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Thea Dudley

Thea Dudley
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virtual filing cabinet- thea dudley

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.
virtual filing cabinet- thea dudley

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.
virtual filing cabinet- thea dudley

Understanding credit insurance

If we have credit insurance on the accounts receivable is there any reason the company would still need me?
virtual filing cabinet- thea dudley

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.
virtual filing cabinet- thea dudley

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.
virtual filing cabinet- thea dudley

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?
virtual filing cabinet- thea dudley

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!
virtual filing cabinet- thea dudley

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?
virtual filing cabinet- thea dudley

What to do about personal guarantees on credit applications

What can you do when a potential customer refuses to sign the personal guarantee on your credit application?
virtual filing cabinet- thea dudley

Liability when extending credit

As a supplier, is there any liability in extending credit to a contractor whose workers compensation insurance isn’t current/active?

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