Accounting Department

MAY 30, 2024

Last week, AccountingDepartment.com Business Development Representative, Luke Backus, attended the Veteran Entrepreneur Training Symposium (VETS24) in Orlando, Florida.

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Your Virtual Credit Manager

MAY 28, 2024

Imagine that the order-to-cash (O2C) process is a parade. Leading the charge is the sales and customer service teams that bring in the orders. That’s where most of the hoopla occurs. Following them is everybody involved in production, distribution and the delivery of services — the ranks that get the job done. Next comes billing, followed by collections cleaning up all the garbage left by everybody that has gone before.

Accounts Receivable (AR) 100

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

Due

MAY 27, 2024

Walmart and Capitol One have ended their exclusive consumer credit card offering. The Walmart Consumer Credit Cards deal was devised in 2019 as part of the Capital One Walmart Rewards Credit Card Program. Capitol One and Walmart part ways Today’s news ends the partnership, but little will change for existing Walmart Consumer Credit Card holders.

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Lendio

MAY 28, 2024

More than 30% of American small businesses are not approved for at least some of the funding they apply for. Reasons for this can range from operating in a risky industry to a low credit score. But what really shouldn’t be a concern is flubbing the preapproval process by not having the required documentation. If you’re concerned that you might fall into that category, read on—these are the documents you’ll need to apply for a small business loan or other financing.

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Small Businesses Credit Scoring Transactions 98

Speaker: Susan Richards

Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.

Bad Debt

Accounting Department

MAY 28, 2024

It's summertime at AccountingDepartment.com and we have all sorts of fun things happening! To kick off the summer season this past Memorial Day weekend, we launched our 13th annual ADC Summer Challenge.

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Due

MAY 31, 2024

The Department of Labor (DOL) has investigated three Alabama businesses for fraudulent employee recruitment and benefits from child labor breaches. U.S. District Court for the Middle District of Alabama charged Hyundai and the recruitment agency, Best Practice Service, with benefiting from child labor. Hyundai in child labor suit The shocking filing by the DOL was put in place to crack down in “federal court to prevent three Alabama companies, including a Hyundai U.S. assembly and manufacturing

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Abrigo

MAY 30, 2024

Elder fraud prevention and education Learn strategies for recognizing and reporting elder fraud and exploitation. Would you like other articles on BSA/AML training in your inbox? Takeaway 1 Elder abuse, exploitation and fraud continue to rise as the baby boomer generation ages. Takeaway 2 Learn to recognize common types of elder abuse and the red flags that may accompany them.

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Credit Unions Transactions 88

Accounting Department

MAY 31, 2024

We are thrilled to announce that Episode 20 of our podcast, Beyond the Books , is now live and ready for your listening pleasure.

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Grit

MAY 26, 2024

In today’s fast-paced business world, manual tasks can drag down productivity and efficiency. According to a recent study by Harvard Business Review, more than 90% of workers recently surveyed said automation solutions increased their productivity. This statistic highlights the critical need for companies to adopt workflow automation tools. Workflow softwares can streamline operations, improve collaboration, and boost overall productivity, making them essential for modern B2B businesses.

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Dashboards 95

Credit Management Group UK

MAY 27, 2024

If you have used the County Courts to get a debt paid over the last 12 months, you will be aware the Courts have centralised a lot of the local courts functions resulting in an extensive backlog which, in our experience has resulted in our Client’s debtors becoming insolvent and unable to pay their debts when a claim gets anywhere near a hearing when they may well have had the ability to pay before these changes took place.

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Credit and Collections Credit Management Default Credit Risk 84

Enterprise Recovery: Accounts Receivable

MAY 31, 2024

When reaching out to someone for the first time or following up on a previous message, setting a friendly and positive tone is important. Whether it's a sales email or, in our case, following up about an unpaid invoice, your initial email may dictate how the rest of the transaction will go. Learn how to effectively follow up with others in a polite and professional manner with these subtle techniques.

