Having Issues With Accounts Receivables
Perhaps it is the slumping economy, but we have been having a lot of customers delay paying on their Accounts Receivables 60 days or more ... with these dead beat customers and are looking for a good non recourse factoring service willing to take them off our hands. We would appreciate some feedback from anybody who regularly uses a factoring [more...]
Date: 2008-08-14 20:50:57
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Spring Ritual at Cardinal Health: IRS Audit
President Obama’s cabinet picks are not the only ones facing tax problems these days. According to Cardinal Health’s (CAH-$38.10) ... as the Internal Revenue Service audits questionable accounts receivable financing transactions ... receivables to a special purpose accounts receivable and financing entity. The amount of additional [more...]
Date: 2009-02-15 16:34:00
Collecting Medical Accounts Receivable
Doctors are Not Bankers By Dr. David Edward Marcinko; MBA, CMP™ By Hope Rachel Hetico; RN, MHA, CMP™ Collecting accounts receivable (ARs) ... your AR Policy An AR collections policy that is too conservative may results in poor collection rates ... on your biggest accounts first. Get non-performing receivables off the books. Accounts over about 120 day [more...]
Date: 2008-12-10 00:32:53
What is Bookkeeping and Why Do I Need a Bookkeeper?
Many small business owners, when they are starting out, ... do? A bookkeeper is a person that handles Accounts Receivable, Accounts Payable, or Payroll. In smaller ... the books in one fell swoop, rather than updating the books every single day. What is Accounts Receivable [more...]
Date: 2008-12-09 09:27:57
Bad debt
Twenty-something years ago I was made responsible for the billing and collection activities of my employer ... of outstanding accounts receivable 90-days-old and over, and began selecting accounts to be written off as uncollectible. The offsetting account we charged those dollars to was called "Bad Debts." This act [more...]
Date: 2008-09-19 18:36:39
Medical billing concept - Reports and Financials
Daily ReportsAfter the daily routine of demographics, charge entry, claims processing etc are done, the accounting day is closed ... reports need to be taken.· Aged Accounts Receivable Summary – This report gives the total balance outstanding by patient type by age as at the end of the month.· Aged Accounts Receivable [more...]
Date: 2008-08-22 10:59:00
Swing Factor #2:
HAVING DEALT SUCCESSFULLY WITH MANAGEMENT OF your accounts receivable (A/R) ... and thereby converted from inventory to accounts receivable. Inventory days tends to rise somewhat [more...]
Date: 2009-03-04 01:14:58
Is Factoring the Right Fit For Your Company?
I’ve been a believer of invoice factoring for many years. That’s why it’s one of the main services we offer and promote ... in nature, factoring lines are limited only by the company’s pool of receivables. Many business ... and get approved for an increased line from the bank, especially these days. Accounts receivable [more...]
Date: 2009-02-12 03:22:50
Maintaining good cash flow practices is necessary for business growth
Dell was in dire crisis when it had bulging order books. The crisis was precipitating because of a big cash cycle of 69 days ... cash cycle and compare Accounts Receivable against Accounts Payable to avoid being short of cash [more...]
Date: 2009-03-02 15:39:32
Ready, Set, Factor
You may have heard that the economy has seen better days ... by credit-worthy account receivables. According to recent Dow Jones and Scripps Howard News Service ... are small businesses getting their funding now that banks are less apt to lend? From factors like Liquid [more...]
Date: 2008-10-22 16:12:43
GM Bankruptcy or Bailout? We'll Know Soon. Very Soon.
Over the next few days, Congress and the White House will try to put together a bailout for GM, Ford and Chrysler ... and perhaps hundreds of millions of dollars of accounts receivable owed by GM and Chrysler ... for new parts, but that wouldn't get their old accounts receivable paid.) The nonpayment of accounts [more...]
Date: 2008-12-06 05:01:15
Factoring - A Short-Term Business-Financing Alternative
Occasionally a small business owner is caught between the proverbial rock and a hard place in regards to cash flow ... to five days. In essence, they become your accounts receivable department. They contact your customer ... your line of credit and asks for repayment. As a small business owner, you may not have an accounts [more...]
