레이블이 Accounts Receivable Collections Inc인 게시물을 표시합니다. 모든 게시물 표시
레이블이 Accounts Receivable Collections Inc인 게시물을 표시합니다. 모든 게시물 표시

2013년 11월 29일 금요일

About 'accounts receivables collections'|Measure of Performance for Credit, Collections and Accounts Receivable







About 'accounts receivables collections'|Measure of Performance for Credit, Collections and Accounts Receivable








It               can               often               seem               like               an               impossible               task               when               trying               to               collect               on               your               accounts               receivables.

These               days,               with               cash               and               credit               tight,               your               90-150               day               outstanding               credit               columns               might               be               expanding               at               an               alarming               rate.

Here               are               five               key               accounts               receivable               collection               tips               that               might               help               you               get               your               outstanding               debts               back               in               line.

Develop               your               contacts               -               By               developing               a               report               with               your               accounts,               especially               larger               or               higher               frequency               accounts               can               payoff               big               time               when               it               comes               to               collecting               debts               that               are               owed               to               you.

Spend               a               couple               minutes               getting               to               know               a               company's               accounts               payable               person               or               any               other               contacts               that               might               be               involved               in               the               billing               or               payments               review               process.

Knowing               something               personal               about               them,               their               family               or               hobbies               can               be               a               great               way               to               break               the               ice               when               you               call               to               inquire               about               payments,               and               keep               relations               smooth               during               rocky               times.
               Keep               a               call               list               -               When               you're               working               with               multiple               accounts,               it's               easy               to               forget               when               you               made               your               last               collection               call.

You               should               have               a               file               with               a               call               sheet               for               each               account               you               have               open,               as               well               as               retaining               those               call               sheets               for               accounts               that               are               inactive               or               currently               do               not               owe,               for               payment               history               purposes.

This               will               keep               confusion               to               a               minimum,               and               help               you               avoid               embarrassing               calls               to               accounts               you               may               already               have               called               or               did               not               call               soon               enough.
               Stay               consistent               -               Calling               for               five               day's               in               a               row,               and               then               waiting               a               month,               and               then               calling               another               five               days               in               a               row,               is               probably               only               going               to               anger               your               account               and               make               you               look               unprofessional.

Make               sure               that               you               touch               bases               with               an               account               early               after               you               send               a               bill,               first               off               to               ensure               they               receive               the               bill               and               it               made               it               to               the               right               department               or               person,               and               secondly               to               see               if               there               are               any               questions               or               concerns               regarding               the               bill.

Continue               to               call               on               a               regular,               but               not               annoyingly               frequent               basis               to               remind               the               account               that               they               still               owe               money.
               Be               firm               but               not               pushy               -               You               can               be               understanding,               fair,               even               kind               at               times,               but               don't               be               afraid               to               use               the               means               at               your               disposal               to               get               your               money.

Telling               an               account               that               services               will               be               stopped               if               they               don't               pay,               or               that               they               will               be               turned               over               to               collections               (after               the               proper               amount               of               time               and               effort               on               your               part               of               course)               isn't               being               mean,               it's               just               being               fair.

They               used               your               services               or               bought               your               company's               product               and               now               it               is               time               for               them               to               pay               what               is               due.
               Ask               for               tracking               numbers               -               If               you               have               worked               in               accounts               receivable               or               owned               a               small               business               in               which               you               have               to               deal               with               collecting               on               your               accounts,               I               bet               you've               heard               this               one               before,               "The               check               is               in               the               mail"               or               "I               sent               it               FedEx".

If               they               did               indeed               send               the               check               through               a               delivery               service               or               certified               mail,               ask               for               a               tracking               number.

This               way               you               can               verify               the               validity               of               their               statement               regarding               payment               as               well               as               determine               how               long               it               will               be               before               you               receive               payment.
               Disclaimer:
               This               article               is               for               informational               purposes               only.

Any               action               taken               by               the               reader               due               to               the               information               provided               in               this               article               is               at               the               reader's               discretion.






