Emagia

JANUARY 2, 2025

In todays fast-paced business environment, managing accounts receivable (AR) efficiently is critical for maintaining healthy cash flow and business sustainability. The traditional methods of handling AR, including manual invoicing, collections, and payment tracking, often lead to delays, errors, and increased operational costs. However, with the advent of Artificial Intelligence (AI), businesses now have an opportunity to transform their AR processes, driving efficiency, accuracy, and faster cas

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Accounts Receivable (AR) Invoice Collections Cash Applicator Automated Cash Application 40

Your Virtual Credit Manager

DECEMBER 31, 2024

Happy New Year! As the new year approaches, many of us take pause to review the ups and downs of the year gone by. Publishers are no different, though we like to focus on what piqued the interest of our readers, and then give them more of the same. In our case, we found a continued interest in collection technique and strategy, as well as in fighting credit fraud.

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Collector Credit and Collections Bad Debt High-Risk Accounts 130

Chaser

JANUARY 1, 2025

In the world of finance, two crucial concepts that play a significant role in managing a company's cash flow are accounts payable vs accounts receivable. Understanding the difference between these two terms is essential for businesses to maintain a healthy financial position.

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Debt Collections 97

Due

JANUARY 3, 2025

The co-creator of the cryptocurrency platform Terraform Labs PTE Ltd. (Terraform) has been extradited to face $40B fraud charges. Do Hyeong Kwon, 33, a citizen of the Republic of Korea, was subject to an extradition order from Montenegro and appeared in a Manhattan court to face federal fraud charges. Before the close of 2025, Kwon appeared before U.S.

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Transactions 52

CreditStrong for Business

JANUARY 3, 2025

If you’ve borrowed money for your small business and used collateral to secure the loan, you may notice something called a UCC filing on your business credit report. The UCC refers to Uniform Commercial Code, and such a filing on your commercial credit report can impact your ability to obtain credit in the future. What Is a UCC Filing? A UCC filing is a legal notice that allows a creditor to notify other creditors about assets your business has used to secure a loan with the filer.

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Credit Scoring Default Transactions Small Businesses 52

Accounting Department

JANUARY 2, 2025

In today's fast-paced business environment, numbers alone won't cut it. It's about transforming those numbers into meaningful insights that can guide strategic decisions and drive growth. Financial analytics offers medium-sized businesses a powerful tool to convert raw data into actionable strategies, giving them a competitive edge. Let's explore how leveraging financial analytics can revolutionize business operations , improve decision-making, and enhance overall efficiency.

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Chaser

JANUARY 1, 2025

The accounts receivable turnover ratio is a financial ratio that measures how efficiently a company collects its accounts receivable. It is calculated by dividing net credit sales by average accounts receivable.

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Credit Sales Debt Collections 95

Abrigo

DECEMBER 31, 2024

The major priorities and challenges in lending and credit risk in the year ahead Abrigo asked bank and credit union clients and members of our Advisory Services group to identify the trends and challenges that are top of mind. Key topics covered in this post: Regulatory compliance & CFPB 1071 Managing profitability for interest rate dynamics Continued risk in CRE Small business lending opportunities Top-of-mind topics for lenders and credit risk professionals As financial institutions enter

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Credit Risk Credit Unions Credit and Collections Small Businesses 78

Accounting Department

DECEMBER 31, 2024

In an ever-evolving business landscape, anticipating and adapting to future challenges and opportunities is crucial for achieving long-term success. As companies strive to stay ahead, CFO support services have emerged as a vital component in future-proofing business operations. Providing expert financial guidance, strategic planning, and technological integration, these services play a pivotal role in ensuring stability and growth.

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RMAi Blog

JANUARY 3, 2025

Receivables Management Association International holds elections each year to approve a slate of officers and elect new Directors to open seats. In 2025, there are three (3) open Director seats on the 10-member Board: two (2) certified debt-buyer seats and one (1) certified third-party collection agency seat. Voting Process The ballot can be downloaded here.

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Third Party Collections 130

Emagia

DECEMBER 30, 2024

Understanding the nuances of accounts receivable (AR) in accounting is crucial for maintaining accurate financial records and ensuring effective cash flow management. This comprehensive guide delves into whether accounts receivable is recorded as a debit or credit, the principles of double-entry bookkeeping, and the implications for financial statements.

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Accounts Receivable (AR) Days Sales Outstanding Credit and Collections Bad Debt 40

Due

JANUARY 3, 2025

The S&P 500’s performance in December 2024 appears poised to end in negative territory, contradicting expectations of a traditional Santa Claus rally. This development prompts a closer examination of historical market patterns and their potential implications for 2025. Historical Market Analysis A comprehensive analysis of S&P 500 data spanning 75 years reveals some notable patterns.

