Home Authors Posts by Thea Dudley

Thea Dudley

Thea Dudley
18 POSTS 0 COMMENTS
Thea Dudley lien

The state of state lien laws

The mechanics lien process and all its related glory is by far the number one topic I get asked most about, and it's the most misunderstood and under-utilized tools in the credit and sales tool kit.
Thea Dudley lien

Five steps to cashflow nirvana

Lack of cashflow is one of the top three reasons businesses fail, along with poor management and partnerships. I would add “making someone else’s problems your problems” to that list.
Thea Dudley lien

Credit Q&A special edition: COVID-19 vs. Your Cashflow and A/R

Take the COVID-19 crisis as a serious wakeup call and revamp, improve, streamline, and update your credit and collections processes.
Thea Dudley lien

It’s time to convert to a virtual filing cabinet

A virtual filing cabinet is easy to set up. Select a place where it will “live” at your company, such as your shared drive, then password protect it.
Thea Dudley lien

Understanding credit insurance

If we have credit insurance on the accounts receivable is there any reason the company would still need me?
Thea Dudley lien

Double dipping credit card discounts

Dear Thea, We are considering an announcement to our customers that credit card payments will be exempt from their discount.
Thea Dudley lien

No discount on sales tax or delivery charges

Dear Thea, We have never allowed customers to take their discount on sales tax or delivery charges. We don’t allow the discount on sales tax due to the fact that we have to remit the full amount to the state, not the discounted amount.
Thea Dudley lien

When to ask for updated credit applications

How often should we be getting updated credit applications signed by our customers? Is there a period of inactivity on the account that should be a factor to consider if we ask the customer to sign the forms again?
Thea Dudley lien

Oxymorons in the credit department

Dear Thea, If I hear the phrase “He has been a great customer with us forever. He always pays, he just runs slow,” I will scream!
Thea Dudley lien

Best practices for retention balances

My question is about retention. If prompt payment has happened throughout a project, would it be necessary to file a lien or bond claim for the retention balance?

What's New