Sooner or later, every company will have to deal with a defaulter. If your customers suddenly don’t pay correctly any more it has consequences for your cash flow. To avoid this, it's better to recognize a defaulter in time. Below we'll give you a few tell-tale signals that should ring alarm bells.
Unfortunately, Corona has caused problems for the Belgian economy. For more than 2 months the economy was almost completely at a standstill. Moreover, it seems that the restart will be a long- term job.
Every invoice you send or receive must include a payment term - the time you get or give to pay the invoice. The most common period is 14 days, but some companies give a longer period of 30 days or more. In any case, the payment term is an important aspect of your company's financial health. We give you 5 tips on how to deal with it below.
Occasionally a customer asks for a postponement of payment. How do you respond to this and what is the best thing to do? Allowing a postponement of payment is not required by law. But why risk a good relationship and maybe even lose a customer by refusing? Maybe a short consultation is enough to agree on a new payment term together. You are happy and your customer even more so.
Keep a number of things in mind.
In your private life and at work,: digitisation is omnipresent. As a company, it is also essential to take the digital train. Most of your customers have already switched to e-invoicing. In this article we look at what it means and what the benefits are.
Whether you run a large company, an SME, a start-up or a one-man business: it's your customers who keep your business running. A good customer relationship is therefore necessary. We give you a few tips to maintain and even improve them in the best possible way.
Cash flow: one of the most commonly used business terms. But what does it mean and why is cash flow so important for your business? What exactly is a good cash flow and a bad cash flow? And what is its impact on your business?
Unpaid invoices have a major impact on your business. They put pressure on your liquidity and in the worst case, you have to postpone investments or be in financial distress. With our calculator you can calculate how much extra turnover you need to generate to make up for unpaid invoices. But there are a lot of extra hidden costs.
If you want to collect unpaid invoices via the IOS procedure, for example via Unpaid, it is possible that this will not work because your debtor is bankrupt or has invoked the law on the possibility of judicial reorganisation (now insolvency law, formerly known as the law on the continuity of the company or WCO). We would like to explain to you exactly what this means.
In 2016, the "Recovery of Uncontested Cash Debt" (IOS) procedure came into effect in Belgium. This procedure ensures that companies no longer have to collect their uncontested claims against another company through a court of law. You have an unpaid invoice and wish to collect it via the IOS procedure. In this article we inform you what conditions an unpaid invoice must meet in order to claim it via the IOS procedure.