Date: 2008-11-10 21:24:42
Longish taking stock
Giving thought to my career. (This is a Novel-Racers-specific variation on a post I made to my Live Journal the other day ... I have earned (cash in hand, not accounts receivable) less than $500. (The good news is, that is not 10 ... deadline -- that fear factor -- I was lazy; too willing to accept my own excuses for not writing [more...]
Date: 2008-08-10 14:16:00
Surviving a Recession
Pick up any business related publications these days, ... receivables, be these administration fees or account contributions. Further, our emphasis ... . TASC is going to remain diligent to ensure the timely collection of account funding. Let [more...]
Date: 2009-02-25 16:02:03
BEST WORLD: Trading at 1X PE ex-cash
Results announced last night. BEST WORLD INTERNATIONAL’S revenue for FY08 declined 6% to $96.1 million while its earnings came in 20.7% lower at $10 ... and this has led to accounts receivable turnover decreasing from 45 days as at end-2007 to 22 days as at end-2008. The company had no bank loan at the end of 2008 and has approximately $30.6 million [more...]
Date: 2009-02-23 17:20:00
Free Money!
Interest free loans! Sounds great doesn’t it? Well that’s what businesses do when they offer credit terms to their customers ... backlog of accounts receivable. Once some of these invoices age over ninety days, a factoring company ... and responsibly, but a factoring company can be an arms length advocate to a better understanding between [more...]
Date: 2009-01-23 21:36:20
Tip of the Day: When to use factoring
Today’s tip comes from Judee Slack of SlackTax Inc. in Fountain Valley. ... s accounts receivable at a discount to some third party, usually a commercial finance company. The cost ... from the quick cash turnaround of receivables factoring. A factor’s decision to buy accounts receivable [more...]
Date: 2008-08-08 08:00:07
Processing Float
The goal of managing processing float is to require zero days; that is, to deposit all items on the same day they are received. Unfortunately, many businesses hold on to checks received until the end of the processing cycle. Typically, the mailroom passes along envelopes with remittances to accounts receivable, where [more...]
Date: 2008-12-01 06:38:26
Keeping Your Business Out of Debt
As I scan the media these days, I often come across the personal accounts of people who were drowning in debt yet were able to pull themselves out ... by your accounts receivable, inventory, accounts payable, capital expenditures, and incurred debt [more...]
Date: 2008-12-04 08:09:51
What you need to know about collections.
by JR Rooney The debt collection industry is a billion dollar industry. According to Rapid Recovery Solution, Inc ... , when the money is collected which can be recorded as a profit or accounts receivable. Some collection ... agency, usually when it has become 90 to 120 days late. Creditors send accounts to collection [more...]
Date: 2008-12-20 08:11:58
On what happens to a Central Bank’s balance sheet when a client bank goes bursts
Dear Hobbes, The other day I was discussing the current financial turmoil with a friend and we got to a dead end we couldn’t find an answer to ... is different from that of a typical company. You won’t find inventory, accounts receivable, or accounts payable. Instead, under assets, you’ll see mostly loans and investments, and on the liabilities [more...]
Date: 2008-09-28 20:25:07
Outsourced Debt Collections for Medical Practice - Top 5 Criteria to Better Billing Performance
Tip! One of the most important careers is medical billing ... desired limit (typically, 90-120 days). Accounts receivable distribution over the span of 30, 60, 90 ... , skill, and discipline. Understanding of debt collections process and outsourcing opportunities help [more...]
Date: 2008-10-01 11:45:27
Payment default fear grips IT firms; clients asked to pay up faster
THE A 2 Z INFORMATION TECHNOLOGY WEBLOG...!IT firms have stepped up efforts to collect payments from clients as quickly as possible as fears of ... is certainly king. We made considerable improvement in our receivable picture bringing it down by nine days. Even in respect of accounts, which dissolved their businesses, our collections really improved [more...]
Date: 2009-01-23 08:55:00
Abridged Global Business GLOSSARY
.fullpost{display:inline}That the term as I took below, actually it is global business term of real life offline or online business, marketing, ... Receivable - money due your enterprise as the result of day-to-day operations.Accrual Based Accounting [more...]
Date: 2008-11-26 00:29:00
Hot Professions for 2009
Take a look at this list below and either thank your lucky stars that your job is already on it, ... allows small business to get funding based on their current accounts receivable -- the money they expect ... all business transactions these days are done [more...]
