Accounting Tools

OCTOBER 20, 2023

Related Courses Essentials of Employment Law Human Resources Guidebook What is an Agency Shop? An agency shop is an entity in which a union represents all employees in a bargaining unit, irrespective of employee membership in the union. In this situation, the union can collect dues and assessments from all employees in the unit.

Collections 40

Collections 40

Accounting Tools

MARCH 5, 2024

Debt collection strategies are needed to maximize the efficiency and effectiveness of the collections team. Ultimately, the result should be more collected funds in relation to the collection effort expended. A suggested set of debt collection strategies to consider are noted below. Will it accept returned goods?

Collections 40

Collections Invoicing Accounts Receivable Accounts Receivable 40

Accounting Tools

AUGUST 3, 2023

Related Courses Credit and Collection Guidebook Effective Collections Essentials of Collection Law Debt collection for a small business can be a difficult endeavor. A smaller organization does not have the resources to invest in an expensive debt collection infrastructure.

Collections 40

Collections Invoicing Accounts Payable Accounts Payable 40

Accounting Tools

OCTOBER 5, 2023

Related Courses Credit and Collection Guidebook Essentials of Collection Law The Interpretation of Financial Statements A credit manager is responsible for the entire credit granting process. Supervises Credit analyst staff Related Articles Finance Manager Financial Analyst Treasurer Occasional overtime may be necessary.

Corporate Finance 40

Corporate Finance Collections Financial Statements Accounting 40

Accounting Tools

JULY 29, 2023

Related Courses Credit & Collection Guidebook Effective Collections The collections clerk position is accountable for collecting the maximum amount of overdue funds from customers , which may include a variety of customer location techniques, collection methods, legal claims, and the selective use of outside collection services.

Collections 40

Collections Invoicing Accounting Accounting 40

Accounting Tools

MAY 10, 2024

Related AccountingTools Courses Credit and Collection Guidebook Effective Collections Credit Policy Main Body The main body of the policy can include a number of statements regarding credit policy, along with more detailed application information. Related Articles Credit Analysis Credit Granting Procedure Five Cs of Credit

Collections 40

Collections Accounts Receivable Accounts Receivable Account Receivables 40

Accounting Tools

JUNE 15, 2023

Related Courses Credit and Collection Guidebook Effective Collections Essentials of Collection Law What is a Dunning Letter? The credit department staff may periodically change the timing or content of these automatically-generated letters, if they feel that some variation will improve the rate of collection.

Collections 75

Collections Invoicing Accounts Receivable Accounts Receivable 75

Counto

FEBRUARY 24, 2024

Understanding IRAS: A Guide for SMEs and Business Owners The Inland Revenue Authority of Singapore (IRAS) stands as the country’s foremost agency responsible for tax administration. Roles and Responsibilities of IRAS IRAS shoulders two major functions: tax collection and advisory services to the government.

Collections 52

Collections Tax Financial Reporting Accounting 52

Accounting Tools

JUNE 15, 2023

Related Courses Credit and Collection Guidebook Effective Collections Essentials of Collection Law What is a Credit Application? Additional information may be used in making a credit decision, such as a credit report from a credit rating agency and information received from the credit references supplied by the applicant.

Collections 40

Collections 40

Accounting Tools

JULY 30, 2023

Related Articles Agency Shop Bargaining Unit Collective Bargaining The Difference Between an Open Shop and a Closed Shop The main difference between an open shop and a closed shop is that union membership is required to work in a closed shop.

Collections 40

Collections 40

Accounting Tools

JULY 23, 2023

Related Courses Credit and Collection Guidebook Effective Collections Essentials of Collection Law What is the Procedure for Collections? The collections staff may deal with an enormous number of overdue invoices. The detailed collection procedure is listed below. The steps are noted below.

Collections 40

Collections Invoicing Accounting Software Accounts Receivable 40

Accounting Tools

AUGUST 8, 2023

Related Courses Credit and Collection Guidebook Financial Forecasting and Modeling Payables Management What is an Aging Schedule? Related Articles Aging of Accounts An aging schedule is a report that itemizes payables and receivables into different categories based on their creation dates.

Collections 40

Collections Accounts Payable Accounts Payable Accounting Software 40

Accounting Tools

SEPTEMBER 6, 2023

Related Courses Credit and Collection Guidebook Effective Collections How to Forecast Bad Debt It is quite difficult to derive a forecast of bad debts , since a number of variables impact the ability of a customer to pay an invoice , and those variables are difficult to anticipate.