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Transactions 74

biz2credit

MAY 30, 2024

Disasters can strike at any time, often without warning, and small businesses are particularly vulnerable to the devastating effects of extreme weather events, infrastructure failures, cyberattacks, and other emergencies. Federal funding in the form of disaster loans is available to help SMBs deal with the aftermath of an emergency. But preparing for these potential disruptions … Continue reading "How to Create a Disaster Recovery Plan for Your Small Business" The post How to Create a Disa

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Small Businesses 59

Grit

MAY 26, 2024

Did you know that 78% of business leaders believe that automating tasks in their organization increases the productivity of all stakeholders? As we move further into 2024, the need for workflow automation software has become critical for businesses aiming to streamline operations and enhance efficiency. Workflow automation simplifies tasks, reduces errors, and allows teams to focus on more strategic activities.

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Due

MAY 31, 2024

Costco, the renowned value wholesale store, has demonstrated its financial prowess by delivering a robust third-quarter earnings report that has outperformed the market’s expectations. Costco’s impressive performance in the stock market, bolstered by its rapid expansion into non-food-related items, is a clear testament to its strategic diversification, a move that is poised to resonate with the broader consumer base.

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Reorg Blog

MAY 31, 2024

Judge Brian F. Kenney sustained the objection to the Enviva debtors’ retention of Vinson & Elkins as bankruptcy counsel.

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Bankruptcy 52

Credit Tools

MAY 31, 2024

Large-scale projects or business cases, with commitments over several years and often involving several hundred thousand euros or even several million euros, represent both opportunities and multiple.

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Grit

MAY 26, 2024

Traditional manual processes can be time-consuming, prone to errors, and inefficient. However, with the advent of B2B accounts receivable automation solutions, businesses can streamline their invoicing, payment processing, and financial reporting tasks, significantly improving their operational efficiency. This article explores the benefits of B2B accounts receivable automation and its key features and demonstrates why it’s time to say goodbye to manual work.

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Collection Effectiveness Index Days Sales Outstanding Credit and Collections Bad Debt 90

lsq

MAY 30, 2024

The initial 12 months post acquisition tend to be the most challenging for a private equity firm – and the portco. Operational and working capital hurdles can put revenue growth at a standstill, quell ROI, and limit enterprise value. To help PE firms and portcos overcome these obstacles, LSQ has partnered with OneRock Capital to present Preventing the Tug of War: Gaining Financial Operational Efficiency Post Acquisition.

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Reorg Blog

MAY 31, 2024

Judge Vincent F. Papalia confirmed the Careismatic Brands debtors’ second amended plan at a contested hearing but sustained the U.S. Trustee’s objection.

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Lendio

MAY 30, 2024

Lenders use the debt-service coverage ratio (DSCR) to determine whether your business qualifies for a loan and under what terms. This is just one metric that financial teams consider (along with factors like your credit score and tax returns), but it is vital because it helps you get a fair rate and approval for your request. Your DSCR highlights any existing debt you may have and if you can realistically pay it off.

Credit and Collections 52

Credit and Collections Credit Scoring Default 52

Grit

MAY 26, 2024

One of the most effective strategies to achieve these goals is through automation. Automation helps reduce manual tasks, minimize errors, and improve efficiency, allowing businesses to focus on strategic growth. This article will preview the importance of automation in eCommerce and highlight the top five app automation solutions every business needs.

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Dashboards Transactions 88

lsq

MAY 30, 2024

ORLANDO, Fla. (May 30, 2024) – LSQ, a leading provider of working capital and payments management solutions, recently originated a $3 million accounts receivable credit facility for an aerospace manufacturer based in New Jersey. The company was referred to LSQ by a former client. As part of the partnership, LSQ will also provide the company with comprehensive accounts receivable and customer credit management.

