End-of-Year Accounts Receivable Best Practices
As the year draws to a close, businesses are often focused on wrapping up their financials and preparing for the year ahead. A critical component of this process is managing accounts receivable (AR). Efficient AR management ensures a healthy cash
Best Strategies to Collect Past Due Accounts Receivable
Managing past due accounts receivable is crucial for maintaining a healthy cash flow and ensuring the financial stability of your business. Here are some of the best strategies to effectively collect overdue payments while preserving positive client relationships. Establish
Statute of Limitations by State
Here’s the deal: every state has its own rules when it comes to the statute of limitations on debt. Some states keep it simple with the same time limit for all debt types, while others mix it up with different
Credit Collections Policies and Procedures
What are Credit and Collections Policies and Procedures? A solid credit and collections policy is essential for any business. It’s a document that outlines clear, written guidelines detailing terms and conditions for supplying goods on credit, customer qualification criteria, collection
Attorneys and Collections
Most attorneys, unless they specialize in collections, absolutely despise handling collections cases. If you ask your business attorney, who usually handles your contracts and other matters, to do collections, I guarantee they hate it. It’s just not their thing –
Agency VS Attorney
In this video, I spoke with my friend, Thea Dudley, The Credit Overlord. We discussed when to work with an agency versus when to work with an attorney in relation to debt collections. Agency VS Attorney
Effective Credit Policy helps optimize profitability
Creating a Credit Policy doesn’t have to be difficult. Creating a comprehensive corporate credit policy is vital as it ensures a structured framework to optimize profits while mitigating losses. The process involves three fundamental steps: Gathering credit information, Analyzing creditworthiness, and
Cheap VS Good Collection Agencies
In this video, I spoke with my friend Thea Dudley, The Credit Overlord. We discussed differences between Cheap and Good Collection agencies, and when to choose one over the other. Cheap VS Good collection agencies
Credit Decisioning with Thea Dudley, “The Credit Overlord”
Check out this webinar I did with my good friend Thea Dudley, “ The Credit Overlord,” on credit Decisioning. Also, you can purchase Thea’s book “The Credit Overlords Guide to Credit and Collections” here, on Amazon.
You Need Collections Support: Here’s How to Get It
Accrual-based accounting has its pros and cons, especially when it comes to accounts receivable management. While it’s nice to have revenue on the books, it’s not tangible until the money hits your account. Unfortunately, there’s always a chance it won’t
Skip Tracing Resources to Support Better Commercial Debt Collection
Have you ever noticed that when people owe you money, they become incredibly difficult to get in touch with? Their phone stops working, they never seem to get mail, their emails go unopened, and it’s as if they’ve fallen off
The Credit Overlord’s Guide to Partnering with a Collections Agency
What are some of the roadblocks credit managers face when dealing with third-party debt collectors, and how can they overcome them? Thea Dudley, author of The Credit Overlord’s Guide to Credit & Collections, shares valuable insights and straightforward advice from