Date: 2009-01-14 13:51:00
Accounts Receivable Officer
Update and monitor customers accounts and credit control matters. Date: 10 February 2009 City/Town: Davao City Location: Davao Wage/Salary: Competency base Start: Asap Duration: 30 days Type: Full Time How to apply: email Company: Kupler Industries Inc. Contact: Kharen Sembrano Email: Kharensembrano@yahoo.com Source: Best Jobs Philippines [more...]
Date: 2009-02-11 09:23:00
Tip of the Day: Manage money and assets
Today’s tip is from Doug Palmer of Palmer Financial LLC, which specializes in accounting and financial services for small- to mid-sized [ dougpalmer ... rated money market account possible. Stay away from treasury swaps. MANAGE ACCOUNT RECEIVABLES ... PAYABLE Pay critical vendors first. Pace vendor payments with receivable collection. You do not want [more...]
Date: 2008-09-03 08:00:05
Communicating With Customers
Accounts-receivable aging reports have been around forever. The reports sort and divide accounts or invoices into 30-, 60- and 90-day categories ... s focus on on-time collections at the beginning of the relationship. This initial phone call is also ... regarding the process for resolving disputes. Marketing’s job is to make it easy to buy from you. Accoun [more...]
Date: 2009-02-01 03:16:57
Plan for efficiency in good times and bad
Are we in a recession or headed for one? Read the news each day and I wonder if we’re in a depression ... your accounts receivables and confront slow payers. It’s common to see more slow payers during ... to do especially with long-term clients, but keeping your receivables down is critical during this period [more...]
Date: 2008-10-16 07:58:55
6 People Who Look Unemployed…But Aren’t
This article originally appeared at unemploymentality.com. It has since been updated for Business Pundit ... you’re talking to your buddy, Ricky from Accounts Receivable, who got laid off on the same day [more...]
Date: 2009-01-29 18:04:20
Saving Money in the New Year
A successful business means keeping accurate and timely financial information because a clear financial picture will allow you to monitor your ... is an extremely fast way to turn your receivables into cashrather than waiting up to 90 days ... at least $10k in your savings account for emergencies. 5. Draw up a Savings Plan. Think about reaching [more...]
Date: 2008-12-31 07:02:00
When the Bank Says NO!
Factoring has been practiced for centuries. The Romans sold promissory notes at a discount as did the Phoenicians ... of it. Factoring is the selling of your accounts receivable for cash versus waiting 30-60 or 90 days to be paid by your customer. When you provide a Factoring company with copies of your invoices [more...]
Date: 2009-01-15 01:42:58
Article: Using Invoice Factoring as a Source of Quick Financing
One of the challenges of looking for conventional business financing is that it can take a very long time to find out if you will qualify for it or ... you to get a funding advance against your accounts receivable, providing you with working capital to pay employees and suppliers. So, instead of waiting 45 days to get paid by a client, the factoring co [more...]
Date: 2008-07-28 14:55:00
Who’s Watching Your Working Capital?
Turn on the news and you’ll see companies everywhere trying to shore up their balance sheets in anticipation of weak sales and ... - Inventories)/Current liabilities (1 is good) A/R Turnover Ratio: Sales/Average Accounts Receivable Inventory Turnover Ratio: Cost of Goods Sold/Average Inventory (the higher the better) Days Sales [more...]
Date: 2008-12-04 18:28:44
Industry Norms (2)
Most medium size and larger businesses that sell to other businesses have a credit-check function ... is in cash-flow trouble, chances are that your receivables from that customer will be in trouble before ... contact if an account hits 90 days. Most of the time, the personal impact of CEO contact both [more...]
Date: 2009-02-05 03:24:57
Growing Your Small Biz
GateHouse News Service: The time has finally arrived. That small business you started a couple of years back is poised for growth ... of those vital receivables. Set up a tighter payment policy if necessary and keep a watchful eye on accounts that are 30 days or more past due. You can preserve some of that cash flow by delaying [more...]
Date: 2008-08-07 17:10:46
Are you getting paid?
One of the comments I’m hearing from business owners these days is that payments are slow in coming ... by the number of weeks between now and the event. Ring the card up weekly. Got an existing accounts receivable ... . One option: Offer financing. Obviously, you have to make sure the economics are right, particularly [more...]
Date: 2008-10-16 20:33:59
This Is The Most Challenging Time In My Business Life!
