Your Virtual Credit Manager

SEPTEMBER 19, 2023

Now that you understand that your customer has become a liability, it’s time to review their credit worthiness again so you can make informed choices. Order a new credit report, request updated financial statements, and re-check the references provided when they first applied for credit.

Credit and Collections 130

Credit and Collections Bad Debt Default Credit Risk 130

Gaviti

APRIL 3, 2024

Understanding Days Sales Outstanding Days Sales Outstanding, or DSO , is the average number of days it takes a company to collect revenue from an invoice. Accounting operations managers use DSO to calculate the general ability of a company to collect invoices on time for a specific period (e.g. Automate the collections process.

DSO 52

DSO Days Sales Outstanding Credit and Collections Collection Effectiveness Index 52

Your Virtual Credit Manager

JANUARY 10, 2023

Photo by Patrick Hendry on Unsplash Although defaults resulting in significant bad debt losses are a rare event for trade creditors, much of the focus of AR Management is on credit risk. Banks make money by lending so they pay close attention to the credit risk of the borrower. What are these barriers?

Credit and Collections 130

Credit and Collections Bad Debt Invoice Disputes Credit Management 130

Lendio

DECEMBER 14, 2022

Even as a small business owner with no revenue and no credit (or bad personal credit), you might be able to find a startup business loan. Getting A Business Loan With No Credit. When you apply for a business loan, many commercial lenders will review your credit history to get a sense of how you’ve handled debt in the past.

Credit Scoring 98

Credit Scoring Credit and Collections Credit Reporting Agencies Small Businesses 98

Gaviti

DECEMBER 12, 2023

This may signal that the company’s goods or services are not valuable to customers, that the company is not managed effectively or a difficulty in collecting receivables. It is also a helpful measurement in the following scenarios: In the event you wish to sell your company. What Can Companies Do to Improve Cash Conversion Cycle Times?

Credit and Collections 98

Credit and Collections Invoice to Cash Deductions Cash Applicator 98

Lendio

APRIL 21, 2023

Note that this tax rate may be reduced by tax credits (such as the R&D credit or certain employment-related credits). Sales Tax Sales tax is collected by sellers based on the price of each sale. Another example is the research and development credit, which provides a tax credit for qualified research expenses.

Small Businesses 96

Small Businesses Deductions Credit and Collections 96

Lendio

MARCH 21, 2023

It’s called equipment breakdown coverage and helps you pay for repairs caused by covered events. Equipment breakdown insurance covers repair costs when certain events occur. When a covered event occurs, you can file a claim to get paid to fix the equipment. What is Equipment Breakdown Coverage?

Deductions 52

Deductions Credit and Collections Insurance Companies Small Businesses 52

Gaviti

DECEMBER 5, 2023

Long payment cycles, supply chain shortages and seasonality combined with a reliance on manual processes for collections are just a few factors that propel companies in the transportation and logistics industries to seek a more efficient process for their cash optimization. These challenges include: Manual A/R collections processes.

Average Days Delinquent 52

Average Days Delinquent Collection Effectiveness Index Credit and Collections Days Sales Outstanding 52

Gaviti

DECEMBER 5, 2023

Long payment cycles, supply chain shortages and seasonality combined with a reliance on manual processes for collections are just a few factors that propel companies in the transportation and logistics industries to seek a more efficient process for their cash optimization. These challenges include: Manual A/R collections processes.

Average Days Delinquent 52

Average Days Delinquent Collection Effectiveness Index Credit and Collections Days Sales Outstanding 52

Due

MAY 4, 2023

For all Medicare Part B beneficiaries in 2023, the annual deductible will be $226, a $7 decrease from the annual deductible of $233 in 2022. Deductibles and coinsurance are also required for Part B participants. On average, if you wait until 70 to begin collecting Social Security, you will be able to collect more money.

Deductions 115

Deductions Insurance Companies Credit and Collections 115

Eagle Business Credit

OCTOBER 16, 2023

Profit is the surplus money you have after deducting all expenses from your revenue. Accounts Receivable : Promptly collecting payments from customers improves your working capital position. Relationships : Eagle Business Credit provides top notch customer service , with financial experts in every capacity.

Small Businesses 98

Small Businesses Credit and Collections Invoice Collections Invoice Amount 98

Due

APRIL 10, 2023

According to debt.org , “21% of single people had credit card debt, [compared to] 27% of married couples without children and 36% of married couples with children.” There is no need to worry about the credit situation of a partner. There is no need to worry or stress about another’s credit history when you are single.

