Understanding and Managing Bad Debt: A Comprehensive Guide
Managing bad debt is a crucial aspect of business operations, particularly during economic uncertainty. When clients fail to pay invoices, these unpaid amounts become bad debt expenses that impact cash flow and potentially threaten business stability. This guide explores the fundamentals of bad debt management and provides practical approaches for handling it effectively. Understanding Bad…
5 Tips to Track Your Accounts Receivable Effectively
A/R tracking is essential at a time of economic uncertainty. Doing it effectively leads to better cash flow management, which is a priority whether you’re a small business or a corporation. The alternative? Risking a cash crunch, which could lead to bankruptcy. In order to not only survive, but thrive in the current climate, we’re…
What Is Days Sales Outstanding (DSO): The Lifeline of Accounts Receivable
In the world of accounts receivable (AR), your department serves as the lungs of your business, ensuring fresh cash flows to where it needs to go. And just as oxygen is essential for life, cash flow is vital for business survival. For B2B companies that primarily operate on credit terms, understanding your available cash and…
Revolutionising Council Debt Collection: A Comprehensive Approach for London’s Local Authorities
In the heart of one of the world’s most dynamic cities, London’s local councils face a multifaceted challenge: efficiently collecting various types of debts while maintaining a delicate balance between fiscal responsibility and social empathy. From vehicle fines to council tax and beyond, the capital’s 32 boroughs and the City of London Corporation must manage…
