People who have to make collection calls don't always know how to approach the call. They may not have their responses ready for the questions or excuses that the customers put forth. There are methods of requesting payment on the…
Credit and Collections
Many companies utilize an early payment discount when requested by suppliers. However, the tool has the potential to do far more for your company. It can help to improve the status of the accounts receivable department. The discount tool is…
Sometimes, customers don't pay on time. Often, the fault lies with the customers. However, there's a chance that the invoices you're creating and sending could have a hand in this problem. Over the years, we’ve seen that companies are taking…
Though online portals are intended to simplify invoice and payment processes, they may actually be spurring problems that impact your A/R and A/P teams. Especially during the recent pandemic, many companies used these tools to ensure that orders and payments…
Finance teams can expect the slew of local sales tax rate increases that have occurred recently to keep pace for the rest of 2020. In the first five months of the year, your team faced 150 city sales tax rate…
Time really flies when your finance department is busy charging, collecting and paying more sales tax, thanks to legislative changes. It’s been two years since the Supreme Court ruled on the pivotal case South Dakota v. Wayfair, which gave states…
If you have any smaller businesses in your customer base, you’ll want to check out some new cash flow benchmarks. And they come courtesy of a recent survey on cash reserves of firms with 100 employees or fewer by Expertise.com…
Your finance department probably has some trading partners that are fairly hands-off ... and others that require more attention from A/P and A/R. The latter want your company at their beck and call, ready to help them and calm their…
Take a look at those agings reports – you should be seeing the number of past-dues going down. Small business delinquency rates have dropped across several key buckets in recent months. That’s according to a third quarter Main Street Report…
Ensuring sales and use tax accuracy is a job that generally falls to your finance team. And it’s a high-pressure job at that. If A/R doesn’t apply the right tax rate on invoices, issues are bound to ensue. Best-case scenario,…
Right now, there’s a notable sales tax trend sweeping through states. And if your company hasn’t been impacted yet, it will be soon. States are changing their tune on who can pay sales tax on purchases. Many have passed laws…
