A collection of interesting articles with many tips and tricks.
Ordinary creditors and preferential creditors: what is the difference?
When a company goes bankrupt, the trustee in bankruptcy uses its assets to pay creditors. The trustee blocks the accounts, sells equipment or machinery and collects any debts, and then pays the company's outstanding debts. But the order in which creditors are paid is not arbitrary. For this, the trustee in bankruptcy applies a legally strict order. Some creditors are therefore more likely to be paid (in full) than others. The decisive factor is whether a creditor is preferential or ordinary.
Can I hold my customer personally liable for unpaid invoices?
A customer goes bankrupt and you are at a loss what to do. What do you do now? Can you hold the directors or managers personally liable for the outstanding invoices? Sometimes you can, sometimes you cannot. Much depends on the type of company that goes bankrupt. Find out how things work here.
Issuing credit notes: what, when and how?
Every entrepreneur encounters it sooner or later: you send an invoice and only afterwards you realise that you have made a mistake or that something needs to be changed. Enter: the credit note! Because you can't just modify your invoice and send it out again. And you certainly can't delete them from your accounts. You have to draw up a credit note and send it to your customer. We explain briefly what a credit note is, when you should send one and how you should draw it up.
How long can I wait before I send my invoice?
When do you send your invoice, after having delivered a product or service? You can't wait indefinitely, but drawing up an invoice after each sale is not always efficient either. What term is acceptable, when are you really too late and what are the consequences? You can read all about it here.
A positive payment experience for every customer, how do you ensure this?
As an entrepreneur, you know how important it is to guarantee a good customer experience. But do you also stop to think about the final piece in this, the payment? Today, we will take a closer look at the payment experience of your customers. Why is a positive payment experience so important? And how do you make it easy for your customers? You can read it here.
7 common invoice mistakes and how to avoid them
A mistake on an invoice can mean waiting longer for payment, so check your invoices carefully before sending them to your customers. Incorrect or incomplete information make an invoice invalid, and then the customer doesn’t have to pay it. Here we list the seven most serious mistakes companies make so you can be sure that you are preparing correct invoices!
What are bad debtors, and how do you deal with them?
Almost every entrepreneur and company have had to deal with this issue at some point: bad debtors. But what exactly are bad debtors? And how do you deal with them?
New legislation: Maximum invoice payment term shortened to 60 days
On February 1, 2022, the legal term of payment for an invoice between companies was reduced to a maximum of 60 days. This new law was passed somewhat unnoticed in August 2021 but has had a significant impact. This article offers an insight into what this means for your business.
How do you recover an invoice without offending your customer?
It is important for your company that your customers pay as soon as they are invoiced. You need this income to pay your costs and grow your business. At the same time, you need to build and maintain healthy customer relationships, because losing good customers also has a negative impact on your business. A healthy customer relationship ensures a healthy source of income. But what do you do if a good customer does not pay, or pays very late? How can you collect an unpaid invoice without damaging your customer relationship? Here are some tips from our experience!
The usefulness of a good online bookkeeping programme
Accounting - is it a necessary evil for you, or does it make your heart beat faster? Keeping accurate accounts is a legal obligation for any business, whether you like it or not. Fortunately, there is a great variety of handy bookkeeping software nowadays, software that makes your administrative work much simpler and more efficient. Below we list the advantages.
What is DSO, and how do I calculate it?
Days Sales Outstanding (DSO) is one of the most widely used measuring tools in receivables management. In plain language, the DSO ratio indicates how long you must wait, on average, for a payment. Find out in this article how to calculate your DSO and how monitoring this parameter can improve your business.
Collecting unpaid rent through Unpaid, is that possible?
A badly paying tenant is every landlord's nightmare. After all, you don't have much leverage to force them to pay. But have you considered Unpaid? In a business-to-business environment (B2B), using our procedure is the best way to collect overdue rent.
Zombie companies and ghost firms: Prevent them from draining your business
In the world of business, like almost everywhere, you will, unfortunately, find managers who do not necessarily have the company’s best interests at heart. In this context, the terms 'ghost company' and 'zombie company' often crop up. Although both terms seem to come from a horror story by Mary Shelley, they refer to companies with the main purpose of looking like a company to the outside world. What is the difference between the two, and most importantly, how do you keep them at bay? Read on to find out.
Invoicing and the GDPR legislation: what should you consider?
The General Data Protection Regulation (GDPR) determines what you, as an entrepreneur, both may and must do with personal data. What about invoicing data? Here’s our explanation.
What is Peppol and what are its advantages?
In short, Peppol is a secure international network of organisations. They use the network to send standardised invoices. The biggest advantage? When you use Peppol, you know for sure that your customer will receive and interpret your invoices correctly. Thus, they will also handle them easily and quickly, read them, and pay.
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