Your Virtual Credit Manager

NOVEMBER 19, 2024

Now that we are past the mid-point of November, the end of the year is zooming into focus. Chances are, there is a lot that needs to be done in terms of accounts receivable (AR) management between now and December 31st, especially if you are short of your Days Sales Outstanding (DSO) goals. If that’s the case, collection activities should be at the top of your to do list, because any changes in credit policy and procedures will be too little too late for this year.

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DSO AR Metrics Credit and Collections Accounts Receivable (AR) 100

Gaviti

NOVEMBER 18, 2024

Automation delivers finance departments many benefits, including accurate predictions and insights related to revenue and sales so that CFOs and their teams can make better business decisions. Despite this, automation in accounts receivable has met its fair share of skepticism from business leaders worldwide. Some of the main concerns include change management and employee adaptability to new technologies, adherence to compliance, how easily the automation technology integrates with other financ

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Bad Debt Bad Debt to Sales Invoice to Cash Credit and Collections 97

Abrigo

NOVEMBER 18, 2024

Prepare for regulator scrutiny on interest rate risk & liquidity Banks and credit unions that aren't paying attention to these critical issues can expect a tough review. Key topics covered in this post: Regulatory focus Key questons for ALCOs Governance and concentration risks Expect the unexpected Regulators 'could not be more clear' Today’s regulatory climate is turning up the heat on financial institutions when it comes to liquidity and interest rate risk management.

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Credit Unions 78

Accounting Department

NOVEMBER 20, 2024

Driver-based planning is a type of management that zeros in on a company's key value drivers and key business drivers. It helps create budgeting and business plans based on these factors. The goal of this type of planning is to center on the factors that are important to fueling success. Mathematical models can be created to project business. Driver-based planning is helpful for finance executives when they are planning long-range strategic strategies.

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Plooto

NOVEMBER 18, 2024

Using technology to run your business is a no-brainer in this day and age. It speeds up processes, helps employees and vendors communicate efficiently, and provides fast, reliable data about all aspects of your business.

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Due

NOVEMBER 20, 2024

One of your biggest categories of expenses in retirement is going to be healthcare. Even with excellent insurance coverage and ample preventative care, you may face greatly escalating costs well into your retirement. How do you keep these costs low? And how much of an impact will this have on your finances overall? Plan for the Gaps in Medicare First, and probably most importantly, you need to prepare for gaps in your Medicare coverage.

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Emagia

NOVEMBER 20, 2024

Robert Shultz has witnessed the remarkable transformation of the credit profession over decades. Reflecting on his career, Shultz recalls, “When I started, we were using punch cards.” Today, however, innovative technologies enable credit professionals to assess entire portfolios holistically—once an unthinkable feat. In a recent episode of Emagia’s AI for Finance podcast, Shultz, a seasoned financial executive and managing partner at Quote to Cash Solutions LLC, discussed how AI-driven technolog

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Loomis Sayles Credit Research

NOVEMBER 20, 2024

In our view, the corporate health outlook remains solid as we mark the third anniversary of the CANDIs survey. This quarter’s results show an improvement over last quarter’s six-month forward outlook, with corporate resilience strengthening and positive momentum broadening across more sectors. While corporate health may not be as strong as it was a year ago, we expect stability will persist, consistent with the late stage of the economic expansion.

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Retail Companies 43

Due

NOVEMBER 19, 2024

A study by the United States government found that the cost of childcare for one child can be as much as the average annual rent costs. The National Database of Childcare Prices has revealed the latest figures from a study conducted across America. The study analyzes childcare prices in 2,512 U.S. counties. The findings showed that U.S. families spend “8.9% and 16.0% of their median income on full-day care for just one child, with annual prices ranging from $6,552 to $15,600 in 2022, the most re

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TreviPay

NOVEMBER 20, 2024

TreviPay’s Risk Management Platform now offers automated buyer onboarding at onset of order-to-cash process, with faster and more localized configurations for foreign markets OVERLAND PARK, Kan., November 20, 2024 — TreviPay , the most-trusted B2B payments and invoicing network, has expanded its order-to-cash (O2C) offering by enhancing the buyer onboarding experience through automation.

