• Home
  • Managerial
  • Billing and collections : best practices by Steven M. Bragg

Billing and collections : best practices by Steven M. Bragg

By Steven M. Bragg

Billings and Collections most sensible Practices bargains recommendation for imposing a plethora of top practices to significantly enhance your company's point of potency in info reporting, together with:

  • Showing you ways to create a extra effective billing operation.
  • Demonstrating how one can lessen the mistake cost on accounts despatched to customers.
  • Revealing particular steps that you can lessen the volume of exceptional receivables.
  • Providing directions on how one can restructure bill codecs to shorten the cost interval.
  • Detailing the right way to create a database for habitual billings and the way to take care of its accuracy.

Order your reproduction this day!

Show description

Read Online or Download Billing and collections : best practices PDF

Similar managerial books

Throughput Accounting: A Guide to Constraint Management

Compliment for Throughput Accounting: A consultant to Constraint administration '' Throughput Accounting presents managers with a clean set of eyes to spot and regulate bottlenecks. The drum, buffer, and cord becomes a part of the fee accounting lexicon sooner or later. '' —Geoffrey Garland, Controller, StacoSwitch, Inc.

Internationale Rechnungslegung: Jahresabschluss nach HGB, IAS und US-GAAP Grundlagen — Vergleich — Fallbeispiele

Das externe Rechnungswesen erlebt zurzeit eine stürmische Entwicklung. Immer mehr international participant müssen ihren wachsenden Kapitalbedarf über internationale Finanzmärkte decken. Sie erstellen ihren Konzernabschluss deshalb nicht mehr nach dem HGB sondern nach internationalen criteria. Dieses Lehrbuch vermittelt das Basiswissen der Rechnungslegung nach HGB, IAS und US-GAAP klar und verständlich.

Wiley Revenue Recognition plus Website: Understanding and Implementing the New Standard

Every thing you must comprehend and enforce the recent converged FASB-IASB profit attractiveness common Wiley profit reputation offers an summary of the hot profit popularity regular and instructs financial plan preparers step by step in the course of the new version, delivering a variety of, important program examples alongside the way in which.

Additional resources for Billing and collections : best practices

Sample text

Personal guarantee. Company owners frequently have substantially more assets than their companies, so obtaining a personal guarantee is certainly worth a try. A customer who grants this guarantee is also more likely to obtain a larger line of credit. At worst, the customer will cross out this part of the application. ■ Reimbursement for collection fees. The collection department may resort to the use of a collection agency or attorney to collect a past-due account. By having the customer agree in advance to reimburse the company for these added expenses, it may be possible to use the threat of this clause to accelerate customer payment.

Even with all of this information available on-screen from a computer system, a large number of callers can take up a considerable amount of staff time. For the small number of large companies that are subject to this problem, the installation of an automated credit reference system may make sense. Under this approach, callers are routed to a phone line that asks them for the customer’s Credit Policies, Procedures, and Systems / 31 identification number, after which the system returns the customer’s total amount past due, high credit, total owed, credit limit, payment terms, and number of years doing business with the company.

It is necessary to have a spare date field available in the credit database in order to enter this information. Also, the credit file must be indexed to information in other tables, such as customer orders or sales volume, returns, bad debts, or late payments, in order to make this information relevant. 18 Call New Customers and Explain Credit Terms When a new customer receives its first invoice from a company, the standard sequence of events for the accounts payable staff is to enter the “pay to” information in the computer system, accept the corporate default payment days (such as 30), and press the ENTER key.

Download PDF sample

Rated 4.68 of 5 – based on 29 votes