Tighten-Up on Your Home Business Accounts Appleton WI

With the current economic crisis, are your customers stretching out their payments or disappearing without paying off their debt to you? If so, it’s time to review the basics and art of collecting accounts receivable without damaging customer relations. First of all, remember the cardinal rule, “It’s your money and you needn’t be bashful about seeking prompt payment for your goods and services.”

Kirt Rezek
Professional Financial Management
(920) 687-2600
200 West Elm Drive, Suite B
Little Chute, WI
Expertises
Helping Clients Identify & Achieve Goals, Retirement Planning & Distribution Rules, Estate & Generational Planning Issues, Financial Issues Between Generations, College/Education Planning, Ongoing Investment Management
Certifications
NAPFA Registered Financial Advisor, CFP®

Mr. James M. Mcglone, CFP®
(920) 733-3872
3701 E Evergreen Dr Ste 500A
Appleton, WI
Firm
Kerntke Otto McGlone Wealth Management Group

Data Provided by:
Mr. Nathaniel G Gehring, CFP®
(920) 358-0150
3412 E Lexington Dr
Appleton, WI
Firm
KeatsConnelly
Areas of Specialization
Comprehensive Financial Planning, Debt Management, Education Planning, General Financial Planning, Life Planning, Life Transitions, Planning for Couples
Key Considerations
Average Net Worth: Not Applicable

Average Income: Not Applicable

Profession: Not Applicable

Data Provided by:
Patrick M. Minskey, CFP®
(920) 832-0744
W5669 County Road Kk
Appleton, WI
Firm
Edward Jones
Areas of Specialization
Wealth Management
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

Average Income: $100,001 - $250,000

Profession: Self-Employed Business Owners

Data Provided by:
Jason McGlone
3701 E. Evergreen Drive
Appleton, WI
Company
Title: Senior Partner
Company: Kerntke Otto McGlone Wealth Management Group
Type
Investment Advisor Rep: Yes
Registered Investor: Yes
Education
Northern Michigan University/Science Degree in Economics
The American College/Master of Science in Financial Services (MSFS)
Years Experience
Years Experience: 12
Service
Wealth Engineering,401k Rollover From Employer,Income for Life/ Preserve Principal,Wealth Management,Retirement Planning,Long-Term Health Care Planning,Annuity Ideas & Strategy Planning,Estate Tax Planning,Asset Protection Strategies & Planning,Individual Income Tax Planning,Portfolio Engineering,Pension for Highly Compensated Owners,Stock Market Alternative,Reverse Mortgage,Annuities,Real Estate Investment Planning,Commission-Only Financial Planning (Full Disclosure),Planning For Personal Finan

Data Provided by:
Mr. Warren G. Schneider, CFP®
(920) 882-8371
4620 N Ballard Road
Appleton, WI
Firm
Northwestern Mutual Wealth Man

Data Provided by:
Mr. Chad L Nehring, CFP®
(920) 731-9500
3962 N. Richmond St.
Appleton, WI
Firm
Conceptual Financial Planning,
Areas of Specialization
Comprehensive Financial Planning, Debt Management, General Financial Planning, Investment Planning, Retirement Planning, Social Security Planning, Young Professionals

Data Provided by:
Mr. C. Peter Kerntke, CFP®
(920) 733-3874
3701 E Evergreen Dr Ste 500A
Appleton, WI
Firm
Kerntke Otto McGlone Wealth Management Group
Areas of Specialization
Asset Allocation, Comprehensive Financial Planning, Estate Planning, Investment Management, Retirement Income Management, Wealth Management
Key Considerations
Average Net Worth: Not Applicable

Average Income: Not Applicable

Profession: Not Applicable

Data Provided by:
Mrs. Kris A. Bougie, CFP®
(920) 628-4564
2000 E Milestone Dr
Appleton, WI
Firm
Thrivent Financial for Lutherans
Areas of Specialization
Comprehensive Financial Planning, Education Planning, Estate Planning, Insurance Planning, Investment Planning, Life Transitions, Long-Term Care
Key Considerations
Average Net Worth: $250,001 - $500,000

Average Income: $100,001 - $250,000

Profession: Not Applicable

Data Provided by:
Allan J. Davies, CFP®
(920) 628-3732
2000 E Milestone Dr
Appleton, WI
Firm
Thrivent Financial
Areas of Specialization
Asset Allocation, Banking, Budget Development, Charitable Giving, Comprehensive Financial Planning, Debt Management, Education Planning

Data Provided by:
Data Provided by:

Tighten-Up on Your Home Business Accounts

Provided By: 

When Times Get Tough, Receivables Get Tougher To Collect
By Richard J. Maturi

With the current economic crisis, are your customers stretching out their payments or disappearing without paying off their debt to you? If so, it’s time to review the basics and art of collecting accounts receivable without damaging customer relations. First of all, remember the cardinal rule, “It’s your money and you needn’t be bashful about seeking prompt payment for your goods and services.”

Timely Invoices and Billing Statements
The cornerstone of your accounts receivable system is providing timely invoices and billing statements. Every day you delay, is another day you don’t get your money. It helps to know your customers’ payment cycle. If they pay once a month on the fifteenth, and you send out your invoices on the 20th, you missed their payment cycle. By timing invoicing by customer, you may receive payment early, improving cash flow dramatically. If your receivables are large enough, a bank lockbox speeds up collections by eliminating the time it takes to process receipts in-house and deliver them to your bank.

Clearly Spelled Out Terms
Make sure your terms are clearly spelled out on invoices and billing statements. The invoice establishes the existence of the debt and should contain several key bits of information to prevent any confusion should conflict arise. First of all, date your invoice. This helps your customer determine when payment should be made based on the terms (net 30, 2% discount if paid with 15 days of invoice, etc.), which should also be prominently placed on the invoice. Know the current Dun & Bradstreet industry norms for payment cycles so you do not make your terms too stringent and thus lose customers to competitors with more lenient payment terms. Make sure you provide an accurate and complete description of the goods and services received by the customer. Inventory code numbers are great for your computer but mean nothing to the customer.

Accounts Receivable Schedule
Keep a pulse on billing activity and accounts receivable. Prepare an accounts receivable schedule by customer and payment due date. When the payment does not arrive on the expected date, make a friendly call to let your customer know you appreciate their business and inquire what has delayed payment. This usually gets the check in the mail. It lets customers know that you expect payment on time and are not the one who will let things slide. It’s also a good tool to help determine if a particular customer is experiencing financial difficulty. If so, you might try to work out a payment schedule that satisfies both of you. Working with your customer through a rough patch, may make them a faithful customer for many years.

Solving Problems
Ask when you can expect payment or if there is anything you can do to help move payment along. If any problems exist, now is the time to get them solved. It may be as simple as faxing a c...

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