Your Virtual Credit Manager

APRIL 4, 2023

Subscribe now The Problem with AR Clutter In a perfect world, your AR Ledger would contain only whole, current invoices; or at least nothing seriously past due. Invoice balances that remain unpaid 60 or 90 or more days beyond their due date are not providing any benefits. Update your customer master file.

Past Due Invoices 100

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

Your Virtual Credit Manager

JULY 16, 2024

You want to collect any small partial balances and recently past due invoices as well as the oldeest and largest past due balances. Ensure the customer has received ALL the invoices and other documentation requested, and that there are no unresolved disputes or open deductions.

Collector 100

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

Your Virtual Credit Manager

SEPTEMBER 10, 2024

Is all necessary information easily accessible, or is it difficult to locate? Orders should be assessed promptly to ensure they comply with credit approval parameters, such as sufficient credit limits and the absence of past due invoices beyond the grace period. Are there external factors causing the backlog?

Credit and Collections 130

Credit and Collections DSO Deductions Accounts Receivable (AR) 130

Your Virtual Credit Manager

JANUARY 16, 2024

The other reason you should require a credit agreement or contracts that stipulate selling terms and conditions is that these also inform your customer of your payment expectations. This documentation serves to inform you have what has transpired in the past, which includes identifying customer trends.

Debt Collections 130

Debt Collections Collector Credit and Collections Bad Debt 130

Your Virtual Credit Manager

NOVEMBER 14, 2023

Here’s more information on Credit Evaluations. Here’s more information on these risk mitigation instruments. These customers will require more intense follow up of past due invoices (e.g., at 4-7 days past due versus the two weeks or more that is typical).

Credit Sales 130

Credit Sales Bad Debt Credit and Collections Credit Risk 130

The Esker Blog

JANUARY 10, 2023

This often leaves customers without noticeably high balances or long past-due invoices receiving limited collections touches, forcing collectors to be more reactive than proactive. As much as one-third of an AR representative’s time can be spent prioritizing who to call and searching for contact and account information.

AR Aging 95

AR Aging Accounts Receivable (AR) Credit and Collections Past Due Invoices 95

Your Virtual Credit Manager

JANUARY 3, 2023

Share How to Clean Up Your AR Ledger Launch a collection program to collect all past due invoices at least 15 days late. Match as many unapplied payments and unapplied credit memos to open invoices, deductions, and debit memos as possible. Please share this newsletter with your small business customers.

AR Automation 130

AR Automation Collector Credit and Collections Bad Debt 130

Lendio

JANUARY 11, 2023

I’m not talking a week or two: I’m talking about invoices that are a month late or more. When that happens, I take the following steps to getting seriously past-due invoices paid. Step 1 — Identify Overdue Invoices. 30 days after invoice due date if still unpaid. No searching necessary.

Past Due Invoices 52

Past Due Invoices Credit and Collections Bad Debt Credit Card Companies 52

Emagia

JUNE 19, 2023

Invoice is an important factor in financing in many industries. Invoices serve as a record of transactions between businesses and clients. An invoice is a document that provides information of products and services provided to a client. Invoicing is important for managing cash flow.

AR Automation 52

AR Automation Past Due Invoices Accounts Receivable (AR) Days Sales Outstanding 52

Fundera

AUGUST 29, 2017

When working with a factoring company , the lender actually purchases your outstanding invoices outright in exchange for a flat sum, as well as for a percentage of payments received. Also, invoice factoring is typically used for delinquent or past due invoices, while asset-based lenders will probably look at the sum total of your receivables.

Past Due Invoices 75

Past Due Invoices Credit Scoring Default AR Aging 75

Lendio

MARCH 31, 2023

When late payments reach three to four weeks (or longer) past the due date, it may be necessary to take certain steps to get your payment. Identifying past-due invoices is the first step in the process, and can be a daunting task if you keep your records manually.

Past Due Invoices 52

Past Due Invoices Small Businesses 52

Fundera

DECEMBER 2, 2015

For invoice factoring, the lender actually purchases your outstanding invoices outright in exchange for a flat sum, as well as for a percentage of payments received. Also, invoice factoring is typically used for delinquent or past due invoices, while asset-based lenders will probably look at the sum total of your receivables.

Past Due Invoices 61

Past Due Invoices Credit Scoring Default AR Aging 61

Fundera

JANUARY 24, 2019

Also sometimes called placing an order on account, this informal credit relationship between vendor and customer is a great way for small businesses to order inventory or raw materials for resale without having to immediately outlay the cost of the goods.

Small Businesses 63

Small Businesses Past Due Invoices Credit Scoring Default 63

Fundera

APRIL 24, 2017

Also sometimes called placing an order on account , this informal credit relationship between vendor and customer is a great way for small businesses to order inventory or raw materials for resale without having to immediately outlay the cost of the goods.

Small Businesses 63

Small Businesses Past Due Invoices Default 63

Fundera

JUNE 16, 2020

You want to make sure your invoices include all the information necessary for you to get paid properly from these entities. You must also ensure your invoices are being sent to the correct address and to the attention of the right person. Address any invoices that have gone past due quickly and courteously.

Credit and Collections 40

Credit and Collections Past Due Invoices Default Small Businesses 40

Your Virtual Credit Manager

DECEMBER 13, 2022

Consequently, most businesses need to designate somebody to handle the collection of past due invoices. Sharing information about the debt with outsiders: Don’t disclose information about a business customer's debt to anyone other than its authorized representatives. it just might help them pay you sooner!

Collector 130

Collector Credit and Collections Past Due Invoices Credit Management 130

Your Virtual Credit Manager

JANUARY 21, 2025

the credit limit is sufficient and any past due invoices are within your grace period) must necessarily be executed in a timely manner. Complete Visibility of Customers and Transactions: Because Credit and Collections is an information-based activity, reliable, up-to-date AR and customer data are foundational.

Order to Cash 130

Order to Cash Credit and Collections Bad Debt Accounts Receivable (AR) 130