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Understanding the Definition and Meaning of Credit Balance

Discover the meaning of a credit balance and its significance in personal and business finances. Learn how to manage credit balances effectively, their benefits, drawbacks, and how South East Client Services (SECS) can help streamline your financial management.

How to Define and Calculate Bad Debt Expense

Learn how to calculate bad debt expense, including methods like Direct Write-Off and Allowance, and discover strategies to reduce unpaid invoices.

B2B Collections Best Practices to Improve Process Efficiency

Uncover best practices for B2B collections, including well-defined processes, multi-channel reminders, easy payment options, and A/R automation.

Is 746 a Good Credit Score and How to Improve It?

A 746 credit score is classed as 'very good', providing borrowers with superior rates on loans and credit cards.

What does a 779 credit score indicate?

A 779 credit score, viewed as 'very good', garners lenders' favor for lower interest rates and best credit offerings.

Understanding if a 754 credit score is good or bad

A 754 credit score, classified as 'very good', ensures high approval rates for loans with low interest rates.

Is 698 a good or bad credit score? Tips to improve it.

A 698 credit score falls within the "good" range. However, regular monitoring and keeping credit utilization below 30% can help improve it.

Tax-Deductible Bank Fees for Business

Ordinary and necessary bank fees like monthly maintenance, overdraft, transfer, and credit card processing fees are tax-deductible for businesses.

Understanding Debt to Asset Ratio: Definition, Formula and Calculation

Debt to Asset ratio = Total Debt / Total Assets. It assesses a company's leverage and financial health.

Buying a House After Debt Settlement Process

It is recommended to wait at least 2 years after debt settlement before applying for a mortgage due to credit score impact.

Understanding the Definitions and Uses of Credit Memo

A credit memo amends invoices, reducing the amount owed by buyers, used for legal adjustment of invoices without needing deletion.

Understanding the Implications of a 684 Credit Score

A 684 credit score falls in 'Good' range but reflects credit history with a few mistakes and moderate lending risks.

Examples of Credit Card Convenience Fee Wording and Surcharge Sign Templates

"Please note, a convenience charge of 1.5% applies to all credit card transactions" - clear examples of credit card convenience fee wording.

debt collection letter

Writing the First Debt Collection Letter: Dos and Don'ts

The first collection letter, an important tool in maintaining customer relationships, sends a message about your AR processes.

Understanding Commercial Debt Collection Laws and Agencies

Our blog details commercial debt collectors' operations, stressing on communication and negotiation of payment plans for debtors.

Tips to Improve Managing Your Accounts Receivable

Explore managing receivables with electronic billing, correct KPI application, set credit policies, automate processes, and involve all teams.

Understanding Debits and Credits in Accounting: Sales Perspective

When recording a sale, debit Accounts Receivable and credit Sales. This reflects earned revenue and increases in equity.

collection efficiency

Understanding Collection Efficiency and How to Calculate It

Learn to calculate collection efficiency: (Total Collectible Amount - Remaining Recovery Amount) / Total Collectible Amount, crucial for assessing receivables collection.

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