Uncollectible accounts are receivables that have virtually no chance of being paid. Accounts may become uncollectible for many reasons. Some of these are the inability of debtors to make payments within the due time or failure to make payments altogether. They may...
It is a common practice nowadays for businesses to outsource aspects of their business operations to a BPO company. There can be several benefits that businesses can gain from outsourcing such as lowering operational costs, increased efficiency, and greater...
Whenever new members join a gym, they are always brimming with optimistic energy and are excited about the great intentions for which they decide to join. However, these members soon start doubting whether they are hitting their targets fast enough and whether the...
Having a lot of customers is a great thing for any business. However, the outstanding accounts receivables of these customers can prove to be more harmful than good. This lateness in payment is one of the major reasons why many businesses fail or run into financial...
The COVID-19 pandemic has been a major economic shock for many businesses worldwide. Multiple companies have been forced to shut down, lay off staff, or make other drastic changes to survive the debacle. According to a World Bank Survey, around 25% of the companies...
The COVID-19 pandemic completely changed the financial landscape for the average American. Millions of people lost their jobs, and a significant number saw a decrease in their annual income. Fast forward to 2022, consumer debt levels are now at an all-time high....
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