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. EIN-only business credit cards.

Credit Card Companies 94

Credit Card Companies Dashboards Small Businesses 94

Your Virtual Credit Manager

JANUARY 3, 2023

” This junk AR comes in a variety of forms, such as: Short payment/deductions Debit memos Unapplied credit memos Unapplied cash Late payment fees and other surcharges Early payment discounts taken but not deserved Clutter obscures the true amount a customer owes and causes confusion. it just might help them pay you sooner!

AR Automation 130

AR Automation Collector Credit and Collections Bad Debt 130

Your Virtual Credit Manager

MARCH 5, 2024

Most small companies come up short because when there isn’t a dedicated employee responsible for credit and collections, the owner or CFO have more important things to do. Are there past due accounts you are trying to collect? The experts at Your Virtual Credit Manager can help you bring in the cash.

Past Due Invoices 100

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

Know-It Global

FEBRUARY 26, 2024

Sage 50 is a desktop accounting software with cloud connectivity that enables businesses to have a complete view of their business finances and inventory. Your business can sign up to Know-it in seconds and implement a robust credit management process that will save time through automation. Know-it now integrates with Sage 50.

Credit and Collections 52

Credit and Collections Credit Risk Credit Management 52

Know-It Global

JULY 26, 2023

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.

Electronic Funds Transfer 98

Electronic Funds Transfer Credit and Collections Debt Collections Bad Debt 98

Your Virtual Credit Manager

OCTOBER 25, 2022

Remittance Processing (also know as Cash Application or Cash Posting) is the process of recording customer payments and applying them to the corresponding open invoices (not yet paid) in the accounts receivable ledger. Customers subsequently received collection calls on invoices they had previously paid.

Credit and Collections 130

Credit and Collections Accounts Receivable (AR) Cash Applicator Deductions 130

Know-It Global

APRIL 13, 2023

Accountancy software company Xero recently published a report showing the average time taken for small businesses to be paid rose by 1.4 Whilst sometimes it might not feel like it, the good news is there are things you can control that will significantly reduce your debtor days! days to 31.3 days, up by 1.5

Credit and Collections 97

Credit and Collections Days Sales Outstanding Credit Scoring DSO 97

Gaviti

APRIL 24, 2023

Effective accounts receivable management is one of the most critical aspects of boosting steady cash flow for your business. Taking this proactive approach can smooth problems over before they spiral out of control. Extend more credit to customers who match your criteria and and less (or none at all) to those who do not.

Credit and Collections 95

Credit and Collections Bad Debt 95

Abrigo

JULY 25, 2023

Takeaway 3 An important way to limit fraud is to design FedNow offerings to control how customers or members use them. 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.

Credit Unions 78

Credit Unions Credit and Collections Transactions 78

RMAi Blog

MAY 12, 2023

Nat’l Credit Sys. , 2023 PA Super 51 A consumer received a dunning letter from a collection agency stating that the agency had a “willingness to work” with the consumer on her account and that it was there to “assist and help” and “discuss other options.” our staff will review and consider your courses for credit.

Collector 130

Collector Credit and Collections Law Firms Debt Collections 130

Gaviti

FEBRUARY 17, 2024

Since your company’s ability to get paid quickly directly impacts your cash flow, it’s important that you have a strategy for both your accounts receivable management to encourage the timely payment of invoices. The Key Components of Effective A/R Management The main aspect of A/R management is the collections of receivables.

Debt Collections 52

Debt Collections Credit and Collections DSO Invoice Collections 52

Know-It Global

JUNE 5, 2023

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.

Electronic Funds Transfer 52

Electronic Funds Transfer Bad Debt Credit and Collections Credit Management 52

Collenda

JULY 19, 2023

Aryza Launches Aryza Dunning to optimise receivables management in the UK and Ireland Aryza, a leading provider of financial software solutions, is proud to announce the launch of Aryza Dunning in the UK and Ireland. The software supports multiple languages and currencies, accommodating businesses in diverse international settings.

