Your Virtual Credit Manager

MAY 14, 2024

Monitoring and tracking cash is a critically important activity for most small businesses (for more on that subject, check out “ Taking the Crystal Ball out of Cash Flow Forecasting ”). Your accounting software or ERP solution should facilitate the tracking of your AR and thereby save you lots of time.

AR Metrics 130

AR Metrics DSO Credit and Collections Accounts Receivable (AR) 130

Your Virtual Credit Manager

APRIL 9, 2024

There has always been a strong correlation between the cost of funds and accounts receivable (AR) management. As interest rates increase, the cost of borrowing money also increases for businesses. The bond experts at PIMCO are betting that the Fed will deliver fewer rate cuts than other key central banks over the next year or two.

Credit and Collections 130

Credit and Collections Accounts Receivable (AR) Credit Card Payments Collections Automation 130

SAP Credit Management

JANUARY 6, 2023

In this article I am trying to demonstrate the bank related changes and the impact SAP S/4 HANA 2020. The S/4HANA new release came up with simplified solution to minimizing the bank GL accounts and introducing additional configurations for the payments. G/L Account Sub Account type: B- Bank Reconciliation Account.

Transactions 157

Transactions 157

Lendio

MAY 6, 2024

However, there are still plenty of small businesses that operate exclusively in cash—and will continue to do so for years to come. This guide will help you to decide whether you should take advantage of the estimated 441 million open credit card accounts in the United States. Why accept credit cards?

Credit Card Payments 98

Credit Card Payments Small Businesses Credit and Collections Transactions 98

Your Virtual Credit Manager

MAY 30, 2023

Increasingly, electronic payments are replacing checks in B2B scenarios. AFP’s 2022 Electronic Payments Survey revealed that only 33 percent of Business-to-Business (B2B) payments are made by check in the USA and Canada. Moreover, most European nations now require electronic invoicing by law.

Electronic Funds Transfer 130

Electronic Funds Transfer Credit and Collections Vendor Portals Order to Cash 130

Your Virtual Credit Manager

FEBRUARY 13, 2024

Historically, business failures increase after a recession. Likewise, the construction and business services industries, accounting for nearly 20 percent of insolvencies last year, are projected to remain the hardest hit in 2024. commercial mortgage bank security (CMBS) office loan delinquencies to jump to 8.1

Bankruptcy 130

Bankruptcy Credit and Collections Bad Debt Accounts Receivable (AR) 130

Due

APRIL 15, 2024

America’s small businesses face unprecedented challenges. Small business bankruptcy filings increased 78% over the past year, driven by impending changes to bankruptcy law and ongoing uncertainty about the overall economic outlook. As a business owner, you indeed wish things could be easier. Not sure where to begin?

Small Businesses 84

Small Businesses Bankruptcy Credit and Collections Business Bankruptcy 84

Lendio

APRIL 30, 2024

Because business credit cards don’t require collateral and are easy to use and apply for, they’re a very common way for small businesses to secure a boost of funding. You can apply for some business credit cards using an EIN, although in most cases—but not all—you have to provide a personal SSN as well. business bank account.

Credit Card Companies 94

Credit Card Companies Dashboards Small Businesses 94

RMAi Blog

APRIL 13, 2023

If you satisfy the bank, credit union, or store card’s minimum requirements, you will be given a card with a credit limit. How a Debit Card Works: A debit card is a payment card that deducts money directly from your checking account to pay for a purchase. A debit card is simply a tool to use in place of a check or actual cash.

Credit and Collections 130

Credit and Collections Credit Unions Deductions Credit Application 130

SAP Credit Management

FEBRUARY 7, 2023

My previous post focused on the baseline process around import of bank statements in Fiori. This post explores additional enhancements that are necessary if you want to upload bank statements in bank specific formats e.g., XML, CSV, JSON etc. you can configure SAP to upload bank statements in any structured format.

Transactions 127

Transactions 127

SAP Credit Management

FEBRUARY 1, 2023

This post as many others that I share deals with functionalities around bank statement processing. Please also check out my other posts. If you already have some experience with bank statements in S4 HANA & Fiori, this post might not provide anything useful for you. I hope you’ll find something interesting for you.

Transactions 142

Transactions 142

Abrigo

SEPTEMBER 21, 2023

Internet bank fraud is here to stay; learn how to detect and stop it. Learn what is different about internet bank fraud. Takeaway 2 Stay informed of trends in mobile fraud as well as internet bank fraud. Takeaway 2 Stay informed of trends in mobile fraud as well as internet bank fraud.

