow and avoid financial losses. Credit risk is the potential for a borrower to fail to repay a loan or credit extended to them. Understanding how much credit risk a business could pose to you is critical if you want to avoid disaster! Failure to manage credit risk can lead to bad debts, cashflow problems, and eventually, business failure.

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Credit Risk Bad Debt Credit and Collections Default 98

Lendio

APRIL 26, 2023

Did your small business keep employees on your payroll through the pandemic? Congratulations! You may be eligible for a tax credit from the Internal Revenue Service, too. The Employee Retention Credit, or ERTC or ERC, was first launched in the early days of the COVID-19 pandemic as part of the CARES Act relief package. It was intended as an extra incentive for smaller businesses to retain their employees, although it was widely overshadowed by the Payment Protection Program.

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Sky Business Credit

APRIL 26, 2023

Factoring may be one of the most underutilized yet effective forms of funding for a growing business. It may also be one of the most misunderstood and overlooked types of funding. Below, Sky Business Credit addresses and explains 11 myths about factoring. 1. Factoring is for companies having financial problems. Factoring is not for companies that are having financial problems.

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Credit and Collections 98

incfile

APRIL 19, 2023

The year 2022 has been a matter of survival for small businesses, many of which are still struggling to stabilize since the COVID-19 pandemic. As the dust settles in 2023, companies are embracing new small business trends that can have a huge impact.

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Small Businesses 98

Credit Management Group UK

APRIL 26, 2023

In terms of the impact on your customers’ inclination to pay you, letters tend to have more gravitas than emails or phone calls alone. They are a much more formal way of communicating with a customer and therefore can potentially encourage them to take a situation more seriously if they have been paying late and ignoring your emails. Also, to comply with the Court’s pre-Actin Protocols, a Final Demand Letter or Letter Before Action must be posted.

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Credit and Collections Credit Management 99

Due

APRIL 2, 2023

If you lived through the 2008 recession, you know how painful recessions can be. Even if you didn’t personally lose your job or home, you likely knew more than one person who did. The effects of that recession lasted long after the period was declared over. Many Millennials cite its knock-on effects as the reason they haven’t purchased a home or started a family, even to this day.

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TMC Financing

APRIL 18, 2023

“Greening” your building is more than just an architectural fad. It is the way of the future, and a huge money saver. The post Using the SBA Green Energy Program to Increase Commercial Financing appeared first on TMC Financing.

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Waystar

APRIL 18, 2023

This is the seventh post in a new Waystar blog series: 7 steps to sharpen your healthcare revenue cycle. Can’t wait for a new blog each week? Download the eBook to learn 7 steps for maximizing your healthcare RCM software. Maximizing patient collections in healthcare is an increasingly common — and critical — goal. When up to 30% of a provider’s revenue comes directly from patients , you need to fine-tune every piece of your collections cycle.

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Know-It Global

APRIL 19, 2023

Company insolvencies continue to climb steeply March monthly insolvency statistics reveal. 2,457 businesses in England & Wales entered liquidation, an increase of 16% year on year. In Scotland the figure is 21% higher compared to March 2022, with 140 insolvencies recorded. The rise of Creditors’ Voluntary Liquidations (CVLs) paints an extremely bleak picture. 2,115 CVLs were recorded across England, Scotland & Wales in March, up 10% in just one year.

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Bad Debt Credit and Collections Credit Risk Credit Management 98

incfile

APRIL 18, 2023

Writing a business plan for your food truck is essential. Your business plan serves as a strategic roadmap that can drive your food truck dreams into reality. Use your business plan to clarify your goals and objectives by detailing an overview of the financial, marketing, and operational aspects of your new venture. To get started, let's take a look at all the requirements of an effective food truck business plan and how to use a template to get started.

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Eagle Business Credit

APRIL 12, 2023

On this episode of Eagle Eye, CEO Ian Varley dives into the approval criteria for invoice financing facilities. Many business owners think that flexible, growth-enabling funding is out of reach due to a myriad of reasons. Invoice financing is reliable and can help your business grow. There are not unrealistic expectations for applicants. Below are the main areas that an invoice financing company will evaluate to determine whether you can you qualify for invoice financing. 1.

