Document and Past Due Invoices - Credit Management Source

Effective Communications for Collecting Delinquent Receivables

Your Virtual Credit Manager

MARCH 5, 2024

If you send an email or text you can attach a copy of their account statement and/or invoice ccopies. On a phone call, you should summarize all amounts past due, such as “you owe $10,000 that is over 30 days past due” or reference one or two large past due invoices (number, amount and due date), but no more.

Past Due Invoices

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

Avoid these Six Collection Myths

Your Virtual Credit Manager

MARCH 14, 2023

Collectors spend most of their time asking for payments While it is true collectors are constantly requesting payment of past due balances, once that request is made they end up spending most of their time resolving disputes and invoice discrepancies. For more on collection efficiency, check out this article.

Collector

Collector Past Due Invoices Bad Debt Credit and Collections

It's Time to Give Your AR Ledger a Spring Cleaning

Your Virtual Credit Manager

APRIL 4, 2023

Subscribe now The Problem with AR Clutter In a perfect world, your AR Ledger would contain only whole, current invoices; or at least nothing seriously past due. Invoice balances that remain unpaid 60 or 90 or more days beyond their due date are not providing any benefits.

Past Due Invoices

Past Due Invoices Credit and Collections Deductions Accounts Receivable (AR)

Debt Collection Mistakes Can Prove Costly

Your Virtual Credit Manager

JANUARY 16, 2024

Lack of Primary Documents Most of the time it won’t matter if don’t have a signed credit agreement or contract, but it will if you are forced to place an account with a collection agency, and even more so if you have to go to court to recover your receivables. Your terms and conditions should always be crystal clear.

Debt Collections

Debt Collections Collector Credit and Collections Bad Debt

What is an Invoice? Best Practices, Tips, and Examples

Emagia

JUNE 19, 2023

Invoice is an important factor in financing in many industries. Invoices serve as a record of transactions between businesses and clients. An invoice is a document that provides information of products and services provided to a client. Invoicing is important for managing cash flow. What is an Invoice?

AR Automation

AR Automation Past Due Invoices Accounts Receivable (AR) Credit and Collections

Balancing Credit Sales with Profits

Your Virtual Credit Manager

NOVEMBER 14, 2023

These customers will require more intense follow up of past due invoices (e.g., at 4-7 days past due versus the two weeks or more that is typical). As electronic storage of documents and EZ Pass type toll collection proliferated, the demand for this paper declined substantially.

Credit Sales

Credit Sales Bad Debt Credit and Collections Credit Risk

Late Payments: Reasons and Remedies

Your Virtual Credit Manager

JANUARY 31, 2023

Paperwork issues will make it harder for your customer to match your invoice to their purchase order and receiving documents. If a customer is constantly loosing your invoices, you should send them duplicates as part of your follow-up process. In the final analysis, this is all about situational awareness.

Credit and Collections

Credit and Collections Past Due Invoices Bankruptcy Credit Management

The Five Stages of a Collection Call

Your Virtual Credit Manager

DECEMBER 13, 2022

Consequently, most businesses need to designate somebody to handle the collection of past due invoices. You should insist they immediately provide documentation to prove that the debt should be invalidated. It behooves that person to put some thought into what they are trying to accomplish.

Collector

Collector Credit and Collections Past Due Invoices Credit Management

AR Data Management, AR Automation, & Accelerating Cash Flow

Your Virtual Credit Manager

JANUARY 3, 2023

Share How to Clean Up Your AR Ledger Launch a collection program to collect all past due invoices at least 15 days late. Match as many unapplied payments and unapplied credit memos to open invoices, deductions, and debit memos as possible. Clear from your AR ledger as many of the clutter transactions as possible.

AR Automation

AR Automation Collector Credit and Collections Bad Debt

Invoice Late Fees: Email Wording Examples

Lendio

MARCH 31, 2023

On every invoice you send , you should remind customers of these terms, including the payment due date and any penalties or fees associated with late payments. Having these payment terms clearly documented is important if you run into payment issues.

