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Debt collection or cash collection is the process of pursuing payments of money or other agreed-upon value owed to a creditor. The debtors may be individuals or businesses. An organization that specializes in debt collection is known as a collection agency or debt collector. [1] Most collection agencies operate as agents of creditors and ...
Arrears. In finance, arrears (or arrearage) is a legal term for the part of a debt that is overdue after missing one or more required payments. [1] The amount of the arrears is the amount accrued from the date on which the first missed payment was due. The term is usually used in relation with periodically-recurring payments such as rent, bills ...
Accounts receivable represents money owed by entities to the firm on the sale of products or services on credit. In most business entities, accounts receivable is typically executed by generating an invoice and either mailing or electronically delivering it to the customer, who, in turn, must pay it within an established timeframe, called credit terms [citation needed] or payment terms.
Days sales outstanding. In accountancy, days sales outstanding (also called DSO and days receivables) is a calculation used by a company to estimate the size of their outstanding accounts receivable. It measures this size not in units of currency, but in average sales days. Typically, days sales outstanding is calculated monthly.
Late fee. A late fee, also known as an overdue fine, late fine, or past due fee, is a charge fined against a client by a company or organization for not paying a bill or returning a rented or borrowed item by its due date. Its use is most commonly associated with businesses like creditors, video rental outlets and libraries.
Days payable outstanding (DPO) is an efficiency ratio that measures the average number of days a company takes to pay its suppliers.. The formula for DPO is: = / / where ending A/P is the accounts payable balance at the end of the accounting period being considered and Purchase/day is calculated by dividing the total cost of goods sold per year by 365 days.
An amortization schedule is a table detailing each periodic payment on an amortizing loan (typically a mortgage), as generated by an amortization calculator. [1] Amortization refers to the process of paying off a debt (often from a loan or mortgage) over time through regular payments. [2] A portion of each payment is for interest while the ...
Housing Prices vs. Housing Crisis. A housing crisis can mean a lot of different things for sellers and buyers alike, but what it typically boils down to is the pricing in a consistently volatile ...