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accounts receivables collections
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accounts receivables collections
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    2013년 11월 23일 토요일

    About 'collection of an accounts receivable'|Accounts Receivable / Collections Analyst — NYC







    About 'collection of an accounts receivable'|Accounts Receivable / Collections Analyst — NYC








    Factoring               is               predominantly               becoming               the               main               solution               when               a               firm               considers               a               new               or               alternative               accounts               receivable               financing               strategy.

    As               customer               payments               slow               down               (               many               firms               seem               to               be               waiting               60               to               sometimes               120               days               for               the               customer               payments               )               the               challenge               of               running               your               business               from               a               cash               flow               perspective               increases               .

    The               irony               is               of               course               that               many               customers               still               post               30               day               terms               on               their               invoices               and               purchase               order               acknowledgements               from               their               client               base.

    We               should               not               fail               to               mention               of               course               that               there               is               one               very               obvious               'non               -               financial               'solution               for               your               company,               and               it               does               not               even               involve               additional               financing               effort.

    It               is               simply               to               enforce               collections               more               strongly               and               reduce               what               is               known               as               your               'day's               sales               outstanding               'to               a               more               manageable               level.

    Any               major               dent               you               can               put               in               your               'D               S               O               'will               improve               working               capital               and               cash               flow.

    There               is               of               course               the               other               non               financial               alternative,               which               is               the               other               side               of               the               equation,               and               that's               to               slow               payables,               which               also               improves               cash               flow               -               but               you               don't               want               to               do               that               at               the               expense               of               your               suppliers               which               you               value.


                   So               we               have               discussed               why               you               want               to               factor               receivables               and               to               some               extent               what               your               non               -               financial               solutions               are.
                   But               let's               just               make               sure               we               understand               what               we               are               talking               about.

    When               you               are               working               under               a               bank               facility               your               receivables               are               collateralized               or               pledged               as               a               security               for               an               overdraft.

    That's               the               best               simple               way               we               have               of               explaining               to               clients               what               factoring               is               not.

    What               is               is               ,               though,               is               the               sale               of               your               invoices               ,               on               a               daily,               weekly,               or               monthly               basis               (               the               flexibility               is               your               choice               )               ,               thereby               increasing               your               advance               rates               on               those               receivables               to               the               80-90%               range               depending               on               the               type               of               facility               you               have               structured               .
                   More               cash               flow               and               more               immediate               cash               flow               is               the               most               obvious               solution               to               factoring               and               accounts               receivable               financing.

    There               are               two               sides               of               the               coin               though,               and               on               the               other               side               of               this               type               of               financing               strategy               is               the               fact               that               you               might               find               yourself               reporting               on               your               receivables               more               often               that               you               would               have               with               a               bank               type               revolver               line               of               credit.

    You               also               might               be               less               reluctant               to               negotiate               longer               payment               terms               for               your               customers,               as               in               fact               it               will               as               your               firm               that               directly               carries               this               financial               cost.
                   We               spoke               of               the               price               you               have               to               pay               in               factoring               receivables.

    When               we               site               down               with               clients               we               advise               them               there               is               a               real               price,               i.e.

    the               financing               or               invoice               discounting               cost,               but,               more               apparently,               the               major               change               in               the               way               day               to               day               business               changes               from               a               paper               flow               and               customer               interaction               basis.

    If               you               negotiate               the               wrong               type               of               facility               you               might               find               yourself               in               the               same               situation               that               many               of               our               clients               have               found               when               they               come               to               us               with               financing               woes,               which               is               simply               that               they               feel               that               in               spite               of               the               significant               cash               improvement               they               in               fact               feel               that               their               factor               firm               partner               is               running               their               business.


                   Factoring               facilities               in               Canada               are               available               with               firms               who               have               very               high               professional               standards,               are               well               funded               to               meet               all               your               financing               needs,               and               in               fact               tailor               their               financing               service               to               your               business,               once               they               understand               the               uniqueness               of               your               challenges.
                   Many               business               owners               who               know               little               about               factoring               seem               to               know               one               thing,               that               it               can               be               viewed               as               intrusive               by               their               customers.