Bankruptcy 52

Bankruptcy Credit and Collections Credit Management 52

Credit Absolute

MAY 30, 2024

Understanding Your Credit Score If you’re trying to perfect your credit score, it’s important first to understand what makes up your credit report and credit score. Your credit score is determined by an advanced algorithm developed by FICO and pulls the data from your credit report to determine your score. When calculating your credit score, […] The post Increasing Your Credit Score & Improving Your Credit appeared first on Credit Absolute.

Credit Scoring 52

Credit Scoring 52

Due

MAY 30, 2024

Billionaire Elon Musk has agreed to testify in the Securities and Exchange Commission (SEC) probe on the deal to buy Twitter for $44 billion. The SEC, a regulatory body known for its thorough investigations, had initially pressured Musk on multiple attempts to uncover the truth about the deal behind the 2022 social media platform sale. The regulator filed a subpoena for Musk in October 2023 after he failed to give information to the investigation into the purchase.

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Grit

MAY 30, 2024

You added email to your app, but how can you optimize user engagement? The answer is email marketing and automation. This allows you to send triggered emails based on user behaviors or schedules, elevating your email program with minimal extra work. Let’s explore email automation – what it is, why it is important, and how to implement it effectively.

Transactions 52

Transactions 52

lsq

MAY 30, 2024

ORLANDO, Fla. (May 30, 2024) – LSQ, a leading provider of working capital and payments management solutions, recently originated a $3 million accounts receivable credit facility for an aerospace manufacturer based in New Jersey. The company was referred to LSQ by a former client. As part of the partnership, LSQ will also provide the company with comprehensive accounts receivable and customer credit management.

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Bankruptcy Credit and Collections Credit Management 52

Reorg Blog

MAY 29, 2024

Spread tightening in the CLO market turbocharged last week, but the week also saw tightening in other rating bands

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Due

MAY 30, 2024

Kohl’s, the household United States department store, has recorded a slump in shares due to a poor earnings report. The chain’s First Quarter Fiscal 2024 Financial Results, announced with little fanfare, have surprised Wall Street with their underwhelming performance. Shares in Kohls seen shares hit by as much as 25% after the earnings report and call was publicized.

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Grit

MAY 30, 2024

When a product is out of stock on your online store, you want to let customers know right away. The standard “Out of Stock” message on BigCommerce may seem basic. But customizing this message can actually help improve your store’s customer experience. A well-written out of stock notice provides clear information to shoppers. It can also encourage them to stay on your site or come back later when the item is available again.

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lsq

MAY 30, 2024

The initial 12 months post acquisition tend to be the most challenging for a private equity firm – and the portco. Operational and working capital hurdles can put revenue growth at a standstill, quell ROI, and limit enterprise value. To help PE firms and portcos overcome these obstacles, LSQ has partnered with OneRock Capital to present Preventing the Tug of War: Gaining Financial Operational Efficiency Post Acquisition.

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Reorg Blog

MAY 29, 2024

Citicorp International Ltd., the trustee of China South City Holdings’ outstanding $289 million 9% notes due April 2024, has sent a notice to noteholders stating that the company and the subsidiary guarantors have not made principal and interest payments that were due on the notes' final maturity date of April 12, 2024.

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Default 52

Due

MAY 29, 2024

Mass Ave Global Inc. (MassAve) and its co-founder and CEO, Winston M. Feng, have been charged with misleading investors. The Securities and Exchange Commission has charged the investment advisors with making false and misleading statements and manipulating investment data, a breach of trust with profound implications. Mass Ave Global charged A United States governmental watchdog scrutinized MassAve’s flagship opportunity fund after a series of red flags were raised in the company’s correspondenc

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Grit

MAY 30, 2024

When your small business starts growing, the systems and processes can get more complicated and messy. You may find yourself overwhelmed by hundreds of small, repeated tasks. However, by automating the processes for your online store, most or all of these manual, repeated tasks can happen by themselves without people doing them. The great thing is that with eCommerce tasks automation , your team won’t have to spend time on those repeated tasks.

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Small Businesses 52