Tighten-Up on Your Home Business Accounts Clarksville TN

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.”

Mr. Jocelyn Brandon Roberts, CFP®
(931) 802-3423
960 Webb Rd
Clarksville, TN
Firm
J. Brandon Roberts
Areas of Specialization
Asset Allocation, Budget Development, Comprehensive Financial Planning, Debt Management, Education Planning, Estate Planning, General Financial Planning

Data Provided by:
Robert Rayleigh Bevans, CFP®
(931) 206-1387
212 Madison St Ste 102B
Clarksville, TN
Firm
BevCo
Areas of Specialization
Business Succession Planning, Divorce Issues, Employee and Employer Plan Benefits, Insurance Planning, Long-Term Care, Special Needs Planning

Data Provided by:
Mr. Steven G. Williams, CFP®
(931) 245-2154
124 Center Pointe Drive
Clarksville, TN
Firm
Stone, Rudolph, and Henry Fina

Data Provided by:
US Bank - Clarksville St Bethlehem Office
(931) 920-3070
2300 Wilma Rudolph Blvd
Clarksville, TN
Drive Up Hours
Mon 08:30 am to 04:00 pm
Tue 08:30 am to 04:00 pm
Wed 08:30 am to 04:00 pm
Thur 08:30 am to 04:00 pm
Fri 08:30 am to 05:30 pm

US Bank - Clarksville-St. Bethlehem Office
(931) 552-8686
2700 Wilma Rudolph Blvd
Clarksville, TN
Drive Up Hours
Mon 08:30 am to 04:00 pm
Tue 08:30 am to 04:00 pm
Wed 08:30 am to 04:00 pm
Thur 08:30 am to 04:00 pm
Fri 08:30 am to 05:30 pm

Mr. Roland J. Sample, CFP®
(931) 553-4050
PO Box 30368
Clarksville, TN
Firm
Advanced Financial Concepts

Data Provided by:
Mr. Michael W. Thomas, CFP®
(931) 920-5029
101 S 3rd St
Clarksville, TN
Firm
Merrill Lynch
Areas of Specialization
Asset Allocation, Business Succession Planning, Comprehensive Financial Planning, Estate Planning, General Financial Planning, Investment Management, Investment Planning

Data Provided by:
Kathy B Ellis, CFP®
(931) 905-0050
2321 Rudolphtown Rd
Clarksville, TN
Firm
Raymond James Financial Servic
Areas of Specialization
Asset Allocation, General Financial Planning, Retirement Income Management, Retirement Planning, Small Business Planning

Data Provided by:
Bank of America - Clarksville Legion
(931) 553-2230
215 Legion St
Clarksville, TN
Type
Banking Center
Services
Banking Center Services: Change Order, Commercial Deposits, Night Deposits, Drive Up
Outdoor ATM Services: Open 24 Hours, Braille, Accepts Deposits, Drive Up
Languages
English, Spanish, Chinese, Korean, French, Russian, Portuguese
Office Hours
Monday 9-4
Tuesday 9-4
Wednesday 9-4
Thursday 9-4
Friday 9-5:30
Saturday Closed
Sunday Closed
Drive Up Hours
Monday 8:30-5
Tuesday 8:30-5
Wednesday 8:30-5
Thursday 8:30-5
Friday 8:30-5:30
Saturday Closed
Sunday Closed

Bank of America - St Bethlehem
(931) 553-2270
2502 Wilma Rudolph Blvd
Clarksville, TN
Type
Banking Center
Services
Banking Center Services: Change Order, Commercial Deposits, Night Deposits, Drive Up
Outdoor ATM Services: Open 24 Hours, Braille, Accepts Deposits, Drive Up
Languages
English, Spanish, Chinese, Korean, French, Russian, Portuguese
Office Hours
Monday 9-4
Tuesday 9-4
Wednesday 9-4
Thursday 9-4
Friday 9-5:30
Saturday 9-1
Sunday Closed
Drive Up Hours
Monday 8:30-5
Tuesday 8:30-5
Wednesday 8:30-5
Thursday 8:30-5
Friday 8:30-5:30
Saturday 9-1
Sunday Closed

Data Provided by:

Tighten-Up on Your Home Business Accounts

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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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