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Enterprise Recovery

JANUARY 3, 2025

It's the perfect time for B2B sales professionals to reevaluate client relationships. Trust and loyalty will go a long way in staying in front of mind when your clients are making major budget decisions. If you're not already planning to connect with your clients this month, let this be a reminder. Strengthening client relationships is the perfect resolution for B2B sales professionals in the new year.

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RMAi Blog

DECEMBER 30, 2024

On December 21, 2024, A8872 -A and S2659-B were signed into law by Governor Hochul, amending New Yorks data breach notification law. The bills, where are identical, went into effect immediately. The amendments create the following requirements: Residents must be notified of a breach within 30 days of discovery, subject to the needs of law enforcement.

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Emagia

JANUARY 2, 2025

In the world of accounting and finance, managing transactions efficiently and accurately is paramount. Businesses of all sizes rely on various payment methods to facilitate their operations, whether it’s through credit card payments, checks, wire transfers, or online platforms. One tool that can assist businesses in keeping their books organized and transactions smooth is the clearing account.

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Credit Card Payments Transactions Invoice Amount 40

Know-It Global

JANUARY 2, 2025

Happy New Year and welcome to 2025! We hope you had a wonderful Christmas break. Here’s what we’ve been up to in the month of December! Christmas Night Out After another year ofhard work, the team came together along with platformpartners Darcey Quigley & Co to celebrate Christmas. The teams went to The Flight Club in Glasgow where the darts got rather competitive…followed by some Christmas drinks.

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Loomis Sayles Credit Research

JANUARY 2, 2025

Given how much the emerging market (EM) debt universe has evolved, we believe blanket statements about the sector should be a thing of the past. However, even now, headlines often do not distinguish between the characteristics of EM local-currency bonds versus those of EM corporate and sovereign bonds issued in US dollars. The following chart shows one reason why we believe EM fixed income shouldnt be painted with a broad brush.

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JANUARY 3, 2025

Rhode Islands second-largest hospital will pay $1.9 million in back wages to employees denied overtime and other compensation. Kent County Memorial Hospital in Warwick has been the center of a labor investigation that impacted eight hundred and fifty-three medical care staff. The investigation found the employer guilty of improperly paying employees who had worked diligently through the COVID-19 pandemic.

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Deductions 52

Emagia

DECEMBER 30, 2024

Selling accounts receivable, commonly known as invoice factoring, is a financial strategy that allows businesses to convert outstanding invoices into immediate cash. This comprehensive guide explores the intricacies of selling accounts receivable, its benefits, potential drawbacks, and how it can impact your business’s financial health. Understanding Accounts Receivable Accounts receivable represent the outstanding invoices a company has or the money clients owe for goods or services deliv

Credit and Collections 40

Credit and Collections Credit Risk Default 40

CreditStrong for Business

JANUARY 3, 2025

With car financing, car buyers receive a lump sum of money from a lender and then make monthly car payments until the vehicle loan balance is repaid. Unlike unsecured credit cards, personal loans, and student loans, auto financing represents a type of secured loan. Here, a bank, credit union, or other lender retains ownership of the car financed as collateral (security) during the loan term until all loan payments are completed.

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Credit Scoring Credit Unions Default 52

Emagia

DECEMBER 30, 2024

Understanding the distinctions between debit memorandums (debit memos) and credit memorandums (credit memos) is crucial for accurate financial management and transparent business transactions. This comprehensive guide delves into their definitions, purposes, issuance scenarios, impacts on financial statements, and their significance in business operations.

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Transactions 40

CreditStrong for Business

JANUARY 3, 2025

Before you prequalify or start touring houses with your real estate agent, the first step to starting your journey to homeownership is finding out how much house you can afford comfortably. The average home buyer in 2024 had a median income of $108,800 but that doesnt mean if you make less, you wont be able to buy a home. In truth, income is just one factor that contributes to your ability to qualify to borrow with a mortgage lender.

Credit Scoring 52

Credit Scoring 52

CreditStrong for Business

JANUARY 3, 2025

In general, businesses have two ways of getting funding for their operations: debt financing and equity financing. Many companies decide to use a combination of both since each one has distinct advantages and disadvantages. Heres what you should know about debt vs. equity financing, including how both business financing approaches work, the differences between them, and when its better to use one over the other.

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Credit and Collections Deductions Credit Unions Credit Scoring 52

Due

JANUARY 3, 2025

Annuities are an effective tool for individuals seeking to secure their financial future. After all, they provide a steady income stream, often for life, and can ease concerns about outliving your savings. However, annuities are not for everyone. So, before deciding whether to invest in one, you should carefully consider your financial goals, current situation, and long-term needs.

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Insurance Companies Deductions 52

Due

JANUARY 2, 2025

In a notable market development, Apple’s stock performance has created an intriguing paradox. Despite experiencing declining sales since September 2022, Apple’s stock value has increased by 75%, challenging traditional market expectations. This situation has drawn attention from investors worldwide, including legendary investor Warren Buffett, who has reduced his Apple holdings by 70% this year despite the stock’s 35% gain.

