Accounts Receivable and Recovery Management

Most businesses run on tight budgets with thin profit margins. When customers don’t pay on time, this not only cuts into profits, but it can also preclude businesses from meeting their own payable commitments. By working with Accu-Track Financial Solutions, you can honor your fiduciary responsibility and capture any monies due by guaranteeing you are receiving all payments owed in a timely and efficient manner. This, in turn, enables you to properly identify and account for uncollectible receivables, minimize write-offs, and enhance your accounts receivable management.

Deduction Research and Resolution

Upon receipt of payment from customers, the amount may be reduced for unidentified reasons or for reasons that may be associated with unrelated invoices or events. The amount by which a customer’s payment is reduced is known as a deduction. Deductions are usually taken by customers as compensation or for the lack of products or services received.

Some common reasons that a customer might take a deduction are:

Damaged or defective merchandise

Shortages in a shipment

Promotional allowances

Pricing and unit per case discrepancies

Returns

We will research each deduction to ensure it was accurately taken. When there is a discrepancy, we will step in to resolve it and either issue credit or recover funds. We are experienced in account resolution without doing harm to your valuable customer relationships.

Cash Discount Resolution

Accu-Track works with you to recover Unearned Cash Discounts (UCDs) taken by customers outside of your terms of sale. We educate your customers, correct terms discrepancies and enforce timely payment. Our focus on maximizing recovery improves your Days Sales Outstanding (DSO).

Shipping Logistics

Accu-Track works with you to recover discounts and fees associated with any discrepancies resulting from your shipping and logistics. In addition, we can assist by identifying when a carrier is at fault and file freight claims on your behalf.

Reporting

Good decision making is reliant upon having timely and historical data. Strong reporting enables you to have some reasonable capacity for projecting future outcomes.

Having a handle on your receivables, combined with the actions we are taking to secure your payments, will enable you to better manage your day to day business activities and provide you with the peace of mind you need to be effective.

Data Analysis

The goal of accounts receivable management is simple; enhance cash flow and ensure that 100% of net sales numbers turn into cash. By analyzing your customers payment habits, we help you stay on top of customers whom, if allowed, will pay late to optimize their use of your company’s cash. Moreover, we will conduct ongoing data analysis of your entire receivable to glean any insights as to how performance can be improved.