How to dispute an incorrect debt with Receivables Management Services?

A proper receivables management is one of the important tasks for the accounting department. Whether correct or incorrect, getting a call from receivables management regarding the debt is not acceptable. This is the reason for different disputes in the accounts department. The businesses in USA has a proper way for accounts receivable management for avoiding the debt. Handling these disputes in the receivables management is important for companies in USA properly can help you to achieve efficiency in accounting.

What is dispute resolution through receivable management services?

The process of resolving any kind of incompleteness or inaccuracy in the billing and invoices is dispute resolution here. If the amount is not released soon then it can impact the revenue of the company. Therefore, systematic steps need to be followed for resolving the disputes and ensuring proper payment for the vendors. While handling the receivables management services in US, it is important to consider the regulations regarding it.

What are the different types of the disputes?

There are different types of the dispute in respect to the accounts receivable management.

Here are different types of disputes in receivables management:

1. Quality dispute

When the quality of the product or service is not as per the expectations then it is the quality dispute.

2. Pricing dispute

When there is a difference between the payment that was initially agreed between parties and the pricing that was actually charged, then it is a pricing dispute.

3. Administrative dispute

If the documents are incorrect or missing then it is termed as an administrative dispute.

4. Unaccounted goods dispute

If the billing of the goods or service is inappropriate then it is unaccounted dispute.

5. Double billing dispute

If by mistake, the delivery is billed twice then it is termed as the double billing dispute.

These are the general types of the disputes in the receivables management. However, there can be other exceptional cases too.

What process is followed in the receivable management services?

There are some possibilities of incorrect and inefficiency in the traditional dispute resolution process in the receivables management.

Here is the standard process of the receivable management services for dispute resolving:

1. Receiving dispute cases

A dispute case is received from the accounts department by the analyst. The case is understood properly and then processed further.

2. Prioritizing and tracking the cases

As per the importance, the dispute is prioritize by the analyst. The unique id will be given to each case for tracking the cases further.

3. Aggregating the data

A right stakeholder is identified for getting the relevant information about the dispute. A proper analysis is done by gathering the proper information like bill of lading, proof of delivery, invoice order, sales invoice, tax receipts, etc.

4. Request for data

If the case is of missing documents, the analyst will demand for the required information and the dispute can be resolved soon.

5. Resolving the dispute

All the necessary documents are gathered properly, then the validity and reason for the dispute is analyzed. As per the situation, the dispute is then resolved through refund, collection, or write off.

Generally, these procedures are followed for resolving disputes in accounts receivable management. If you find it difficult to handle the dispute for incorrect debt then you can outsource the task to a reliable agency.

Meru Accounting provides receivables management services in US. They have talent who are well-acquainted with the regulations in the US. Their efficient handling of the debt in accounts receivable can resolve debt better. Meru Accounting is a popular accounting service provider around the world.

This will close in 0 seconds

    Please Submit Your Email

    This will close in 21 seconds

      Request Call Back

      This will close in 0 seconds

      Meru Accounting

      First Month Bookkeeping Free !

        Contact Us

        This will close in 0 seconds