Legal Steps to Take When an Invoice Goes Unpaid
Do you know that Indian businesses routinely struggle with unpaid invoice collection—sometimes benefitting from court-mandated asset auctions to clients? For instance, Just this week, the Madhubani collectorate is facing auction notices over ₹4.17 crore in, unpaid dues to a Kolkata based firm struggling to collect. These hopeful but handful cases underscore the importance of understanding legal […]
What Happens When You Hire an Invoice Collection Agency?
Do you know how much unpaid dues silently cripple Indian businesses each day? A recent report written by CA Rahul Malodia underscores that delayed invoice payments are piling up across start-ups and MSMEs, intensifying cash-flow crises and hampering growth. Choosing the wrong collection agency could cost more than money—it can damage relationships and delay recovery. […]
The Legal Rights of Businesses in Unpaid Invoice Recovery
Do you know that under Indian law, businesses have the power to enforce payment for unpaid invoices and even earn interest on top of defaults? A recent MSME dispute highlighted how suppliers can recover dues plus compounding interest under MSME Samadhaan. If unpaid invoices are draining your cash flow, it’s critical to understand your Unpaid […]
Credit Notes- What Are They and How Are they Useful To Receivables and Payables
Credit notes are an important financial instrument that play a key role in accounting transactions – accounts receivable and accounts payable. Credit notes are normally used to correct overcharges, wrong item delivery or service cancellations. Credit notes are represented as a credit memo which adjusts the invoice value of goods and services. They are a […]
How Small Businesses Can Tackle Cash Flow Issues Caused by Unpaid Invoices and Debt
Introduction By their very nature, small businesses grapple with uncertainty regarding cashflows from their business. Cashflow problems cause 69% of business owners to lose sleep and is the major cause behind business failures globally. Unpaid invoices and debt is the chief cause of cashflow problems worldwide. Chasing down unpaid debt and slow paying customers is […]
How Does Your Business Become Cash Flow Positive?
A business should not only have accounting profits but also cash profits in order to be truly profitable and financially stable. When a firm is cashflow positive, it helps the financial stability and liquidity of the company. Cash inflows come into the firm from sales of inventory or services and outflows in the form of […]
What Is Customer Due Diligence (CDD) Process & Its Types?
Customer Due Diligence Process is one of the core activities performed by financial and lending institutions. This is the activity that they undertake to know their clients completely. This activity also includes a risk assessment of the customer and identifies potential risks like the ability to commit money laundering, terrorism financing, and fraud. Customer Due […]
B2B DEBT COLLECTION: 5 MAJOR RISKS OWNERS AND AR MANAGERS SHOULD BEWARE OF
Most businesses are focused on generating more business and delivering more product launches. But the key driver that enables a business to progress forward is cashflows. Businesses, especially small businesses (MSMEs) in the B2B sector pay expenses and creditors only out of the cashflows that it generates. Not only increasing but also generating cashflows that […]
Comprehensive Guide to Debt Recovery Agents: Roles, Responsibilities, and Best Practices
A debt recovery agent plays a crucial role in preserving the lender- borrower relationship. Acting as an intermediary between both parties, they take the necessary steps to ensure that businesses and lenders are able to recover what they are owed while maintaining the customer relationship. Recovery agents can be defined as trained professionals who recover […]
How To Take Legal Action For Non-payment Of Invoices
Not getting invoices paid on time is one of the major problems faced by most SME and MSMEs. Invoice collection and collecting accounts receivable is the key to maintaining the cashflows of a business and maintaining its financial stability. Overdue invoices that don’t get paid and payment disputes invite legal solutions including arbitration and legal […]