In the world of business, not every sale turns into cash. As much as we’d like to believe that every customer will pay on time, or at all, reality often proves otherwise. This is where the concept of the bad debt reserve comes into play. It’s a critical accounting practice that many companies use, but… Continue reading What Is a Bad Debt Reserve and Why It’s Important for Businesses
Tag: debt collection
Understanding the Different Levels of Refund Requests to Suppliers in France
When businesses in France deal with suppliers, they may find themselves in a position where they are owed money due to credit notes, returns, overpayments, or other outstanding balances. Requesting refunds from suppliers is a structured process that follows different levels, depending on the circumstances. In this article, we will explore the various types of… Continue reading Understanding the Different Levels of Refund Requests to Suppliers in France
The Importance of Statements of Account and Dunning Letters in Business
Managing customer payments efficiently is a crucial part of running a successful business. Late or missed payments can disrupt cash flow, affect profitability, and create unnecessary financial strain. Two important tools that businesses use to manage receivables are statements of account and dunning letters. These tools help companies maintain transparency, remind customers of outstanding invoices,… Continue reading The Importance of Statements of Account and Dunning Letters in Business
