Debt
Collection Made Easy: Strategies To Get Your Cash On Time
- Collections experts say small-business owners must be
friendly and fair, yet firm in the vital collections side
of their business.
Developing
Receivables Resourcefulness - Even if you
don’t have state-of-the-art receivables software,
improvements in credit and collections productivity are
possible. Streamlining work processes, using existing
software to full capacity and taking advantage of other
available automation resources can produce worthwhile
results and boost efficiency.
Creativity
in Accounts Receivable - One of the most
irksome parts of being an independent contractor is the
client who doesn't pay, or at least seems like they won't
pay in time for you to pay your own bills.
Accounts
Receivable Management - If not attended to,
bad debt will rise and eventually need to be written off,
which may seriously threaten the program’s success.
Fortunately, there are techniques available to help the
business office staff manage the Accounts Receivable function.
To understand those techniques, it helps to be familiar
with these terms....
Good
Collections Start with Good Documentation
- In this two part series, we'll discuss customers
and clients who don't pay your bills.
Taking
the Accounts Receivable Financing Plunge
- As a small business owner, you know first hand the struggle
of attaining capital to finance the growth of your business
or meet cash flow shortages. When regular small business
financing such as loans and credit are limited, some business
owners will turn to accounts receivable financing. Is
accounts receivable financing right for your business?
Accounts
Receivable and Cash Flow - Making a sale
is very important. But collecting the money for the sale
is even more important. It does not do any good to sell
a product if you don't collect your money.
FACTORING...
A Sensible Solution In Today's Tight Credit Environment
- Cash flow is a business's biggest need, and when it
fails to flow, there is a simple and time proven method
to liquidate receivables into ready cash.
Accounts
Receivable Financing for Your Business -
Unfortunately, sales cycles and purchasing cycles don't
always run concurrently. Resellers know this all too well:
many times they will need to pay for inventory before
they have sold it. If you need a short-term loan to cover
you until you can sell your inventory, an accounts receivable
loan might be right for you.
Optimize
Your Accounts Receivable - An investment
in accounts receivable is a necessity for most companies
to do business. However, too much receivables or too little
can be unhealthy.
Going
With the Credit Flow - With credit sources
shoring up the lending stream, companies are deciding
if now is a good time to negotiate ample, but expensive,
long-term lines of credit.
Making
Sure you get Paid - The most important element
of a business is getting paid. Here are some tips to ensure
you get paid properly.
The
Dynamic Current Ratio - With this article
I would like to propose a new ratio, the "dynamic
current ratio", to assess a company's liquidity status
instead of the static but commonly used current ratio.
I will briefly explain the weaknesses of the current ratio
and its two related ratios called the "quick"
or "acid ratio" and the "cash ratio".
Aging
of Accounts Receivable - The receivable exists
for the time period between the selling of the inventory
and the receipt of cash. The time period, or terms must
be stated clearly.
How
Money Migrates - Technology has brought major
improvements to the cross-border payment process. But
the old problems, including payments never showing up
or showing up very late, continue to hamper global commerce.
Working
Capital Analysis - Take stock of your working
capital to make sure your business can meet its financial
needs.
Post-Acquisition
Receivables Blues - Caught up in the hype
of a merger or acquisition, senior executives often gloss
over the challenges inherent in merging A/R portfolios.
But problems with receivables can eat into the cash flow
— and future revenues — of a newly formed
company.
How
Long a Grace Period Should You Give Your Customers?
- The grace period is the amount of time you give your
customers to pay without incurring late fees or interest.
Therefore, when determining the length of your grace period,
keep in mind that the more time you give your customers
to pay, the longer it will take to turn outgoing bills
into incoming cash.
Phoning
Slow Payers Pays Off - A management expert
offers some tips on how to get slow payers to pay and
what slow payments might mean.
How
To Select A Collection Attorney - Selecting
an attorney is a serious undertaking, and should never
be taken lightly.
Receivables
Management in an 'E' World - What new capabilities
should companies look for in credit and collection managers?
Creativity, technology know-how, problem-solving ability
and relationship-building skills are at the top of the
list. And accounting majors are not always the hot ticket
these days.
Seller
Beware - Much has been written to help people
avoid scams when they are looking for business opportunities.
But opportunity seekers aren't the only ones who are getting
swindled online and on the Internet. Sellers of merchandise
and services are getting burned, too.
What
Information Should My Invoices Include? -
Your invoices may be the most important documents in your
business; without them, you won´t be paid. Your
invoices should always include the following information...
Making
your business rubber-check proof - If your
company accepts checks, eventually, a rubber one will
try to sneak through. Don't let it -- nothing tramples
your bottom line more than a bouncing check.