DSO 52

DSO Days Sales Outstanding Credit and Collections Credit Management 52

Know-It Global

JUNE 22, 2023

ONE OF Scotland’s fastest growing fintechs, Know-It, has unveiled a new service in its cloud-based credit management platform designed to revolutionise the accounting industry. Credit management is essential for accountants, as it allows them to manage their clients’ financials more effectively.

Credit Management 52

Credit Management Credit and Collections Bankruptcy Credit Risk 52

Abrigo

NOVEMBER 12, 2023

Support credit risk management Understanding loan covenants, when financial institutions should use them, and how to monitor them supports strong lending portfolios and credit risk management best practices. Loan covenants can be included in either the note or the loan agreement (or credit agreement), Kirby says.

Credit Risk 88

Credit Risk Credit Unions Default CECL 88

Gaviti

FEBRUARY 20, 2023

An accounts receivable balance refers to a company’s outstanding invoices that customers have not yet settled. In other words, it is the amount of money owed to a business by its customers for goods or services provided but for which it has not received payment. For example, a customer might choose to pay when he orders.

Credit and Collections 52

Credit and Collections Bad Debt Deductions Payment Portals 52

Your Virtual Credit Manager

SEPTEMBER 13, 2022

They occur because a customer does not receive your product or service as ordered, or feels the invoice is incorrect. Should you confirm that the customer is indeed correct, the deduction is removed from the Accounts Receivable (AR) ledger via a credit memo. Remember, you outsource the activity, not the accountability.

Deductions 130

Deductions Credit and Collections DSO Accounts Receivable (AR) 130

Abrigo

AUGUST 1, 2022

Takeaway 2 Even small banks or credit unions not regulated by the Federal Reserve are required to address control risks from models. Consider the potential consequences of using incorrect or misapplied models to conduct stress testing , assess capital adequacy, estimate credit losses, or monitor and manage high-risk customers.

CECL 78

CECL Credit Unions Credit Risk 78

Onguard

FEBRUARY 23, 2023

It can range from faulty goods being received, to incorrect paperwork, all the way to fraud. Credit risk monitoring is key Non-payment of invoices can cause unnecessary stress in your work. Credit risk monitoring is therefore key to ensuring you get paid. The failure to pay an invoice can occur for a number of reasons.

Third Party Collections 52

Third Party Collections Credit and Collections Credit Risk Credit Management 52

Emagia

JULY 3, 2023

By automating and improving the process of matching incoming payments with open invoices, automated cash application software has completely changed how firms handle their cash flow. The automated cash application software operates by automatically correlating customer payments with the related invoices in the accounting system of a business.

Automated Cash Application 52

Automated Cash Application Cash Applicator Days Sales Outstanding AR Automation 52

RMAi Blog

DECEMBER 14, 2022

We do not expect that either of these large legislative vehicles will be used to carry adverse proposals that would impact the accounts receivables management industry. After a consumer provided his phone number to an insurance provider on a website, he began receiving texts from an insurance marketer. emphasis in original).

Law Firms 130

Law Firms Credit and Collections Credit Unions Debt Collections 130

The Corcentric Blog

NOVEMBER 21, 2023

An accounting metric that is often ignored but can provide a vital glimpse into how your company measures up financially is the accounts payable (AP) turnover ratio. The higher the accounts payable turnover ratio, the quicker the business pays off its debt.

52

52

billtrust

OCTOBER 11, 2022

Stress-free accounts receivable solutions for smoother cash flow. The five biggest challenges in accounts receivable (and how to to solve them) The importance of accounts receivable management How do you manage accounts receivable better? Share with your network: Mail. What you’ll learn.

Accounts Receivable (AR) 52

Accounts Receivable (AR) AR Automation Credit and Collections Cash Applicator 52

Gaviti

SEPTEMBER 7, 2022

Is it any wonder financial professionals spend so much of their time monitoring and controlling it? Over time, this has led to a set of accounting control best practices. These efforts at collection control have yielded the best results for organizations around the world. Credit card. Money order.

