Let’s say you have a large customer with a huge number of small-dollar unapplied credit memos, invoices, unapplied cash, debit memos, and deductions. For arguments sake, let’s suppose you can round up 1,200 credit memos totaling $625,000, and 1,600 deductions totaling $615,000, all un-matched for one reason or another. So you have a great idea to get rid of 2,800… Read more »
End of the year – Days Sales Outstanding
Well, here we are again – the end of another year. While you review your balance sheet all year, December is when you scrutinize it upside down and inside out. What did you do right throughout the year? What can be tightened up? Days Sales Outstanding – or “DSO” – is one of the metrics… Read more »
Automation For New Account Credit Applications
“Back to the Future” in Credit Management Marty McFly would recognize today’s business credit applications as going back to his grandfather’s generation. Little has changed – until now, that is. The Credit2B ECOS™ Platform changes all this, as it completely automates and accelerates the on-boarding of new customers, even integrating industry sector trade, customer trade… Read more »
Calculating Bad Debt Reserves
In most companies, calculating Bad Debt Reserves is not a super-complex affair, but should be approached with a consistent methodology from period to period. Generally Accepted Accounting Procedures (GAAP) requires that a Bad Debt Allowance (BDA), which is a forecast – an estimate of future bad debt write-offs, vs just directly writing off bad debts as… Read more »
Leib Joins the Smyyth-Creditek Companies
We are proud to announce that Leib Solutions LLC has become one of the Smyyth companies, joining Smyyth LLC, Creditek, Carixa, and Credit2b.Com, all leaders in their respective fields of B2B credit, collections, deductions and accounts receivable management, offering expert outsource services and best-in-class technology. For information, contact Carl Torban, Chief Operating Officer.
