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Our Subscribers Say...
"There are numerous credit periodicals available to the credit professional today. How good is Credit Today? Is it relevant? I always have to read it late, or online because my credit analysts want to read it the minute it comes in. When my staff wants to read a publication before I have a chance to read it then something is working in that publication. We have cancelled our other subscriptions. When you have the best you do not need the rest."
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Corporate Credit Manager-World Wide
Thales Navigation, Inc.
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Fulton Paper Company
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Kimberly-Clark Customer Financial Services
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Paul Brunner
Corporate Credit Manager
Mitsubishi Electric Automation, Inc. |
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Credit Today Sample Articles
Thank you for coming to Credit Today's Members-only website. Here are just a few samples of material you'll find here. Most is available only to Members. Take a look around and enjoy your stay here at Credit Today! We look forward to you joining our community of happy members and becoming a full member yourself soon!
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Corporations Play It Safe With Reserves for Bad Debts
For the past two years bad-debt reserves have exceeded actual write-offs to bad debts by over 11 times, according to this month's Credit Today mini-benchmarking survey. Forward looking, data suggest corporations are being even more cautious in fiscal year 2008. In many companies, determining the reserve for bad debts is as much an art as a science. Even if you base the calculation on a historical standard such as the percentage of yearly sales that end up being written off as bad debts, what is to say this year's receivables will bear any resemblance to those of the past? . . . keep reading
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Minimizing Your Company's Escheatment Exposure: Three Questions to Ask When Developing Procedures to Minimize Your Unclaimed Property Liabilities
By Karen Anderson
Is your credit department next? You may not realize it, but increasingly, A/R portfolios are the targets of "unclaimed property" audits by states seeking to find out if you have old, unused credit memos on the books. Recent news reports have detailed astonishing liabilities owed as a result of these audits. These increasingly likely audits should serve as a wake-up call for corporate credit professionals. While state unclaimed property officials and their third-party audit agents may have overlooked accounts receivable in the past, the money they can find in A/R portfolios has gotten their attention, and they are now actively pursuing customer credits as reportable unclaimed property. In addition, since customer credits have been a neglected item in the past, the liability for penalties and interest for failure to timely report and remit this property may be significant, as penalties and interest are most often calculated based on the time between when the funds should have been reported and when they are actually reported. . . . keep reading
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Credit Today Now Offering Two Manuals
Credit Today is now offering two great new manuals for our members at special discounted rates, the Credit and Collection Handbook, by Michael Dennis, and Credit and Collection Forms and Procedures Manual, by Jack Horn and Michael Dennis. The 644 page, 39-chapter Credit and Collection Handbook is a great manual for anyone from a beginner to the 40-year credit department veteran looking for a comprehensive reference on pretty much any topic of concern to a credit department. The 535 page Credit and Collection Forms and Procedures Manual includes hundreds of forms, letters, sample contracts, and checklists for dozens of credit department procedures. . . . keep reading
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Getting Close to the Customer With Both Technology and Decentralized Credit Operations
In an age when many companies are choosing to centralize, XTRA Lease, a leading global transportation equipment lessor, has gone the opposite route and has used technology to enable them to stay decentralized and gain efficiencies in the process. Based in St. Louis, XTRA Lease is part of Warren Buffet’s Berkshire Hathaway, whose many operating companies are known for having managements who love what they’re doing and are good at it. To find out why and how XTRA Lease credit has stayed decentralized, we spoke recently with John Pomilio, their vice president of customer financial services. . . . keep reading
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Dr. Credit: Promissory Note: A Simple Form That Accomplishes Many Things
Dear Doctor,
Do you have any suggestions for how to put together a promissory note for customers that need an extension when they can’t pay the full amount owed? I’d like to make a more formal agreement with some of these customers.
Thanks in advance,
Could Use an Assistant Houston Dear Houston,
First, we want to assure you that you’re certainly not alone (not just in your need of a promissory note, but also in your need for an assistant. They both can come in handy in any credit operation). . . . keep reading
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