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Maximising Cashflow: Enhancing Your Credit Control Process

Know-It Global

Effective credit control is crucial for maintaining a healthy cashflow and financial stability. By implementing a well-structured credit control process, businesses can mitigate the risks associated with late payments and bad debts, ensuring a steady stream of revenue.

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Effective Strategies to Reduce Debtor Days

Know-It Global

Evaluate and improve your credit terms Begin by assessing your current credit terms and ensure they are reasonable and aligned with industry standards. Consider shortening the credit period, tightening credit limits, or implementing stricter credit approval processes. Struggling for time?

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It’s Time to Send Invoices and Receive Payments Electronically

Your Virtual Credit Manager

Subscribe now The Challenge of Receiving Electronic Payments In terms of payments, for the most part we are talking about ACH debits and credits, credit cards, wires (Fedwire or SWIFT), EDI (electronic data interchange) and e-checks, which all come under the umbrella of Electronic Funds Transfer (EFT).

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What Is Cash Management?

TreviPay

The term cash management refers to the process of optimizing the collection and management of cash flow channels. Reduced borrowing costs Reducing borrowing costs through effective cash management can lower interest expenses, improve financial health and preserve credit ratings. What is cash management? and cross-country carriers.

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Can You Pay Your Business Taxes with a Credit Card?

tillful

Good news — if you don’t want to pay out of pocket, you may be able to use a credit card. Mike Dion, senior finance manager at Disney and founder of F9Finance says, “Paying taxes with a credit card is usually not the best bet. Can you pay federal taxes with a credit card ? Can you pay state taxes with a credit card ?

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Wire Transfers Explained: 10 Things You Absolutely Need To Know

truly financial

Both domestic and international fund transfers can be broken down into two additional sub-categories: - Intra-Bank: Transferring between accounts within the same bank. This is also known as EFT (Electronic Funds Transfer) or ACH (Automated Clearing) in several countries. 4: How Do Wire Transfers Work?

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How to Improve the Accuracy of your Cash Flow Forecast

Fundera

Because of their light management and administrative structures, small businesses can find collections a challenge. It could be via PayPal, credit card, electronic funds transfer, or e-payment services like Bill.com. Be a Diligent Collector. Maintain Your Forecast.