Past Due Invoices

Past Due Invoices Small Businesses

Visit Us at the CRF Forum & Expo in Denver!

Credit & Management Systems, Inc.

JULY 26, 2017

We’d love to chat about how your system can aid in streamlining your new account approval, current customer risk assessment, and/or collections monitoring processes so you are receiving maximum benefit. Are you taking advantage of these features?:

Past Due Invoices

Past Due Invoices Credit and Collections Dashboards

Foster Faster Collections with Effective Reminders

Your Virtual Credit Manager

NOVEMBER 21, 2023

Using a report generator, it should not be difficult to create a report in CSV or XLS format that both lists and totals past due invoices by account. Once you create the past due report and the templates for your notices, it is a simple matter to generate the notices, personalize them and email them.

Credit and Collections

Credit and Collections Past Due Invoices Small Businesses Credit Management

11 Steps to Get Paid Faster

Fundera

JUNE 16, 2020

Address any invoices that have gone past due quickly and courteously. Just like your customers are more likely to pay you quickly if you invoice soon after completing work for them, they’re also likely to take care of any past-due invoices if you ask them before too much time has passed.

Credit and Collections

Credit and Collections Past Due Invoices Default Small Businesses

7 Accounts Receivable Goals for Growth in 2023 & Beyond

The Esker Blog

JANUARY 10, 2023

This often leaves customers without noticeably high balances or long past-due invoices receiving limited collections touches, forcing collectors to be more reactive than proactive.

AR Aging

AR Aging Accounts Receivable (AR) Credit and Collections Past Due Invoices

How Asset-Based Lenders Applications Differ from Traditional Options

Fundera

AUGUST 29, 2017

When working with a factoring company , the lender actually purchases your outstanding invoices outright in exchange for a flat sum, as well as for a percentage of payments received. Also, invoice factoring is typically used for delinquent or past due invoices, while asset-based lenders will probably look at the sum total of your receivables.

Past Due Invoices

Past Due Invoices Credit Scoring Default AR Aging

How Asset-Based Lenders Applications Differ from Traditional Options

Fundera

DECEMBER 2, 2015

For invoice factoring, the lender actually purchases your outstanding invoices outright in exchange for a flat sum, as well as for a percentage of payments received. Also, invoice factoring is typically used for delinquent or past due invoices, while asset-based lenders will probably look at the sum total of your receivables.

Past Due Invoices

Past Due Invoices Credit Scoring Default AR Aging

The Small Business Owner’s Guide to Trade Credit

Fundera

JANUARY 24, 2019

As a result, it is not at all uncommon to see invoices from vendors that include a 10% or even 15% penalty charged on all overdue invoices. Some accounting software even offers settings that implement those penalties on past due invoices automatically.

Small Businesses

Small Businesses Past Due Invoices Credit Scoring Default

The Small Business Owner’s Guide to Trade Credit

Fundera

APRIL 24, 2017

As a result, it is not at all uncommon to see invoices from vendors that include a 10% or even 15% penalty charged on all overdue invoices. Some accounting software even offers settings that implement those penalties on past due invoices automatically.

Small Businesses

Small Businesses Past Due Invoices Default

Credit Management Source

Effective Communications for Collecting Delinquent Receivables

Avoid these Six Collection Myths

Trending Sources

It's Time to Give Your AR Ledger a Spring Cleaning

Debt Collection Mistakes Can Prove Costly

What is an Invoice? Best Practices, Tips, and Examples

Balancing Credit Sales with Profits

Late Payments: Reasons and Remedies

The Five Stages of a Collection Call

AR Data Management, AR Automation, & Accelerating Cash Flow

Invoice Late Fees: Email Wording Examples

Visit Us at the CRF Forum & Expo in Denver!

Foster Faster Collections with Effective Reminders

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How Asset-Based Lenders Applications Differ from Traditional Options

How Asset-Based Lenders Applications Differ from Traditional Options

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The Small Business Owner’s Guide to Trade Credit

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