Best Practices for Handling Car Loan Charge Offs

Best Practices for Handling Car Loan Charge Offs

Amidst the expanding array of vehicles on the market, car loans have witnessed a significant increase. According to USA Today, the rejection rate for car loans has surged from 9.1% to 14.2% in the past year. Consequently, car loans have emerged as one of the largest...
Is Accounts Receivable a Debit or a Credit?

Is Accounts Receivable a Debit or a Credit?

When it comes to understanding accounting, the terms “credit” and “debit” often create confusion, especially in the context of accounts receivable management. Keeping the financial records accurate is a significant step in accounts receivable...
5 Proven Auto Loan Delinquency Prevention Methods

5 Proven Auto Loan Delinquency Prevention Methods

According to an article by Federal Reserve Bank Philadelphia, auto loan debt is now the third-largest debt category after mortgages and student loans. The first quarter of 2023 saw a $10 billion increase in auto loans, bringing the total to $1.56 trillion. With the...
What is Accounts Receivable: Impact on Your Business

What is Accounts Receivable: Impact on Your Business

Accounts receivables(AR) represent the lifeblood of any business, serving as a crucial component of its financial framework. It represents the money owed to a company by its customers for goods or services delivered but not yet paid for. In many business organizations...