Enterprise Recovery

APRIL 26, 2024

In today's competitive business landscape, it's important to manage late payments while upholding positive client relationships. Discover ethical collection practices to help recover late payments while maintaining positive client relationships.

Debt Collections 86

Debt Collections 86

SAP Credit Management

AUGUST 15, 2023

Introduction: In SAP, when making payments to a vendor through the Automatic Payment Program (APP), the system typically defaults to selecting the first bank account listed in the vendor master data. However, there are scenarios where businesses need to make payments using different bank accounts associated with the same vendor.

Default 147

Default Transactions 147

SAP Credit Management

AUGUST 18, 2023

During the year 2021 and 2022 It was implemented in FICA as Brazilian Localization a new payment method called PIX. It’s a instant payment method created by Central Bank Brazil and it reduced cost for entities to release payment and receivables.

Transactions 152

Transactions 152

Chaser

MAY 14, 2024

The Prompt Payment Code protects organisations and their suppliers by establishing regulatory standards for payment. The Code was established in 2008 and has undergone several revisions since then, including the most recently updated standards in April 2024.

Small Businesses 59

Small Businesses 59

Your Virtual Credit Manager

JANUARY 10, 2023

While the impact of defaults can be severe, late payments are very common though their impact less visible. Compared to late payments, zero payment is a much worse outcome, but when you have to borrow money to compensate for cash flow shortages, the impact of slow payments becomes very real and painful.

Credit and Collections 130

Credit and Collections Bad Debt Invoice Disputes Credit Management 130

Credit Management Group UK

MAY 6, 2024

Late payment and poor payment practices continue to be an enormous burden on UK businesses. There will always be an element of risk to late payment when businesses provide credit to their customers, however there are ways to reduce this risk. The post How can recruitment companies reduce their risk of late payments?

Credit and Collections 79

Credit and Collections Credit Risk Order to Cash Credit Management 79

Know-It Global

APRIL 2, 2024

New changes have come into place in April 2024, with updated standards for Prompt Payments being introduced. The Prompt Payment Law brings significant changes that will impact businesses across the country, so we’ve broken down the details to make sure you understand what this means for your business. Interested to try-it?

Credit and Collections 104

Credit and Collections Small Businesses Credit Management 104

SAP Credit Management

JANUARY 23, 2023

In general if Central Finance is to be used only for financial reporting system where all finance operations including open items, payments, clearings etc will remain in source system then tax reporting will also remain in the source systems. VAT Consistency Check This is mandatory with Central Payments.

Deductions 166

Deductions Default 166

Your Virtual Credit Manager

MAY 30, 2023

Paper based commerce, where invoices and payments are delivered via Postal Service mail, is slow and costly. Increasingly, electronic payments are replacing checks in B2B scenarios. AFP’s 2022 Electronic Payments Survey revealed that only 33 percent of Business-to-Business (B2B) payments are made by check in the USA and Canada.

Electronic Funds Transfer 130

Electronic Funds Transfer Credit and Collections Vendor Portals Order to Cash 130

Credit Management Group UK

MARCH 11, 2024

Agreeing payment plans with delinquent customers is a common part of credit control. Push back on their first offer of payment, it’s unlikely their first offer is their best offer. Does your customer understand that payment of the instalments are of the essence of the agreement?

Default 76

Default Credit Management 76

The Red Spectrum

APRIL 12, 2023

Negotiating Net 30 better payment terms with your vendors can be beneficial for several reasons. Second, negotiating better Net 30 payment terms can help you build stronger relationships with your vendors. First, it can help you manage your cash flow more effectively.

Credit Scoring 97

Credit Scoring Credit and Collections Credit Risk Credit Management 97

SAP Credit Management

AUGUST 28, 2023

In this blog, we explain the Interest and Penalty Simulation and Recalculation (predated payments) in SAP TRM/PSCD. In this example, we use the cash desk to process the incoming payment. Interest Calculation Tax authorities may have to calculate and post credit/debit interests on payables/receivables.

Credit and Collections 138

Credit and Collections Transactions 138

Your Virtual Credit Manager

FEBRUARY 28, 2023

Your Virtual Credit Manager (YVCM) previously published an article discussing the pros and cons of Prompt Payment Discounts. However, at this point in time there are other factors in play that favor the use of discounts to encourage earlier payment by your customers. Most distressed companies continue paying, until they can’t.

Bad Debt 130

Bad Debt Accounts Receivable (AR) Credit Risk Bankruptcy 130

Chaser

DECEMBER 22, 2023

Keeping track of your invoices and payments means you know when to chase your customers for payment, prevents you from chasing invoices that have already been paid, and gives you greater control over your accounts receivables.

Debt Collections 95

Debt Collections 95

Chaser

OCTOBER 24, 2023

Late payments have become a common challenge for businesses worldwide, especially for SMEs. These late payments can have a detrimental effect on businesses, forcing as many as 50,000 businesses in the UK alone to cease operations every year, as highlighted by the FSB.

115

115

ForwardAI

SEPTEMBER 28, 2023

There's no doubt that faster payment solutions are on the rise, but are all "instant" payment solutions as speedy as they claim? Dive in and uncover the truth behind the myth of "Instant ACH," and learn why the right payment solution can supercharge business growth. What exactly is an "instant" ACH transfer? How cool is that?

Credit Unions 99

Credit Unions Small Businesses Transactions 99

Credit Management Group UK

NOVEMBER 23, 2023

Understanding how to chase for payment effectively will vary depending on your customer type and payment history. Use leverage Leverage will be your best trick when you have a customer delaying payment. Leverage can come in many forms, such as adding interest or stopping work and/or services due to late payment.

