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5 Accounts Receivable Collection Mistakes You Should Avoid

Gaviti

This mindset often leads to underinvestment in collections efforts, and when budget cuts are necessary, accounting departments like collections are typically the first affected. However, maintaining a steady cash flow is essential for business survival, and efficient collections directly impact the bottom line.

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The lingering impact of the pandemic on IRS collections

Accounting Today

IRS data and changes to collection operations over the past four years show 10 clear effects.

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Top 10 Collection Reminders Writing Tips

Gaviti

Managing accounts receivable can be challenging, but having a structured approach to writing collection reminders can make a significant difference. Having a defined plan will help you to act systematically in order to collect your receivables in a timely manner. Other customers might want to be able to send electronic payments.

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IRS collects $1B from millionaires

Accounting Today

The agency is hoping to counter a widespread impression that people can get away without paying their taxes, according to Commissioner Werfel.

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Outsourcing Vs. In-House: The Ultimate Battle For Better Collections

Speaker: Susan Richards

The big question: Do you handle the collections internally or outsource to experts? Discover how to build a collections strategy that aligns with your company’s financial goals while maintaining strong customer relationships and minimizing bad debt. Your past-due accounts are growing, cash flow is tightening, and the pressure is on.

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What data can, and should, small businesses collect about their customers?

Xero

I always feel energised after these meetings and in this one we had a fascinating discussion around data collection minimisation. Anna kicked off the discussion by asking the group to think about the (over) collection of gender data. It is a key concept underpinning responsible data use. Privacy by design.

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IRS collection notices are coming back

Accounting Today

Tax pros and taxpayers should be aware that the IRS is restarting its 'collection notice stream.'