How Does a Controller Affect Accounts Receivable?

What is a Controller?
A controller is the head of an accounting department in the company and is in charge of all those within the accounting department, such as accounts payable clerks, accounts receivable clerks or payroll. Although these areas may be split into different departments among accounting, the controller is responsible for overseeing financial statements, general ledger, budgeting and tax compliance.
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Why You Should Be Hiring a Credit Manager

What is a Credit Manager?
A credit manager plays a vital role in a business’ accounting and accounts receivable department. If a business works on credit terms with other businesses, the credit manager is the deciding factor on whether those potential clients become customers. They are responsible for implementing and overseeing a credit policy, deciding what factors determine a customer’s credit worthiness and eligibility for receiving credit terms.
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What is a Trade Credit Report?

Many B2B businesses are offering credit terms to customers in order to purchase products. Especially when a business is purchasing an extremely costly item, allowing customers to pay for a product or service later creates a more accessible product to more potential customers. However, using credit terms is not always foolproof. You have to vet each potential customer and ensure that they are not at risk of never paying the full amount. In order to determine a customer’s credit worthiness, you should be referring to their trade credit report.
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What is a Bill of Lading and Why is it Important to Accounts Receivable

If you’re in the transportation and logistics industry, you’ll be pretty familiar with the Bill of Lading. A bill of lading is a contractual agreement with a company and their client. All of the terms of the business are laid out in the bill of lading, from what items are being shipped, to how much it will cost and when it needs to be paid. This means that the bill of lading is much more important than a receipt, as many people consider in the transportation industry.
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What is ACH?

ACH, or Automated Clearing House, is one of the fastest growing payment options in the U.S. Many consumers and businesses may actually be using ACH payments every day and not even realize this. In fact, the Electronic Payments Association states that each year ACH accounts for 23 billion electronic financial transactions and is responsible for moving more than $40 trillion annually. Think back to the last time you paid a bill online or received your tax refund electronically, it most likely came through ACH.
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What is an Accounts Receivable Aging Report?

The only way to be able to manage and see exactly who owes you money and when in the collections department is by using an accounts receivable aging report. It is one way to keep everything organized and keep your team on track. Those that are latest in your aging report, get the first call. Many collections departments use the accounts receivable aging report as their go to reference for all their customers and open invoices.
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