Credit and Collections 89

Credit and Collections Credit Management 89

Chaser

JUNE 6, 2023

The current late payment crisis has significantly impacted businesses of all sizes, reducing cash flow and creating additional financial pressures that threaten business survival.

96

96

Enterprise Recovery

DECEMBER 14, 2023

Maintaining a healthy cash flow is crucial for the success of your business, so it is essential to address any issues with late payments promptly and find effective solutions to ensure a steady and stable financial foundation. Learn about the four pitfalls of delayed invoice payments.

83

83

Plooto

MARCH 28, 2024

Over the past five years, I've been deeply entrenched in the dynamic landscape of the tech industry, particularly specializing in the realm of payments. My journey into tech has been shaped by a profound interest in both financial systems and innovation.

59

59

Chaser

MAY 9, 2023

Almost 40% of businesses in the UK spend four or more hours a week dealing with late payments. That adds up to 208 hours, or just under nine full working days per year wasted simply chasing money your company has already earned.

97

97

Chaser

APRIL 4, 2023

Compounding these challenges is the ongoing struggle against late payment or non-payment of invoices. In addition to the challenges posed by the pandemic-related supply chain issues and economic uncertainty, businesses in the construction sector are facing significant cash flow concerns.

98

98

SAP Credit Management

JANUARY 30, 2023

I bet it does, and you probably ask yourself how to deal with these payment differences. You‘ve heard all the buzz words – like tolerance limits , partial payments , residual items, reason codes – and your head is spinning. Reason Codes You can use reason codes to document why you posted a payment difference.

146

146

Chaser

AUGUST 8, 2023

Are you struggling with constant late payments from your customers? Is a lack of cash flow caused by those late payments stifling the growth of your business? If so, you may want to consider offering multiple payment options.

98

98

Credit Management Group UK

JANUARY 16, 2024

The legislation fulfils the UK’s obligations under the European Directive on combating late payment of commercial transactions. The UK was one of the first countries in the EU to implement late payment legislation and maintains this legislation after Brexit. What if we didn’t agree to late payment charges? x 11.25% = £463.75

Credit and Collections 72

Credit and Collections Credit Management Transactions 72

Chaser

APRIL 30, 2024

Late payments are one of the biggest challenges to steady cash flow and predictable revenue for businesses. Although you may do your best to stay on top of invoicing and billing, outstanding accounts receivables ultimately hinder your profitability.

59

59

Waystar

JANUARY 30, 2024

Healthcare organizations need to simplify patient payment collection — that’s how your patients see it anyway. Whether they’re buying a new refrigerator or moving into a new house, they know what they’re going to pay today, the amount, and the number of future payments. They just want transparency about their bill.

Deductions 52

Deductions 52

Chaser

JUNE 16, 2023

In the last month alone, an estimated 700,000 UK households missed or defaulted on a rent or mortgage payment. Data gathered by Which indicates that missed payments are particularly prevalent amongst renters, with one in twenty having missed a payment in order to cover other outstanding bills.

Default 96

Default 96

Chaser

SEPTEMBER 6, 2023

According to a recent study from Barclays , 57% of SMEs are “ currently waiting on money which is tied up in unpaid invoices ,” which is likely fuelling worries relating to cash flow and prompt payment. One way this can be remedied is by requesting partial payments on invoices.

98

98

Waystar

DECEMBER 9, 2022

The patient payment process is complex — to the point where some people are more anxious about paying for a procedure than actually having it done. “More than half of patients are more stressed about the billing process than the quality of the care they receive,” says Eric Sulivant, solutions strategist at Waystar.

98

98

Gaviti

FEBRUARY 18, 2024

L ate invoice payments have the potential to create a snowball effect for your business that you want to avoid at all costs. Not receiving timely payments at regular periods makes it difficult for you to pay your vendors and suppliers on time as well as make payroll. They were extended additional credit but were not creditworthy.

Credit and Collections 52

Credit and Collections Deductions Collector DSO 52

Gaviti

FEBRUARY 18, 2024

L ate invoice payments have the potential to create a snowball effect for your business that you want to avoid at all costs. Not receiving timely payments at regular periods makes it difficult for you to pay your vendors and suppliers on time as well as make payroll. They were extended additional credit but were not creditworthy.

Credit and Collections 52

Credit and Collections Deductions Collector DSO 52

Chaser

APRIL 9, 2024

Business Central users can access a new, seamless integration with Chaser, making it even easier to eliminate manual work when chasing late payments. Thanks to this new integration , Microsoft Dynamics Business Central 365 users can now chase invoices and reduce late payments automatically with Chaser.

59

59

Lendio

NOVEMBER 14, 2023

In this article, we’ll explore how to calculate the interest and payment on a revolving line of credit and provide tips for applying for this type of financing. You want to make sure that payments on the account won’t put your business in a financial bind. Revolving line of credit calculator. Ready to get the capital you need?

Credit Scoring 98

Credit Scoring Small Businesses 98

Hilton Baird

FEBRUARY 3, 2023

Businesses that trade on credit terms are set to benefit from the interest rate rise, as the amount of late payment interest they can claim has increased. The post Interest rate rises could help SMEs tackle late payment appeared first on Hilton-Baird Collection Services.

98

98

Credit Management Group UK

FEBRUARY 5, 2024

This will leave no un-answered questions and should ensure swift payment. You should also include: Payment terms Usually defined in your terms and conditions and agreed by your customer. For example, payment within 30 days. The post What should be included in invoices you send, to ensure quick payment?

Credit Management 90

Credit Management 90

Emagia

APRIL 19, 2023

Your business can simplify how it receives its payments from clients and gain access to the cash by using lockbox payment. box where their clients can mail their payments. In this article, we will explore the benefits of lockbox payments in more detail and some of their disadvantages. What is a lockbox payment?

Credit and Collections 52

Credit and Collections Transactions Cash Applicator 52