Work is hard these days! Decisions need to be made quickly and correctly! You need to be GREAT on every project for EVERY client! Accounts Receivables are growing for most companies! Exceeding expectations is now the standard! A few weeks ago my day started (as it does often) with a 6:00am call with Steve Schlesinger [more...]
Date: 2009-02-20 13:34:10
Firing your clients [SMB Consulting Best Practices book excerpt]
Hiya - been offline for a few days with my SMB Nation Europe workshop - but its good to be back! ... the account to this new consultant. Why isn’t this work, in reality, billable? A client who’ ... so that you have minimal outstanding accounts receivable or monies owed from this entity. You don’t want to terminate [more...]
Date: 2008-12-08 06:07:57
Account Receivables Frequently Asked Questions (FAQ)
Q1. What are the billing cycle requirements for invoice generation? ... the billing setup into account (i.e., bill offset and cycle days). Therefore, the system looks [more...]
Date: 2008-10-24 10:39:00
20090127-Don’t CallTue., 27-Jan-2009
For the past few days, I was in a panic. I needed a job and kept applying online through various temporary to direct placement agencies, ... found a position in A/R (or Accounts Receivable ) that was only for two months. Unfortunately ... and in three short sentences sent my resume, stating it was perfect!All I needed was just some extra [more...]
Date: 2009-01-28 02:16:46
Internet (for) Angels
Internet (for) Angels February 22nd, 2009 Posted by admin in Technology | No Comments » These days I have trouble believing that there are still ... a customer number in their accounts receivable, you will be a customer whose satisfaction [more...]
Date: 2009-02-23 02:45:23
Another Tax Loophole
Just image, you are a small manufacturing company, business has been good, but yesterday you received a call from a customer who wants 50,000 widgets in 45 days. The customer is a large account and if you turn the business down, he may ... for business reasons and your credit cards are maxed out. As you look around your messy yet effective [more...]
Date: 2008-09-18 08:24:54
Another Tax Loophole
Just image, you are a small manufacturing company, business has been good, but yesterday you received a call from a customer who wants 50,000 widgets in 45 days. The customer is a large account and if you turn the business down, he may ... for business reasons and your credit cards are maxed out. As you look around your messy yet effective [more...]
Date: 2008-09-06 08:14:00
Another Tax Loophole
Just image, you are a small manufacturing company, business has been good, but yesterday you received a call from a customer who wants 50,000 widgets in 45 days. The customer is a large account and if you turn the business down, he may ... for business reasons and your credit cards are maxed out.As you look around your messy yet effective [more...]
Date: 2008-09-18 06:46:00
Shag!
It’s been 2 days of school, and school life needs some getting used to since I haven’t been on it for 2 years ... /accounts payable”… “debtor/accounts receivable” and so on need to become second nature and seemlessly ... with the understanding of the technical terminology used. So the definition and uses of words/phrases like “cash [more...]
Date: 2009-01-06 12:52:55
How to Use Factoring to Finance Your Company
Getting business financing is tough when the economy is doing well and almost impossible when the economy is doing badly ... estate, machinery and accounts receivable in some combination. Furthermore, institutions also want ... ) and then invoice your client expecting payment in about 45 days. A factoring company can advance about 80 [more...]
Date: 2008-08-22 21:55:00
Bookkeeper
A firm seeking an experienced bookkeeper. Individual must know quickbooks and excel at minimum. Some daily tasks include accounts receivable and payable, banking, payroll, data entry & more. Inquire within for more details. Position is flexible for days and hours. hours will vary based [more...]
Date: 2009-03-08 05:15:15
Offering Net 90 Terms
Every so often I get a factoring application that shows that a client is offering net 90 days (to pay invoices) to his clients ... .---Interested in factoring in hawaii? COnsider doing business with us.Labels: accounts receivable factoring ... . Unfortunately, most factoring companies are not able to finance net 90 (or greater) invoices.Why [more...]
Date: 2008-05-14 18:01:00
Securing Commercial Finance
Securing Commercial Finance Posted by Ada Denis on October 20, ... for outright. When the lender has gone looking at the holding you have, they will look at your account receivables. Revenue The sum of revenue generated on a average basis. This can be day-to-day [more...]
Date: 2008-10-20 13:39:48
