In the world of finance and accounting, a lot of terms sound more intimidating than they actually are. “Write-off” and “write-on” are two of those phrases that tend to confuse people at first glance, but once you break them down, they’re pretty straightforward. They’re important tools for managing the accuracy of financial records, and they… Continue reading Understanding Write-Offs and Write-Ons
Tag: debt recovery
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
Mastering MBR for Collections Teams: Strengthening Internal and Client Collaboration
In the world of collections, managing overdue invoices is not just about sending reminders or making calls. It requires a structured approach, clear communication, and continuous performance tracking. One of the most effective tools for ensuring efficiency in collections is the Monthly Business Review (MBR). An MBR serves two critical functions: A well-executed MBR ensures… Continue reading Mastering MBR for Collections Teams: Strengthening Internal and Client Collaboration