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JANUARY 1, 2025

The 4% rule has been THE rule for retirement spending for decades. According to David Blanchett, managing director and head of retirement research at PGIM DC Solutions, 61% of financial advisors use the 4% withdrawal rule. According to this rule, retirees should withdraw 4% of their savings each year, adjusted for inflation, and should not run out of money in 30 years.

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DECEMBER 31, 2024

At the start of a new year , it is common to reflect on the past and make goals for the future. While fitness, career advancement, and personal growth often top your list, financial planning should also receive immediate attention. However, rather than just focusing on short-term goals like holiday shopping or summer vacations, long-term financial planning is also essential — especially retirement savings.

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DECEMBER 30, 2024

The Madoff Victim Fund (MVF) is entering the 10th and final installment of its $131.4 million asset distribution. The funds were made available through the U.S. government in connection with the Bernard L. Madoff Investment Securities LLC (BLMIS) fraud scheme court decision. Madoff defrauded thousands of victims worldwide, and the Justice Department report stated that this decade of work to find and resolve complex financial transactions has reached reimbursement or restitution of 94% of fraud l

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Transactions Small Businesses 52

Due

DECEMBER 30, 2024

They’re often overlooked but Health Savings Accounts (HSAs) provide a wealth of tax benefits and also bring flexibility to your retirement planning. Many people think of HSAs as purely a way to handle medical costs as they come up, but these accounts also help your ability to save for retirement. It’s essential to learn about all the ways that your HSA can make a big difference in how you strategize for retirement, especially considering your long-term health needs.

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Deductions Medical Billing 52

Emagia

JANUARY 2, 2025

In the financial world, accuracy and clarity are paramount. Both the trial balance and the balance sheet are critical tools in accounting, but they serve distinct purposes. Understanding their differences is essential for accountants, business owners, and financial analysts alike. In this detailed guide, well explore the nuances of each, their significance, and how they contribute to financial transparency.

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Emagia

JANUARY 2, 2025

Depreciation is a cornerstone of modern accounting, providing businesses with a systematic way to allocate the cost of tangible assets over their useful lives. This practice not only ensures accurate financial reporting but also aligns expenses with revenue generation. In this blog, well explore everything you need to know about depreciation journal entries, including their significance, calculation methods, and practical examples.

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Emagia

JANUARY 2, 2025

In today’s digital world, we are increasingly reliant on various payment methods to make purchases, from online shopping to event tickets and utility bills. However, while these modern payment options offer convenience, many businesses impose additional charges called “convenience fees” when customers opt for these non-traditional methods.

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Alternative Payment Methods Transactions Payment Portals Credit Card Payments 40

Emagia

JANUARY 2, 2025

Depreciation is a fundamental concept in accounting, representing the allocation of an asset’s cost over its useful life. Among various methods to calculate depreciation, the Double Declining Balance (DDB) method stands out due to its accelerated approach. This article delves into the DDB depreciation formula, its calculation, advantages, disadvantages, and practical applications.

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Emagia

JANUARY 2, 2025

In the world of digital finance, businesses and individuals alike rely on secure and efficient payment systems to transfer funds. Two of the most widely used systems for electronic payments are SWIFT and ACH, each with its distinct advantages and applications. Whether you’re making an international transfer or a domestic payment, understanding the differences between SWIFT and ACH, especially when it comes to payment tracing, can significantly impact your financial transactions.

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Transactions 40

Emagia

JANUARY 2, 2025

Bank statements are vital financial documents that offer a clear snapshot of your financial activity over a specific period. Whether you’re keeping track of your expenses, looking to understand your spending habits, or reviewing your bank account for potential discrepancies, understanding a bank statement is crucial. In this comprehensive guide, we’ll explore the ins and outs of a bank statement, covering its definition, purpose, components, and importance.

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Transactions 40

Emagia

JANUARY 2, 2025

Introduction to Intelligent Document Processing (IDP) In todays digital age, businesses are increasingly looking for ways to automate and optimize their operations. One key area where automation has proven invaluable is in the management and processing of documents. Intelligent Document Processing (IDP) has emerged as a game-changing technology that leverages artificial intelligence (AI), machine learning (ML), and optical character recognition (OCR) to automate and enhance document-related work

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Invoice Amount Transactions 40

Emagia

DECEMBER 30, 2024

In today’s fast-paced business environment, efficient management of accounts receivable (AR) is crucial for maintaining healthy cash flow and ensuring organizational profitability. AR automation emerges as a transformative solution, streamlining financial transactions between companies and their customers. This comprehensive guide delves into the intricacies of AR automation, exploring its components, benefits, implementation strategies, and future trends.

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