By John G. Salek
International enterprise, carried out on a credits or cash-on-delivery foundation, frequently produces debts receivable which are a good portion of a corporation's tangible resources, but a lot of those self same organizations be aware of debts receivable in basic terms in a difficulty. advisor Salek helps coping with money owed receivable as one might a portfolio and handling the dep. as lively in profitability, with suggestion at the approaches that bring about receivables, in receivables asset administration, in making a choice on and utilizing know-how to aid receivables, and in organizational constitution, reporting and metrics, acquisitions, and outsourcing. He even comprises luck tales.
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Extra resources for Accounts Receivable Management: Best Practices
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.
2. Postshipment and generation of the original invoice a. Deliver the invoice electronically or via overnight courier. b. Confirm receipt of the invoice and the customer’s agreement with it a few days after it is delivered. This will identify any disputes early, so resolution can begin. Again, this should be couched in terms of a customer service call. Inquire about the status of the installation of the equipment and if there are any issues, but work toward the invoice and payment subject. All issues identified should be routed to service or sales for remediation.
Over a period of four months, assuming no bad debt loss and the customer paying promptly, thereby maintaining its receivable at $100,000, a specific reserve would exist sufficient to totally cover the $100,000 exposure to bad debt loss. At that point, the specific provisioning would be tailored to maintain the reserve at the same level as the receivable. The company will have gained the profit from the additional sales yet still have recognized the risk of a potential bad debt loss. , enforced).