Five Important Points to Charging Interest

Like Ernie is discussing with Bert, including interest on past due accounts is not always an easy idea to implement. As a case in point, not too long ago our office received a claim for $85,000 for the sale of electrical supply products. In reviewing the statement of...

I Have a Secret Collection Amore

Our company is a small business with about thirty employees and I have been there about five years as the person in charge of collections. After I arrived, I inherited a long time customer who always had a very up and down payment record with us. Although he would pay...

CMI’s Credit & Collection Trivia Quiz

In which ancient kingdom or empire were the concepts of accounting first developed? Egypt Greece Mesopotamia Phoenicia Babylon   Answer: Mesopotamia and Babylon Accounting records dating back more than 7,000 years have been found in Mesopotamia showing lists...