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Credit Application Order to Cash Transactions 59

Emagia

NOVEMBER 19, 2024

What are Samples of Bank Statements? Samples of bank statements provide a detailed record of your financial transactions over a specified period. They are commonly used to verify income, monitor spending, and analyze your financial health. Samples of bank statements can help individuals and businesses alike manage their finances efficiently. Understanding Bank Statement Formats The format of a bank statement typically includes details such as the date, description, debit, credit, and balance.

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Transactions 40

Cpcmcredit Blog

NOVEMBER 18, 2024

The worlds economies are nervously awaiting the nature of the Trump’s threatened tariffs on international trade. This has the potential to affect every single manufacturing business of course but what are the likely results and overall do trade wars benefit anyone? The answer to the second question would possibly be answered by the great economist Ricardo.

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Due

NOVEMBER 19, 2024

Dell Technologies Inc. and Dell Federal Systems L.P. (collectively Dell) and Iron Bow Technologies LLC (Iron Bow) are set to pay millions of dollars to settle allegations they both overcharged the Army under the Army Desktop and Mobile Computing 3 (ADMC-3) contract. Dell has agreed to pay $2,300,000, and Iron Bow will part ways with $2,051,000 for their role in the scheme to defraud the United States Army.

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Due

NOVEMBER 19, 2024

Corporate pensions in the United States have been experiencing their strongest performance in over a decade. According to data from Aon, pension plan funding has consistently improved since the Great Recession. As of September 21, the pension-funded ratios of public companies on the stock index averaged 102%, signifying that pension funding had reached its highest point since late 2011, when the ratio was approximately 78%.

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Due

NOVEMBER 19, 2024

In the 2010s, the startup landscape was dominated by SaaS—software companies that promised to disrupt industries with scalable, cloud-based solutions. Venture capital dollars flowed into these businesses as fast as they could be coded. But the tides are shifting. While software remains crucial, today’s most ambitious entrepreneurs aren’t just writing code—they’re tackling some of the most complex hardware challenges across industries like manufacturing, defense, robotics, and space exploration.

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Credit and Collections 52

Due

NOVEMBER 19, 2024

A pharmaceutical company has been instructed to pay $47 million to resolve false federal health care claims allegations. QOL Medical LLC (QOL), alongside co-owner and CEO Frederick E. Cooper, has stumped up the money, bringing the submission of false claims to federal healthcare programs allegations to a close. The allegations were brought about after concerns were raised by Elizabeth Allen, Lauren Canlas, Donald Johnson, and Stacey Adams, former QOL Medical employees.

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Due

NOVEMBER 19, 2024

A plan approved by the U.S. District Court for the Northern District of Illinois is set to come into force to distribute $12 million to medical providers and plan participants affected by a multi-million dollar receivership case. On October 29, 2024, the federal court found AEU Holdings, Black Wolf Consulting, Veritas PEO Plan knowingly defrauded healthcare providers and plan holders by underfunding the multiple employer welfare arrangement (MEWA).

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NOVEMBER 18, 2024

Often marketed as a secure retirement income source, annuities are popular financial products. However, they’re also one of the most misunderstood personal finance products out there. As a result, annuities have gained a negative reputation that discourages some people from investing in them. Here, we’ll explore and debunk some of the most common annuity myths.

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Insurance Companies 52

Due

NOVEMBER 18, 2024

Most adults 50 and over are looking toward their retirement years, at least in passing. The idea can be frightening for those who haven’t intentionally set aside funds to see them into their golden years. They may lack enough money to do what they’d like or maintain their standard of living. Life expectancy keeps rising, and the number of years you’ll need enough funds to survive increases.

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Due

NOVEMBER 20, 2024

NVIDIA, the technology powerhouse known for its graphics processing units (GPUs) and artificial intelligence solutions, will release its earnings report after the market closes today. Given the company’s current valuation and potential impact on the broader technology sector, this event is drawing significant attention from investors and market analysts alike.

