Your Virtual Credit Manager

NOVEMBER 14, 2023

It affects the level of bad debt loss (uncollected Accounts Receivables) you suffer. Selling only to financially strong customers reduces the risk of bad debt loss, (and the cost of Credit and Collections activity required). The increased risk of a significant bad debt loss that your firm bears.

Credit Sales 130

Credit Sales Bad Debt Credit and Collections Credit Risk 130

Your Virtual Credit Manager

MARCH 14, 2023

Collectors spend most of their time asking for payments While it is true collectors are constantly requesting payment of past due balances, once that request is made they end up spending most of their time resolving disputes and invoice discrepancies. For more on collection efficiency, check out this article.

Collector 189

Collector Past Due Invoices Bad Debt Credit and Collections 189

Your Virtual Credit Manager

JANUARY 16, 2024

Having your collection efforts back-stopped by a collection agency provides additional leverage to your efforts to get your customers to pay, avoid bad debt losses and preserve future sales to seriously delinquent customers. For more about working with Collection Agencies, check out this post.

Debt Collections 130

Debt Collections Collector Credit and Collections Bad Debt 130

Your Virtual Credit Manager

APRIL 4, 2023

Supporting profitable sales through the extension of credit Collecting as much of the AR generated as possible by or near the due date to ensure a substantial cash inflow Mitigating the risk of bad debt losses These tasks are best accomplished in a tidy environment.

Past Due Invoices 100

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

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. This included a 100 percent increase in past due collected.

AR Automation 130

AR Automation Collector Credit and Collections Bad Debt 130

Your Virtual Credit Manager

JANUARY 17, 2023

it just might help them pay you sooner!

Credit and Collections 246

Credit and Collections Accounts Receivable (AR) Days Sales Outstanding Past Due Invoices 246

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