{"id":1065,"date":"2017-01-14T16:54:22","date_gmt":"2017-01-14T16:54:22","guid":{"rendered":"https:\/\/www.aiminsight.com\/?p=1065"},"modified":"2021-02-17T12:44:34","modified_gmt":"2021-02-17T20:44:34","slug":"receivables-too-high","status":"publish","type":"post","link":"https:\/\/www.aiminsight.com\/blog\/uncategorized\/receivables-too-high\/","title":{"rendered":"Receivables too high"},"content":{"rendered":"<ul>\n<li>AP and AR trial balances need to be manually reviewed to determine the net balance for entities that are both a customer and a vendor.<\/li>\n<li>Payments are made to vendors who are also customers and who actually owe the company money.<\/li>\n<li>You have to enter in transactions to clear the AR or AP balance and then enter additional transactions in the opposite module.<\/li>\n<li>Transactions could be entered incorrectly or missed, causing great difficulty in recovery of those transactions.<\/li>\n<li>Collection efforts are made for customers who do not really owe you money.<\/li>\n<li>You have difficulty managing customers who are national accounts.<\/li>\n<li>There are problems with the way you manage them. You manually group customers for credit watch.<\/li>\n<li>There is unacceptable credit exposure to customer groups.<\/li>\n<li>Payments are sometimes misapplied. You are not able to follow up on collection issues in a timely manner, or you are not able to follow up at all.<\/li>\n<li>You are incurring increasing bad debt.<\/li>\n<li>Receivables are too high.<\/li>\n<li>You are missing deadlines and follow-ups.<\/li>\n<li>When a new trial balance is printed, all the notes are transferred to the new report.<\/li>\n<li>You have a manual process to generate collections letters and emails for each customer.<\/li>\n<li>The activity is redundant.<\/li>\n<li>Letters are processed manually for customers with past due accounts, but that takes too much time.<\/li>\n<li>Emails are typically generated either one at a time, in batches, or in groupings. Hard copies of letters are kept to track the history, but that costs too much.<\/li>\n<li>You are unable to analyze customer data.<\/li>\n<li>You have to manually review AR aging to identify customers who have or who are developing credit issues.<\/li>\n<li>You are unable to capture all customers that are in need of collection efforts.<\/li>\n<li>Tracking account history is difficult.<\/li>\n<li>When a new trial balance is printed, not all the notes are transferred to the new report.<\/li>\n<li>If a legal situation arises due to the nonpayment of invoices, your company does not have all proper collection documentation.<\/li>\n<li>This information is not recorded manually.<\/li>\n<li>There is a potential that information could be lost.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>AP and AR trial balances need to be manually reviewed to determine the net balance for entities that are both a customer and a vendor. Payments are made to vendors who are also customers and who actually owe&#8230; <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-1065","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.aiminsight.com\/blog\/wp-json\/wp\/v2\/posts\/1065","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.aiminsight.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.aiminsight.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.aiminsight.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.aiminsight.com\/blog\/wp-json\/wp\/v2\/comments?post=1065"}],"version-history":[{"count":2,"href":"https:\/\/www.aiminsight.com\/blog\/wp-json\/wp\/v2\/posts\/1065\/revisions"}],"predecessor-version":[{"id":1738,"href":"https:\/\/www.aiminsight.com\/blog\/wp-json\/wp\/v2\/posts\/1065\/revisions\/1738"}],"wp:attachment":[{"href":"https:\/\/www.aiminsight.com\/blog\/wp-json\/wp\/v2\/media?parent=1065"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.aiminsight.com\/blog\/wp-json\/wp\/v2\/categories?post=1065"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.aiminsight.com\/blog\/wp-json\/wp\/v2\/tags?post=1065"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}