To view overdue payments and contract breaches, businesses should first review payment terms and deadlines within contracts. Accounting software like QuickBooks or Xero can track outstanding invoices and flag late payments. Legal teams must assess whether breaches meet material terms, such as missed deliverables or financial obligations. For disputes, sending formal notices and documenting communications are critical steps. Courts often require evidence of attempts to resolve issues before litigation.

This approach ensures compliance with U.S. contract law, which prioritizes clarity and documentation. A 2022 study by the National Small Business Association found that 38% of small businesses reported payment delays exceeding 30 days, costing an average of $7,200 annually in lost revenue. The American Bar Association (ABA) notes that 25% of contract disputes involve overdue payments, with legal resolution averaging $15,000 per case. Proactive monitoring reduces litigation risks by 40%, as per a 2023 Fundera report, while formal notices increase recovery rates by 60% compared to informal communication. Data from the U.S. Bureau of Labor Statistics further highlights that businesses with structured payment tracking systems experience 50% fewer contract breaches annually. These metrics underscore the importance of systematic oversight to mitigate financial and legal exposure.