    You               can               eliminate               that               'intrusiveness               'by               ensuring               you               have               the               right               type               of               facility,               one               that               is               priced               right,               has               straightforward               terms,               and               works               on               a               day               to               day               basis               for               you               and               your               customers.

    The               best               factor               funding               facility               in               fact,               we               feel,               is               the               one               that               allows               you               to               bill               and               collect               your               own               receivables,               while               at               the               same               time               reaping               all               the               benefits               of               accounts               receivable               discount,               as               factoring               funding               is               also               known.
                   So               what's               our               bottom               line               in               our               cash               flow               information               interchange               -               it               simply:
                   -               Determine               if               you               can               achieve               self               financing               status               via               the               more               prompt               collection               of               receivables
                   -               If               financing               is               in               fact               needed               consider               factoring               financing               as               a               working               capital               strategy
                   And               ,               most               important,               work               with               a               credible               ,               trusted               and               experience               advisor               who               will               model               a               working               capital               and               cash               flow               solution               that               reaps               benefits               and               cash               on               terms               you               can               live               with               on               a               day               to               day               basis               .






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    2. debtcollectorsanon.blogspot.com/   10/27/2005
      ... a building... debt collection agency (DCA...admin side of the ..., all accounts payable & receivables, payroll...
    3. zengersmag.blogspot.com/   02/21/2011
      ... of the city payroll...six people to fill a pothole?” he ...99 million in accounts receivable but won’t hire third-party collection agencies...
    4. dentalcpas.blogspot.com/   11/09/2010
      ...on a PnL statement. A couple of comments: 1. By "accounts receivable", are you ...point in time OR the collections figure from an...
    5. rangerfs.wordpress.com/   03/30/2011
      ...we’ll talk to an account receivables professional — someone... of dollars...also in B2B collections? The accounts...
    6. redinccareerhelp.wordpress.com/   11/22/2011
      ...Accounts Receivable/Collections Analyst in New...to work in a growing... accounting or documentation... Knowledge of commonly-...
    7. iwantajobabroad.wordpress.com/   06/28/2010
      ...or collections wanted! What is the role? This role is a mixture of accounts receivables and collections. The role will have the admin aspects of accounts receivables...
    8. mychecksinthemail.wordpress.com/   01/13/2011
      ...be in danger of filing...at least once a month). 4. Be... under Accounts Receivables , AK Collections , ...
    9. dondowney.blogspot.com/   03/23/2008
      ...why AR collections in the professional...into some of the major...delinquent receivables. The last... as an accountant. I saw the...
    10. greenbriarpictureshows.blogspot.com/   06/18/2009
      ...entry about Claudette Colbert . TEX AVERY: KING OF CARTOONS by Joe Adamson: A pioneering 1975 account of Avery’s career with a lengthy interview. There’s also a ratings system...
    11. Collection Of An Accounts Receivable - Blog Homepage Results

      View of the Accounts Receivable world from a 30 year veteran. Commentary on collection practices, debt sales, specific industries, technology changes.
      Collections- Day to Day Collection of Your Company's Accounts Receivable in a "Customer First" manner (by Peter J. Cunningham)
      ... the starting point for accounts receivable management services that create true value...you not only benefit from the short-term value of an



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    2013년 11월 22일 금요일

    Gil Jesus 's blog ::Interview with an Account Receivables Professional







    Gil Jesus 's blog ::Interview with an Account Receivables Professional








    Accounts               receivable               financing               is               becoming               more               and               more               popular               as               an               alternative               financing               and               working               capital               solution               for               Canadian               business               owners               and               financial               managers.

    What               is               it?

    At               its               most               basic               it               is               a               true               form               of               an               asset               financing               arrangement.

    Your               company               uses               its               receivables               as               collateral               in               a               financing               arrangement.