Cybersecurity 78

Cybersecurity Transactions 78

SAP Credit Management

FEBRUARY 9, 2023

How to block banking information in SAP S/4HANA applications? Sometime after go-live there was concern about sensitive banking information being shown. The business was aware of costly solutions being offered but wanted to save the money and see if we could do it in-house. IF sy-subrc NE 0 AND ET_ENTITYSET IS NOT INITIAL.

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Your Virtual Credit Manager

JULY 18, 2023

When a supplier or vendor grants open credit terms to their business customers, both parties benefit. You should therefore do whatever it takes to establish open credit accounts with your customers, assuming of course that they are credit worthy. That means 80 percent of customers only account for 20 percent of revenue.

Credit and Collections 130

Credit and Collections Credit Scoring Credit Management Credit Application 130

Abrigo

SEPTEMBER 6, 2023

Takeaway 1 Check fraud detection is a critical component of AML programs because it is one type of fraud that continues to trend upward in financial institutions. Takeaway 2 According to the FBI, reported losses from check fraud total $1 8 billion annually.

Credit Unions 78

Credit Unions Transactions 78

Lendio

APRIL 23, 2024

ACH payments, which launched in 1974, have become such a common part of modern life that most people don’t even think about the mechanism that moves money in and out of their bank accounts. Essentially, it is the method banks use to send money between accounts electronically. How to pay employees using ACH.

Transactions 52

Transactions Small Businesses Electronic Funds Transfer Credit and Collections 52

Abrigo

OCTOBER 10, 2023

Use the fraud triangle to prevent fraud at your institution The concept of the fraud triangle is frequently used in business, accounting, and criminology. History indicates that any time there is a global economic downturn like the one we’ve experienced in the past year, business and consumer fraud will likely increase.

Cybersecurity 78

Cybersecurity Credit Unions Transactions 78

Lendio

MAY 24, 2023

Learn How To Start A Small Business. Starting a small business involves many crucial planning, legal, and financial steps. STEP 1 Perform Market Research Market research can provide valuable insights into your marketplace, the industry your new small business is entering, and the competition it will face. No pressure.

Small Businesses 98

Small Businesses 98

Abrigo

MARCH 3, 2023

Ten red flags to help you identify check fraud A financial institution's guide to identifying mail-related check fraud. You might also like this webinar, "Proactive measures to protect against check fraud and fraud loss." Losses from check fraud total $18 billion annually, representing more than a million checks daily.

Credit and Collections 78

Credit and Collections 78

Due

JULY 17, 2023

If you have trouble saving money , you can set up automatic transfers to your savings or retirement accounts. To begin, make a list of the accounts you use every month. This usually consists of checking accounts and credit cards. You’ll end up with something like this: Checking Account. Credit card A.

Credit Scoring 98

Credit Scoring Brokerages Deductions Transactions 98

Abrigo

JULY 25, 2023

This article describes what financial crime staff need to know about how the FedNow Service works and what to do now to prepare fraud and AML functions for the bank or credit union’s implementation of this service. There is no FedNow app, and FedNow’s infrastructure will not provide payment services directly to businesses and individuals.

Credit Unions 78

Credit Unions Credit and Collections Transactions 78

Abrigo

MARCH 8, 2024

Bank wire fraud is growing and becoming more complex. Takeaway 1 Bank w ire transfer fraud is increasing due to technological advances today. Bank wire fraud Introduction Bank Wire fraud has long plagued the financial industry. Here are a few simple things you, as a financial crime professional, can do to slow it down.

Transactions 78

Transactions 78

Lendio

APRIL 23, 2024

Starting a new business can be an exciting journey, but it also comes with its own set of challenges. As a small business owner with poor credit, it can be even more difficult to find the financing you need. Getting a business loan with no credit. Getting a business loan with no credit. How much money are you looking for?

Credit Scoring 52

Credit Scoring Credit and Collections Credit Reporting Agencies Small Businesses 52

Lendio

OCTOBER 17, 2023

We understand that running a business can be tough and that additional capital can make a huge difference. It’s completely understandable that obtaining a business loan may seem overwhelming, but we’re here to help make the process easier for you. Let’s learn how to get a business loan. Ready to find out more?