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Emagia

NOVEMBER 19, 2024

What is Hedging in Finance? Hedging in finance refers to the practice of reducing or mitigating financial risks. By using various financial instruments, investors can protect themselves from potential losses caused by market fluctuations. Hedging in finance helps in minimizing risks in volatile markets. Types of Hedging Strategies There are several types of hedging in finance , including forward contracts, options, and futures.

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Emagia

NOVEMBER 19, 2024

Cash Flow Forecasting: Essential for Business Stability Cash flow forecasting is a vital tool for maintaining financial stability in businesses. It involves predicting future cash inflows and outflows based on historical data, expected revenues, and planned expenses. This helps businesses prepare for cash shortages, avoid overdrafts, and ensure that there is enough capital for operations and growth.

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Small Businesses 40

Emagia

NOVEMBER 19, 2024

What Are Net 15 Payment Terms? Net 15 payment terms refer to a business agreement where the buyer agrees to pay the seller in full within 15 days of receiving the invoice. This arrangement is common in business-to-business transactions and allows companies to offer short-term credit while keeping their cash flow steady. Net 15 is favorable for businesses that need to receive payments quickly.

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Small Businesses Transactions 40

Emagia

NOVEMBER 19, 2024

What is a Debit Memo? A debit memo is a document issued by a buyer to notify a seller of a reduction in the amount owed for goods or services received. It serves as a formal request for a decrease in the original invoice amount. Debit memos are often issued when there are discrepancies, such as damaged goods, incorrect billing, or pricing errors. How Debit Memos Impact Your Accounting Debit memos are crucial in accounting as they adjust the accounts payable balance.

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Invoice Amount Transactions 40

Emagia

NOVEMBER 19, 2024

Understanding Debit Memorandum: An Overview A debit memorandum is a document used in accounting to inform a customer about a decrease in the amount owed. It is commonly used when there is a need to adjust an invoice due to issues like returns or overcharges. When to Use a Debit Memorandum Debit memorandums are typically used when the seller needs to reduce the amount of an outstanding bill.

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Transactions 40

Emagia

NOVEMBER 19, 2024

Cost Allocation: An Essential Business Practice Cost allocation is a crucial financial process where businesses assign indirect costs to different departments, products, or services. It helps in understanding where money is being spent and supports better decision-making. The Importance of Allocating Costs Accurately Accurate cost allocation ensures that businesses can calculate the true cost of products and services, allowing them to set appropriate pricing and optimize profitability.

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Emagia

NOVEMBER 19, 2024

What is Closing of Accounting Books? Closing the accounting books is the process of finalizing a business’s financial records at the end of an accounting period. This step is essential for preparing accurate financial statements and determining the company’s financial health. The Importance of Closing the Books Closing the books ensures that all financial transactions are recorded, that the accounts are reconciled, and that there is no outstanding data.

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Transactions 40

Emagia

NOVEMBER 19, 2024

Equations in Accounting Equations in accounting are essential tools for managing financial data and ensuring that all accounts balance correctly. These equations help accountants track assets, liabilities, and equity to maintain accuracy in financial reports. Basic Accounting Equation The basic accounting equation is one of the core principles in accounting: Assets = Liabilities + Equity.

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Transactions 40

Emagia

NOVEMBER 19, 2024

Stock Based Compensation Stock-based compensation is a method used by companies to compensate employees with stock or stock options. This method is popular in startups and publicly traded companies because it aligns the interests of employees with the success of the company. Types of Stock-Based Compensation Stock-based compensation comes in various forms, including stock options, restricted stock units (RSUs), and employee stock purchase plans (ESPPs).

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Deductions 40

Emagia

NOVEMBER 19, 2024

Surcharge Means A surcharge is an additional fee added to the standard price of a product or service. It is commonly used by businesses to cover the cost of certain transactions, such as credit card processing fees or service surcharges. Types of Surcharges Surcharges can vary widely, depending on the industry and the nature of the transaction. Examples include fuel surcharges, credit card surcharges, and international shipping surcharges, among others.

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Credit Card Payments Transactions 40