article thumbnail

Resolve to Be More Proactive in 2024

Your Virtual Credit Manager

Using credit scores, how is risk distributed among each segment? Are the assigned credit limits appropriate for each segment? Once you have segmented for revenue, you can then look at secondary factors. For example: Do any of the segments account for a disproportionate amount of AR balances that are over 60 or 90 days past due?

article thumbnail

Is Your AR Generating All the Cash Flow It Should?

Your Virtual Credit Manager

Processing Delays There are several AR activities that often take longer than they should and therefore cause delays: processing credit applications, approving orders, generating invoices, and posting payments. To make matters worse, invoice errors also tend to generate payment deductions (partial payments).

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

What Triggers Your Collection Efforts?

Your Virtual Credit Manager

To do this you may want to order an updated credit report as well as recontact any suppliers they provided as a credit reference on their credit application. When you become aware of suits, liens, judgments, slowing payments or deteriorating credit scores it is time to take action.

article thumbnail

Tips for Managing Your Small Business Finances

Lendio

Yet with proper tax planning, it may be possible to reduce your tax obligations to the IRS by taking advantage of tax credits, write-offs, and tax deductions. Tracking expenses can make it easier to claim all the tax deductions and credits available for your small business.

article thumbnail

Ready for Credit? Here’s How the Funding Process Works with BlueVine

Fundera

They’ll take a holistic review of every part of the business, from the owner’s credit score to the company’s social media presence. Each line of credit is paid back on a 6-month term with 26 weekly payments. Terms and conditions for each line depend on your application. How does repayment work? and funding process.

article thumbnail

Ready for Credit? Here’s How the Funding Process Works with BlueVine

Fundera

They’ll take a holistic review of every part of the business, from the owner’s credit score to the company’s social media presence. Each line of credit is paid back on a 6-month term with 26 weekly payments. Terms and conditions for each line depend on your application. How does repayment work? and funding process.

article thumbnail

The 4 Types of Short-Term Loans Every Business Owner Should Know

Fundera

500+ personal credit score. Credit score. Credit card processing statements. Seriously reduces cash flow with daily deductions of credit card receipts. If your business fulfills those qualifications, then your next move is to get your application paperwork together. Credit score.