Credit Scoring 98

Credit Scoring Credit Unions Small Businesses Transactions 98

Abrigo

JANUARY 24, 2024

Real-time payments FedNow uses for credit unions and their members The Federal Reserve Banks designed the FedNow Service so credit unions and financial institutions of all sizes could offer members and customers a fast, efficient way to send and receive money around the clock.

Credit Unions 88

Credit Unions Credit and Collections Transactions Cybersecurity 88

Abrigo

AUGUST 22, 2022

Emerging Check Fraud Trends to be Aware of It seems check fraud will never go away, it just changes its approach every opportunity. You might also like this webinar, "Balancing compliance risk & reward with high-risk businesses." Takeaway 2 Watch out for the check overpayment scam. Check Fraud.

Cybersecurity 78

Cybersecurity CECL Transactions Credit Risk 78

Abrigo

MARCH 30, 2023

This article was written by Olivia Boyer, CAMS & Joann Millard, CAMS, of Abrigo Advisory Takeaway 1 P2P payments move from one individual account to another digitally, and they are becoming more commonplace. Some banks are very cooperative in providing information when requested. or digital currencies.

Transactions 78

Transactions Cybersecurity 78

Abrigo

MARCH 15, 2022

Offering Digital Consumer and Commercial Accounts Benefits Financial Institutions Banks and credit unions that enable online/digital account opening win new customers and members and retain existing ones. . Takeaway 1 Many financial institutions are adding or improving online or digital account opening capabilities. .

Credit Unions 78

Credit Unions Credit Risk Small Businesses Transactions 78

TreviPay

NOVEMBER 9, 2023

Businesses willing to embrace them in their payment strategy will thrive in this changing economic landscape. ” In this blog, we explore what alternative payments are, their different types, and why businesses should be using them. .” They can be used to shop online or in-store by consumers and businesses.

Alternative Payment Methods 52

Alternative Payment Methods Transactions 52

Emagia

MAY 3, 2023

What is a Bank Reconciliation Definition? You take a bank statement, generally at the end of each month, from the bank. The cash and other deposits made to the company’s checking account are listed item by item in the statement. The statement also includes bank charges for account servicing costs.

Credit and Collections 52

Credit and Collections Transactions Deductions 52

NorthOne

JUNE 4, 2023

As a business owner, it is important to understand the concept of a business account and its significance in managing your finances. A business account is essentially a bank account that is specifically designed to meet the financial needs of a business. What is a Business Account?

Credit and Collections 52

Credit and Collections Transactions Credit Unions Credit Scoring 52

Due

FEBRUARY 2, 2024

For example, with the Bank Of America Customized Cash Rewards Credit Card , you can earn 3% cash back per dollar you spend at drugstores. Therefore, let’s check it out as a potential option. You can get it as a statement credit, directly to your bank account, or actual cash from a Chase branch.

Medical Billing 97

Medical Billing 97

tillful

MAY 12, 2023

A poor business credit score or thin credit history can get in the way when applying for small business loans. Because of this, it is far easier for businesses with a good credit history to qualify and be approved for funding. However, following these tips can help make the process a lot more straightforward and easier.

Credit Scoring 98

Credit Scoring Credit and Collections Small Businesses Default 98

Due

JULY 4, 2023

If the applicant has good or excellent credit, they will often be approved for credit cards that offer bonuses worth $150 or more (sometimes much more) in exchange for spending a certain amount in the first few months of opening the account (anywhere from $500 to several thousands of dollars). There can be steep fees if you find one.

Credit Card Companies 103

Credit Card Companies Credit Scoring Transactions Credit Unions 103

NorthOne

JUNE 27, 2023

If you own a franchise, you know that keeping your finances in order is critical to the success of your business. One of the most important decisions you’ll need to make is choosing the right bank account for your franchise. What is Franchise Banking?

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52

Abrigo

FEBRUARY 23, 2023

Relationship focus helps CFIs Small banks can leapfrog competitors and better serve their communities by combining their unique advantages with smart management and partnerships. Takeaway 2 Small banks can better serve customers when they free up staff to focus on fostering relationships.

Credit Risk 78

Credit Risk CECL Small Businesses 78

Fundera

SEPTEMBER 17, 2020

It’s not easy to figure out which business bank account might be best for your business, or even where to begin looking. If you’re an active military member or veteran, or a Department of Defense employee, you’re probably curious about what Navy Federal Business accounts offer. Best for smaller businesses.

Credit Unions 98

Credit Unions Transactions Small Businesses 98