Deductions 114

Deductions Credit Scoring Credit and Collections Insurance Companies 114

Due

JUNE 14, 2023

Collect information about your income, expenses, debts, and assets. Identifying Deductions and Credits ChatGPT can assist you in uncovering potential tax deductions and credits you may be eligible for. It provides protection for you and your loved ones in the face of unexpected events.

Deductions 64

Deductions Credit and Collections Credit Scoring 64

Due

APRIL 16, 2024

The best con artists are the ones who know exactly what they’re doing, whether it’s a debt collection, credit card phishing , or imposter scam. At the very least, your file should include a written timeline of events, depending on the nature of the scam. Collect all communication. The reason?

Credit and Collections 52

Credit and Collections Credit Card Companies Debt Collections Transactions 52

Fundera

MAY 30, 2019

If you operate a partnership, the business has to file Form 1065 , which is an annual information return that shows the income, deductions, gains, and losses from the business’s operations—but the business itself doesn’t pay any income tax. Bank and credit card statements. Small Business Tax Deductions and Credits.

Small Businesses 100

Small Businesses Deductions Credit and Collections 100

Lendio

NOVEMBER 1, 2023

A business line of credit is revolving, so rather than receiving a lump sum, you can access the money as many times as required. If you’ve been in business for more than half a year, are bringing in $50,000 or more in annual revenue, and have a credit score of 600 or higher, consider yourself a prime candidate.

Small Businesses 98

Small Businesses Credit Scoring Credit and Collections Default 98

Fundera

MARCH 9, 2019

Easier to open a business bank account or credit card. And if your business falls on hard times and goes into debt, your personal property is off-limits to collection agencies. Incorporating your business will provide you with a variety of tax deductions. It’s always best to check with a CPA before claiming any deductions.

Deductions 81

Deductions Credit and Collections Small Businesses 81

Due

MAY 11, 2023

Retirement planning begins long before you collect your last paycheck and begin your leisure lifestyle. You can deduct the contributions from your current-year taxes. Tax-deductible catch-up contributions can accelerate your retirement savings if you’re over 50. Make sure you are careful when using credit.

Deductions 52

Deductions Credit and Collections Credit Scoring 52

Fundera

OCTOBER 12, 2016

If you operate a partnership, you’ll have to file an “annual information return” to show the income, deductions, gains, and losses from the business’s operations—but the business itself doesn’t pay any income tax. Bank and credit card statements. Know What You Can Deduct on Your Small Business Taxes. Payroll documents.

Small Businesses 88

Small Businesses Deductions Credit and Collections 88

Due

JANUARY 27, 2023

What’s more, increasing credit card debt and interest rates are contributing to the problem. Credit score. It is also important to maintain a good credit score in order to maintain financial health. Make sure you have a prime credit score. A recession is also on the horizon. The cost of housing has also risen.

Credit Scoring 105

Credit Scoring Credit and Collections Credit Card Companies Default 105

Your Virtual Credit Manager

JUNE 13, 2023

Open Credit Terms dominate the Business-to-Business (B2B) marketplace. Photo by Jamie Street on Unsplash There are two types of credit risk that arise from selling on open credit terms: Customers paying beyond terms (past due) reduce your cash flow. Credit availability is shrinking. it just might help them pay you sooner!

Credit and Collections 26

Credit and Collections Bad Debt Default Credit Risk 26

Fundera

JULY 22, 2016

It also means if your business falls on hard times and into debt, your personal property is off-limits to collection agencies. Incorporating your business will provide you with a variety of tax deductions, including deductions for: health insurance, life insurance, and savings on self-employment taxes. Easier to Sell.

Deductions 75

Deductions Credit and Collections Small Businesses 75

Fundera

JANUARY 22, 2019

Business Credit Blogger. Popular topics include taxable wages, employee paychecks, deductions, and payroll regulations. Business Credit Blogger. Have questions about anything to do with business credit? Business Credit Blogger has the answers you need. Successful events don’t just appear out of thin air.

Small Businesses 75

Small Businesses Credit and Collections Deductions 75

Fundera

MARCH 28, 2016

Why not just apply for a line of credit ? Well, lines of credit work great for smaller, more frequent purchases, cash flow gaps, or unpredicted emergencies, but a term loan won’t tie up your credit if you invest it in bulk. The biggest factor that lenders take into consideration is your credit score.

Credit Scoring 76

Credit Scoring Credit and Collections Small Businesses Deductions 76

Lendio

APRIL 19, 2023

Property managers meet with potential renters and show them properties, collecting monthly fees from tenants, paying bills, arranging for repairs and maintenance, complying with fair housing laws in the area, and more. Quickly Compare Loan Offers from Multiple Lenders Applying is free and won’t impact your credit.