Credit and Collections 52

Credit and Collections Default 52

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

Serrala

AUGUST 29, 2022

The below will guide you through a few easy steps to identify if your credit landscape is due an upgrade. Credit Risk Management Software for Effective Credit Control Proactive credit risk management is a must to support a healthy business strategy.

Credit and Collections 52

Credit and Collections Credit Risk Dashboards Credit Scoring 52

Lendio

MARCH 31, 2023

What Is Inventory Accounting? Inventory accounting is how you account for and value the inventory in your business. If you own a merchandising business—for example, a shoe store that purchases shoes from manufacturers or wholesalers and sells these shoes to consumers—your inventory accounting system is somewhat straightforward.

Small Businesses 98

Small Businesses 98

billtrust

NOVEMBER 1, 2022

10 strategies for optimizing your accounts receivable to maximize your ROI. The primary goals of accounts receivable The best KPI for accounts receivable Ten AR optimization goals you should accomplish How to get paid faster with key collection strategies How accounts receivable automation can eliminate manual tasks.

Accounts Receivable (AR) 52

Accounts Receivable (AR) Bad Debt Days Sales Outstanding DSO 52

Gaviti

NOVEMBER 29, 2022

What Is an Accounts Receivable Dashboard? It uses accounting data to give owners and managers insight they can use to make strategic decisions. What Is the Importance of an Accounts Receivable KPI Dashboard? Even so, there are some accounts receivable KPI examples that most companies should review.

Dashboards 52

Dashboards Average Days Delinquent Credit and Collections Cash Forecasting 52

NorthOne

MAY 3, 2023

One essential aspect of managing your finances is invoice processing, whether that is receiving, reviewing, or paying invoices for goods and services your company has received. Invoice capture The first step is to receive the invoice from the vendor. What is invoice processing? What is invoice processing automation?

Small Businesses 52

Small Businesses 52

NorthOne

MAY 3, 2023

Automating your accounts payable (AP) process is the key to ensuring you make payments by the due date, avoid incurring late fees or penalties, and even take advantage of early payment discounts. Here’s an overview of the accounts payable automation process. AP automation automates and streamlines the accounts payable process.

Dashboards 52

Dashboards Small Businesses 52

NorthOne

MAY 3, 2023

If you don’t have an accurate and easy-to-implement accounts payable system, it’s easy to incur late fees or make other financial mistakes. The benefits of accounts payable automation include streamlining your processes and saving time and money. What is accounts payable? The answer: automating the accounts payable process.

Dashboards 52

Dashboards Small Businesses 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. The FTC received fraud reports from 2.4 The fraud triangle is a concept frequently discussed in higher-level management and accounting courses. Coined by U.S.

Cybersecurity 78

Cybersecurity Credit Unions Transactions 78

Abrigo

FEBRUARY 28, 2023

For example, almost all of us can remember receiving something like the following pesky text messages: "Your debit card has been locked; click here to reactivate." Missed delivery from UPS; call now to receive your package." Your bank is closing your account. Please confirm your PIN immediately."

Cybersecurity 78

Cybersecurity Credit Unions 78

The Corcentric Blog

MAY 22, 2023

Oftentimes, investments in accounting applied technologies, such as accounts receivable cash application, fail to recognize the extensive value that these applications bring in terms of scalability, efficiency and accuracy. In addition to operational efficiencies, an optimized order-to-cash system also offers financial benefits.

Order to Cash 40

Order to Cash Cash Applicator Credit and Collections Transactions 40

Lendio

MARCH 13, 2023

Then, after the end of the year, the company’s accountants would close the books so that the financials and taxes can be prepared. The books are typically developed by an accounting professional and then reviewed by the business owner or executive. Accounts receivable is a common example.

Transactions 52

Transactions Small Businesses 52

NorthOne

MAY 2, 2023

Every time you purchase a product or service for your business, you’ll receive an invoice that must be processed and paid on time to avoid late fees and stay in the black. Invoice management is receiving, validating, paying, and recording vendor invoices. This is where effective invoice management comes in.

Credit Card Payments 52

Credit Card Payments Small Businesses 52