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Credit Scoring Bankruptcy 98

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APRIL 17, 2023

All of us appreciate the privileges of elite status on our preferred airlines. Life seems to be good when you no longer be the last passenger to board the plane or end up cramped in the middle seats of flights. Besides, you have free checked bags and complimentary upgrades. The holistic essence of superiority elevates your self-esteem, right? Well, there are several reasons to vouch for the Delta Premium status.

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Transactions 122

Credit Absolute

APRIL 24, 2023

While not all healthcare providers will report unpaid debt to credit bureaus, medical debt that ends up on your credit report could damage your credit score in the long run. That said, there’s a little sigh of relief for consumers where medical debt reporting is concerned. In a process that started in July 2022, the […] The post Is Medical Debt Getting Removed from Credit Reports & How Will It Impact Credit Scores?

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Credit Scoring 98

Waystar

APRIL 19, 2023

Today, the patient financial journey has the power to define a patient’s entire healthcare experience. It sounds hyperbolic, but the data bears it out. “When you think about the patient experience as a whole, the first and last touchpoints are financial interactions,” says Nadia Critchley, Senior Analyst, Research & Advisory at The Academy.

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ForwardAI

APRIL 13, 2023

Originally published on Accesswire. Industry leading security and compliance evaluation and auditing process demonstrates commitment to excellence in handling customer data NEW YORK, NY / ACCESSWIRE / April 13, 2023 / ForwardAI , a fintech providing aggregated access to accounting and business data and analysis, announces that it has successfully completed its Service Organization Control (SOC) 2 Type II certification.

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Small Businesses 98

incfile

APRIL 12, 2023

Just as naming your pet or baby can fill you with both excitement and angst, naming your business "baby" can do the same. There's so much riding on the name as the chosen name can have a substantial impact on your brand's overall success.

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lsq

APRIL 4, 2023

Program has advanced more than $1.5 billion to American small- and medium-sized businesses since 2020 Orlando, Fla. (April 4, 2023) – On February 23, the Board of Directors of the Export-Import Bank of the United States (EXIM) unanimously approved a second renewal of a 90-percent guarantee of a $200 million purchase facility for U.S. companies in the supply chain of the United States Steel Corporation (U.

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APRIL 25, 2023

Retirement is a time when many people have the opportunity to pursue their interests and hobbies, and travel is often high on the list of things people want to do. However, the cost of travel can make it infeasible for many people…unless they budget for it. In this article, we’ll explore how to budget for travel in retirement. But first, let’s highlight some of the benefits of making time to see the world.

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Credit Absolute

APRIL 10, 2023

Paying your federal taxes when they become due isn’t always an option. When you have other debts to worry about and money is tight, you have to consider all of your options. An IRS installment agreement is a solution to this problem, but some people may be hesitant because they aren’t exactly sure how it […] The post Do IRS Installment Agreements Affect Your Credit Score?

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Credit Scoring 98

Chaser

APRIL 4, 2023

In addition to the challenges posed by the pandemic-related supply chain issues and economic uncertainty, businesses in the construction sector are facing significant cash flow concerns. Compounding these challenges is the ongoing struggle against late payment or non-payment of invoices.

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The Red Spectrum

APRIL 12, 2023

Net 30 vendors are suppliers or vendors that offer businesses the option to pay for their products or services within 30 days of receiving an invoice. This means that you have 30 days to pay the vendor for the products or services you purchased. Negotiating Net 30 better payment terms with your vendors can be beneficial for several reasons. First, it can help you manage your cash flow more effectively.

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Credit Scoring Credit and Collections Credit Risk Credit Management 98

incfile

APRIL 10, 2023

Once you’ve formed an LLC , one essential step you'll need to follow is to keep your personal and business finances separate. Different accounts help to protect your personal assets from any potential business liabilities, and the best way to do that is by opening a dedicated business account for your LLC.

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