Brokerages 52

Brokerages Credit and Collections Deductions 52

Due

SEPTEMBER 22, 2023

You can also arrange automatic payroll deductions for contributions to your 401(k) and, if your plan permits, automatic escalation of your contributions. Favor broad all-market equity funds instead of a collection of style-specific equity products. Investing periodically is a form of dollar cost averaging. ETFs with no fees.

Brokerages 59

Brokerages Credit and Collections Deductions Transactions 59

Fundera

NOVEMBER 4, 2015

How will my credit impact my small business lending options? When you go to apply for a business loan, you may be surprised to learn that your personal credit score is one of the most important factors in determining your loan eligibility! Before you dive any further into the small business lending process, check your credit score.

Small Businesses 97

Small Businesses Credit Scoring Credit and Collections Default 97

Fundera

NOVEMBER 1, 2019

Large tech companies like Google are famous for their fringe benefits, including perks like free speaking events and on-site massages. The employer can also deduct many of these expenses from their taxes as a business cost. Businesses with under 25 employees are eligible for a 50% tax credit. Stock options. Disability insurance.

Small Businesses 88

Small Businesses Credit and Collections Deductions 88

Fundera

SEPTEMBER 11, 2019

Current events like the #MeToo movement and increased media attention to workplace discrimination have led to an increase in employee claims against all types of businesses. In other states, employers can’t discriminate against an employee or job applicant based on their credit history. Amount of coverage and size of deductible.

Insurance Companies 54

Insurance Companies Law Firms Deductions Credit and Collections 54

Due

AUGUST 28, 2023

Other benefits of a Roth IRA: There may be additional tax credits available to you, including the Saver’s Credit. In the event of your death, your beneficiaries will not have to pay taxes on Roth IRAs. Roth IRA contributions are after-tax, so you won’t get a tax deduction the year you make them.

Deductions 98

Deductions Collector Credit and Collections 98

Fundera

NOVEMBER 4, 2018

Large tech companies like Google are famous for their fringe benefits, including perks like free speaking events and on-site massages. The employer can also deduct many of these expenses from their taxes as a business cost. Businesses with under 25 employees are eligible for a 50% tax credit. Stock options. Disability insurance.

Small Businesses 88

Small Businesses Credit and Collections Deductions 88

Gaviti

APRIL 18, 2024

As an assessment and diagnostic tool, it’s hard to overstate the importance of your company’s accounts receivable (AR) collections aging report. This report is a valuable tactic to stay on top of cash flow and improve short-term collections forecasting. Cash flow problems usually relate to collection policies or customer behavior.

AR Aging 52

AR Aging Credit and Collections Bad Debt Accounts Receivable (AR) 52

Fundera

APRIL 6, 2019

Set up separate bank and credit card accounts for your LLC, and make a commitment to only use your business accounts for business purposes. Finally, fastidious recordkeeping will help protect you in the event of a claim against your LLC. This means commingling of personal and business funds must be kept at a minimum.

Brokerages 40

Brokerages Credit and Collections Deductions Transactions 40

Fundera

AUGUST 2, 2019

Infiniti can take on all of your business’s payroll obligations, including paycheck distribution, payroll taxes, wage garnishments, child support payments, and voluntary or court-ordered deductions. Furthermore, Infiniti HR can promote your company at career fairs, conferences, and other external recruiting events.

Credit and Collections 40

Credit and Collections Small Businesses Deductions 40

Fundera

SEPTEMBER 10, 2019

For example, your LLC’s name might be “Jane’s Event and Party Supply Store, LLC,” but you might like to use the trade name “Jane’s Parties” in your marketing and business signage. You’ll be required to collect this tax from your customers and remit the tax to the state on a quarterly, monthly, or annual basis.

Credit and Collections 45

Credit and Collections Small Businesses Deductions Transactions 45

Your Virtual Credit Manager

MARCH 21, 2023

Subscribe now Lessons to Be Learned Looked at from the perspective of somebody responsible for the management of a portfolio of accounts receivable (AR), the events surrounding the SVB collapse present a cautionary tale. Any enterprise extending credit to another business needs to have real treasury expertise.

Accounts Receivable (AR) 130

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

Lendio

OCTOBER 26, 2023

It is important to point out that the lender’s risk is higher with an unsecured loan since it has no assets to take possession of in the event of a default. Unsecured business line of credit An unsecured business line of credit is a flexible financing solution that your business can rely on multiple times.

Small Businesses 97

Small Businesses Credit Scoring Credit and Collections Default 97