Accounts Receivable Management: Best Practices by John G. Salek

By John G. Salek

Worldwide enterprise, carried out on a credits or cash-on-delivery foundation, usually produces debts receivable which are a good portion of a corporation's tangible resources, but a lot of those self same agencies be aware of bills receivable basically in a trouble. advisor Salek helps coping with debts receivable as one may a portfolio and handling the dep. as energetic in profitability, with recommendation at the tactics that result in receivables, in receivables asset administration, in selecting and utilizing know-how to help receivables, and in organizational constitution, reporting and metrics, acquisitions, and outsourcing. He even comprises good fortune tales.

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Best Practice is to present invoices electronically (Electronic Data Interchange [EDI], Electronic Invoice Presentation and Payment [EIPP], or other electronic means), to bill as quickly as possible, and to ensure it is accepted by the customer. If a customer claims not to have received invoices, it is prudent to check the electronic confirmation of receipt with a phone call to the customer to ensure the invoices were routed to the proper department within the customer. 3. Unbilled receivables are receivables where the service or product has been delivered, the revenue has been recognized, but the invoice has not been generated.

The profit margin was sufficient to cover bad debt loss over a period of several years and still generate a satisfactory return. • It was consistent with the strategic goal. Such a decision was unusual and bold (and not generally recommended). An analysis after the first three years of the program revealed that the number of risky customers who paid in full far exceeded those who failed to pay. The overall profitability of the program surpassed targets. Clearly, tight credit controls would have prevented sales whose profit would have exceeded the bad debt loss incurred, resulting in a lower overall profit.

The global marketplace runs on credit. Goods and services are routinely delivered with the expectation that payment will be made according to the agreed payment terms. Credit risk has two dimensions. The first is the risk that payment will never be made. This loss is known as bad debt. The second risk is that payment will be made late; that is, beyond agreed payment terms. This loss is known as delinquency. It is considered a loss on the basis that a company will have to borrow money and pay interest to replace the funds not received on time.

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