“Wash” Credits and Debits ?

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What is a “Wash” of accounts receivable credits and debits? An accounting “Wash” is a process of taking a series of credit and debit transactions of roughly equal dollars and mass-matching them (the “wash”) to clear the books, resulting in a zero balance. In accounts receivable, this refers to unapplied cash and credit memos vs…. Read more »

Curing Slow Pay Customers

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Training Chronic Slow Paying Customers  Debtor psychology is that if their debt is 180-360 days old, they figure they’ll never have to pay it, certainly not the full amount. Chronic slow-paying customers can be re-trained to be profitable, long-term relationships, but they require constant attention so that they do not age out to the point… Read more »

Accounts Payable Overpayments Auditing

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Recapturing Accounts Payable Payment Errors Accounts payable overpayments cost billions every year, and most are due to routine manual, computer, or other processing mistakes. Some are systemic; for example, vendor master errors go on forever. After all, who is going to advise you that you are not taking your cash discount? Smyyth’s Carixa AP Match… Read more »

Vendor Compliance Management

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Vendor Compliance Management chargebacks often total more than 1% of supplier revenue because of failure to comply with customer order, billing, and shipping requirements. “Vendor optimization” software has made generating deductions an automated process based on pre-set order guidelines and procedures, making it more critical than ever to ensure that your shipment accuracy is on-point… Read more »

August 7, 2020 Update Covid-19

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Updated August 7, 2020 To Our Customers, We continue operational, enable by our cloud, work-from-anywhere automation. To support our employees, most operations are being performed remotely, and we are fully “open for business” to serve you. Our technologies are built for 24×365 access from anywhere, and so it is possible to maintain services without losing… Read more »

Improving your bottom-line with AR automation

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Advanced technologies, including robotic process automation (RPA), will forever change accounts receivable, collections, and deduction management. For many companies, partly manual accounts receivable operations represent “low hanging fruit.” Like most other back-office functions, receivables management was a manual affair as recently as twenty or thirty years ago, working off printed agings, typing reconciliations and letters,… Read more »

Statute of Limitations for Contract Debts

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The Statute of Limitations for lawsuits varies by state, and runs anywhere from 3 to 15 years, after which the debt is “time-barred,” and you will be unable to sue.  You should use every legal means at your disposal, of course,  but if you wait too long and rely on a last-minute lawsuit as a… Read more »

Selecting a Deduction Management System

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Selecting cloud deduction management software starts with auto cash application software and extends to the deduction resolution and reconciliation process. Start with a set of basic specifications based on your own operational needs. As you review various systems, you will develop a list of must-haves, nice-to-haves, and not-that-important features. Implementing a cloud SaaS system can be easy if you… Read more »

Accounts Receivable Deduction Management Features

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Accounts receivable management is rife with functions that are only partially automated, still manual, or which need to be done offline, for example, by using Excel. The right system will encompass all of these and will automate, at a minimum, these features and eliminate offline processes: EDI capabilities from 810 invoice processing to 820 cash… Read more »

Why SaaS is Such a Powerful Solution

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In the past, companies bought, built, and maintained their IT infrastructures despite the huge costs because there was no choice. The Internet’s exploding bandwidth changed this, and Software as a Service (SaaS) is now a better alternative without the large investment. The SaaS model is growing exponentially because it offers serious business benefits. SaaS applications… Read more »