    The               financing               can               be               on               one               receivable,               all               your               receivables,               and,               more               commonly,               some               or               all               of               your               receivables               on               an               ongoing               basis.
                   The               industry               tends               to               refer               to               the               term               'factoring'               as               the               day               to               day               description               of               accounts               receivable               financing.
                   Factoring               or               receivable               financing               allows               Canadian               business               owners               to               receive               immediately,               on               billing,               cash               for               the               receivable.

    A               portion               of               the               invoice               is               always               held               back,               representing               a               traditional               'holdback               'plus               some               of               the               lenders               financing               fee.

    We               would               point               out               that               the               holdback               is               always               paid               back               to               your               firm               as               soon               as               your               customer               pays               the               invoice
                   The               company               receives               an               amount               that               is               equal               to               a               reduced               value               of               the               receivables               pledged.

    The               age               of               the               receivables               have               a               large               effect               on               the               amount               a               company               will               receive.

    The               older               the               receivables,               the               less               the               company               can               expect               -               Generally               speaking,               invoices               over               90               days               can               not               be               sold               -               therefore               no               cash               flow               will               result               on               those               items.
                   Factoring,               or               accounts               receivable               financing               helps               companies               unlock               capital               that               is               invested               in               accounts               receivables.

    Accounts               receivable               financing               on               some               occasions               transfer               the               default               risk               associated               with               the               accounts               receivables               to               the               financing               company;               this               type               of               facility               is               set               up               as               a               non-recourse               facility,               meaning               the               lender               or               finance               firm               that               is               doing               your               factoring               in               fact               accepts               the               credit               risk               associated               with               the               ultimate               collection               of               your               accounts               receivable               .

    How               does               the               lender               do               that               -               quite               frankly               the               receivable               portfolio               originated               on               your               customers               in               effect               is               'insured               'by               the               lender.

    We               will               let               you               guess               who               pays               for               that               and               if               it               is               included               in               your               cost               of               financing.

    Yes,               you               are               right,               you               pay.

    Typically               the               cost               of               such               insurance               as               at               least               a               per               cent               age               or               two               to               your               cost               of               financing.
                   The               Canadian               market               place               is               dominated               by               a               variety               of               firms               that               will               factor               your               accounts               receivable.

    These               firms               are               either               divisions               or               subsidiaries               of               large               U.S               or               other               foreign               countries,               or               they               are               smaller               Canadian               owned,               operated               and               funded               firms.

    Typically               the               latter               type               of               firm,               the               Canadian               single               entity               has               a               difficulty               in               accessing               all               the               funding               it               typically               might               need               for               a               large               number               of               transactions.

    The               factoring               business               requires               a               significant               amount               of               capital.
                   When               a               Canadian               business               originates               an               account               receivable               financing               it               is               prudent               for               the               company               to               ensure               they               understand               the               over               all               profile,               reputation,               and               capabilities               of               the               firm               that               will               be               financing               your               accounts               receivable.

    Unless               the               business               owner               negotiates               a               very               special               type               of               facility               the               accounts               receivable               financing               firm               generally               has               a               good               amount               of               customer               contact               with               your               customer               base;               they               will               want               to               validate               your               invoices,               confirm               customer               acceptance               of               your               invoice               and               products               and               services,               and               in               most               cases               follow               up               directly               with               your               customer               for               payment.
                   In               summary,               Canadian               firms               can               increase               cash               flow               by               the               use               of               the               alternative               financing               method               known               as               'accounts               receivable               financing               ',               commonly               called               factoring.

    Cash               is               secured               for               your               receivables               soon               that               your               customer               actually               paying               for               it               -               As               we               have               pointed               out               that               comes               at               a               cost               in               both               financing               cost               as               well               as               some               level               of               customer               intrusion.

    Canadian               business               owners               should               dutifully               look               into               who               they               are               dealing               with,               their               capabilities               and               procedures,               and               possibly               utilize               the               services               of               a               trusted               and               credible               expert               in               the               area               to               determine               their               best               receivable               partner.






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