Understanding DSO

Days Sales Outstanding (DSO) is a widely used method to help evaluate how effective a company is at collecting receivables. This metric is used to measure the average number of days it takes a company

By |May 20, 2017|Accounting Glossary|Comments Off on Understanding DSO

Collections Representative

What is a collections representatives? A collections representative does the brunt of hard work in the accounts receivable department. These are people that are actively calling and emailing accounts to attempt to collect from past

By |March 24, 2017|Accounting Glossary|Comments Off on Collections Representative

Controller

What is a Controller? A controller is the head of an accounting department in the company and is in charge of all those within the accounting department, such as accounts payable clerks, accounts receivable clerks

By |March 3, 2017|Accounting Glossary|Comments Off on Controller

Credit Manager

What is a Credit Manager? A credit manager plays a vital role in a business’ accounting and accounts receivable department. If a business works on credit terms with other businesses, the credit manager is the

By |March 3, 2017|Accounting Glossary|Comments Off on Credit Manager

Bill of Lading

If you’re in the transportation and logistics industry, you’ll be pretty familiar with the Bill of Lading. A bill of lading is a contractual agreement with a company and their client. All of the terms

By |February 17, 2017|Accounting Glossary|Comments Off on Bill of Lading

Trade Credit Report

Many B2B businesses are offering credit terms to customers in order to purchase products. Especially when a business is purchasing an extremely costly item, allowing customers to pay for a product or service later creates

By |February 17, 2017|Accounting Glossary|Comments Off on Trade Credit Report

Accounts Receivable Factoring

One of the most important assets of a business is your accounts receivable. Without proper cash flow, you cannot continue to pay for labor, equipment or product and your business will fail. In dire cases,

By |February 17, 2017|Accounting Glossary|Comments Off on Accounts Receivable Factoring

Receivables Document Management

Document management solutions were created for a very simple reason. Businesses realized that having to maintain hundreds of thousands of paper files and important documents was risky. If all documents are stored in a file

By |February 17, 2017|Accounting Glossary|Comments Off on Receivables Document Management

AP -vs- AR

There are a lot of different terms in the accounting profession that are very unique. You would not find this type of language outside of business and accounting, which means it can become very confusing

By |February 17, 2017|Accounting Glossary|Comments Off on AP -vs- AR
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