Collections 40

Collections Invoicing Accounts Receivable Accounts Receivable 40

Accounting Tools

JULY 27, 2023

Related Courses Credit and Collection Guidebook Effective Collections What is a Credit Policy? A credit policy contains guidelines that structure the amount of credit granted to customers , as well as how collections are to be conducted for delinquent accounts.

Collections 40

Collections Financial Statements Accounts Receivable Accounts Receivable 40

Accounting Tools

DECEMBER 10, 2023

Creditworthiness is based on the credit application , credit references , and financial statements supplied to the party granting credit, as well as a credit report supplied by a third party credit reporting agency, such as TransUnion or Experian. The Risk of Default The reverse of creditworthiness is the risk of default.

Financial Statements 40

Financial Statements Collections Billing 40

Accounting Tools

SEPTEMBER 6, 2023

Related Courses Credit and Collection Guidebook Effective Collections Essentials of Collection Law How to Receive Check Payments by Fax It is possible to receive a check payment from a customer by fax. The end result of this process is the complete elimination of mail float from the collections process.

Collections 40

Collections Deposits Invoicing 40

Counto

JANUARY 10, 2024

This government initiative, administered by the Singapore Workforce Development Agency, aims to partially cover the manpower costs associated with sending employees for training or workshops. Submit Application: Submit your application through the relevant government agency’s online portal or by mail.

Payroll 52

Payroll AP Collections Accounting Software 52

Accounting Tools

APRIL 8, 2024

You will have problems collecting accounts receivable if an order is shipped to a customer with a bad credit rating. The collections staff reviews all overdue accounts receivable using collections software, using it to contact customers and discuss their payment situations. Overdue accounts analysis. Write-off approvals.

Accounts Receivable 40

Accounts Receivable Accounts Receivable Account Receivables Accounting 40

Accounting Tools

JUNE 17, 2023

Related Courses Credit and Collection Guidebook Effective Collections What is a Credit Reference? Credit Reports A more formal version of a credit reference is a credit report , which is compiled by a third party credit reporting agency that specializes in such information, such as Experian, Equifax, and TransUnion.

Collections 40

Collections 40

Accounting Tools

JANUARY 30, 2024

Related AccountingTools Courses Credit and Collection Guidebook Effective Collections Arbitration Clause Both parties agree to arbitration of any payment disputes. It is not likely that the fees will actually be collected, but it may be worthwhile to insert the clause just to provide the company with extra collection leverage.

Collections 40

Collections Invoicing Accounting Accounting 40

Accounting Tools

OCTOBER 1, 2023

Collect Overdue Receivables Examine accounts receivable to see if there are any overdue invoices. This may include a more rapid shifting of seriously overdue receivables to a collection agency , when more aggressive action appears warranted. Doing so simplifies the company’s product line , making it easier to run the company.

Collections 40

Collections Accounts Payable Accounts Payable Accounts Receivable 40

Accounting Tools

JANUARY 30, 2024

Skip tracing is needed in order to collect on overdue accounts receivable. In this article, we discuss several skip tracing techniques for locating people who are trying to cover their tracks, so that they can avoid paying overdue bills. What is Skip Tracing? Skip tracing is the art of locating a debtor who does not want to be found.

Collections 40

Collections Data Entry Accounts Receivable Accounts Receivable 40

Accounting Tools

DECEMBER 20, 2023

How to Measure Default Risk Default risk is measured with the ratings issued by credit rating agencies. Many larger businesses develop their own default risk scores, rather than using a rating agency’s score. They have a proprietary measurement system that uses a number of factors to arrive at a score for each targeted party.

Corporate Finance 40

Corporate Finance Collections 40

Accounting Tools

NOVEMBER 7, 2023

Collect Receivables Faster You can add staff and use a variety of procedures to accelerate the payment of accounts receivable by customers. Issue Commercial Paper Commercial paper is quite inexpensive, but only available to large firms with a high rating from a credit rating agency.

Accounts Receivable 75

Accounts Receivable Accounts Receivable Account Receivables Corporate Finance 75

Accounting Tools

OCTOBER 12, 2023

Related Courses Credit and Collection Guidebook Effective Collections What is Credit Risk? In both cases, the party granting credit may also incur incremental collection costs. A final analysis is to buy a credit report from a credit reporting agency that delves into the specific financial performance of the business.

