Home Authors Posts by Thea Dudley
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How much can I charge for a past due fee?
Dear Thea, We are currently charging late fees for past due invoices. We want to see if there are any guidelines out there for what to charge our customers. Thank you.
Everyone can win when a cash bond is involved
Dear Thea, We had a recent inquiry from a prospective customer with poor business credit wanting to use a $10K cash bond to secure a line of credit with us.
The trouble with third-party credit agencies
If a cow doesn’t produce milk is it a milk dud or an udder failure? If your third-party credit agency isn’t working for you, why are they working for you?
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.
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.
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.
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.
Understanding credit insurance
If we have credit insurance on the accounts receivable is there any reason the company would still need me?
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.
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.