Collections 75

Collections Accounts Receivable Accounts Receivable Account Receivables 75

Accounting Tools

MAY 19, 2023

Related Courses Credit and Collection Guidebook What is a Credit Limit? The amount of the credit limit is based on a number of factors, such as the following: A customer’s credit score, as calculated by a credit rating agency. A credit limit is the maximum amount of credit offered to a customer.

Financial Statements 40

Financial Statements Collections 40

Accounting Tools

AUGUST 24, 2023

Related Courses Essentials of Employment Law Human Resources Guidebook Payroll Management What is Collective Bargaining? Collective bargaining is the process of negotiating a labor contract between an employer and a union. Related Articles Agency Shop Bargaining Unit

Collections 40

Collections Payroll 40

Accounting Tools

JUNE 16, 2023

When to Use the Completed Contract Method The completed contract method is used when there is uncertainty about the collection of funds due from a customer under the terms of a contract. However, the delay in income recognition allows a business to defer the recognition of related income taxes.

Financial Statements 40

Financial Statements Billing Collections Auditing 40

Accounting Tools

JULY 25, 2023

You can also evaluate the reasonableness of an allowance for doubtful accounts by comparing it to the total amount of seriously overdue accounts receivable, which are presumably not going to be collected. If the allowance is less than the amount of these overdue receivables, the allowance is probably insufficient.

Accounting 40

Accounting Accounting Accounts Receivable Accounts Receivable 40

Billah and Associates

MARCH 16, 2023

When tax slips come and the May 1 deadline draws near, Canadians are collecting their T4s and receipts, but many may not be aware of the tax deductions and tax credits for 2023 that are available to them. This article will highlight some tax deductions and credits in 2023 that Canadians can avail of and save money.

Tax 52

Tax Corporation Tax Budgeting Collections 52

Counto

JANUARY 16, 2024

Hold a collective equity stake in the company, with a minimum ownership of 30%. First-time founders with no prior Pte Ltd entity registered with ACRA. Act as key decision makers 3. Do not hold external employment where the employer contributes CPF for them. Have completed entrepreneurship training.

Collections 52

Collections Accounting Accounting 52

Jetpack Workflow

AUGUST 24, 2023

In this article, you’ll find a free set of templates to help you get started. Follow up if needed to collect payment and be sure you sent the invoices to the appropriate customers. This way, they can take further action, such as contacting a collection agency.

Reconciling 52

Reconciling Accounting Accounting Payroll 52

Accounting Tools

AUGUST 27, 2023

The primary fee of the underwriter is a percentage of the total amount of funds collected. The company’s legal staff will also submit filings to the securities agencies of those states in which the company anticipates selling shares. The company negotiates the terms of a letter of intent with its preferred underwriter.

Collections 40

Collections Financial Statements Accounting Accounting 40

Nanonets

JULY 25, 2023

In this article, we will explore what financial reporting automation entails, its benefits, key features, areas that can be automated, and how Nanonets can contribute to this automation journey. It involves automating repetitive tasks, data collection, data consolidation, report generation, and ensuring accuracy and compliance.

Financial Reporting 52

Financial Reporting Data Entry Financial Statements Budgeting 52

Jetpack Workflow

DECEMBER 5, 2023

In this article, we share their secrets to growth, which you can implement in your firm. That can give them a sense of collective support, improving their satisfaction and your working relationship. Be sure to work with agencies that vet qualified accounting professionals capable of stepping in and handling the services you provide.

Accounting 52

Accounting Accounting Data Entry Invoicing 52

Nolan Accounting Center

OCTOBER 26, 2022

In this article, we’ll offer you some tips for managing your small business, whether you want to save your business or allow it to close. If you’ve got multiple creditors/collection agencies, consider outsourcing your debt issues to a debt-relief company.

Payroll 52

Payroll Bookkeeping Tax Collections 52

Remote Quality Bookkeeping

JUNE 19, 2023

This article will explore some of the most common expenses related to running a small business and how you should categorize them when trying to get an accurate picture of the expense side of your business. Sometimes, you’ll pay these to local and federal government agencies.

Bookkeeping 52

Bookkeeping Budgeting Tax Payroll 52