Tighten-Up on Your Home Business Accounts Leavenworth KS

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. Joseph David Sebes, CFP®
(913) 651-4437
326 Santa Fe St
Leavenworth, KS
Firm
Ameriprise
Areas of Specialization
Comprehensive Financial Planning
Key Considerations
Average Net Worth: $250,001 - $500,000

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

Profession: Not Applicable

Data Provided by:
Mr. Rance J. Carlson, CFP®
(816) 220-5040
8640 N Green Hills Rd Ste 41
Kansas City, MO
Firm
Community America Credit Union
Areas of Specialization
Charitable Giving, Comprehensive Financial Planning, Estate Planning, Insurance Planning, Investment Management, Long-Term Care, Retirement Income Management
Key Considerations
Average Net Worth: Not Applicable

Average Income: Not Applicable



Data Provided by:
Mr. James C. Mcmurtry, CFP®
(816) 659-9534
6300 N Revere Dr Ste 250
Kansas City, MO
Firm
Wells Fargo Advisors Financial Network

Data Provided by:
Mr. Ryan Noble, CFP®
(816) 587-7526
1805 NW Platte Rd Ste 100
Kansas City, MO
Firm
Prosperity Planning
Areas of Specialization
Asset Allocation, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Divorce Issues, Education Planning, Employee and Employer Plan Benefits
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Not Applicable

Data Provided by:
Mr. H. Arvid Hansen, CFP®
(816) 436-9939
5440 N. Oak Trafficway
Kansas City, MO
Firm
Premier Financial Partners
Areas of Specialization
Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Divorce Issues, Elder Care, Estate Planning, Investment Management

Data Provided by:
Mr. Todd D. Barr, CFP®
(816) 382-3722
9800 NW Polo Dr Ste 150
Kansas City, MO
Firm
Meridian Wealth Management, Inc.
Areas of Specialization
Asset Allocation, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Divorce Issues, Education Planning, Elder Care
Key Considerations
Average Net Worth: $250,001 - $500,000

Average Income: $50,001 - $100,000

Profession: Service Professionals

Data Provided by:
Ms. Robin N. Neal, CFP®
(913) 441-6653
212 E 2nd St
Bonner Springs, KS
Firm
Cox & Neal

Data Provided by:
Mr. Joel K. Huet, CFP®
(816) 489-4444
6330 N. Lucerne
Kansas City, MO
Firm
Bank of Kansas City

Data Provided by:
Ms. Lucinda L. Richey, CFP®
(816) 587-7526
1805 NW Platte Road
Kansas City, MO
Firm
Prosperity Planning, Inc
Areas of Specialization
Asset Allocation, Budget Development, Charitable Giving, Comprehensive Financial Planning, Divorce Issues, Education Planning, Estate Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

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

Profession: Not Applicable

Data Provided by:
Mr. John T. Christy, CFP®
(816) 436-9939
5440 N Oak Trfy Ste 250
Kansas City, MO
Firm
Premier Financial Partners
Areas of Specialization
Asset Allocation, Budget Development, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Debt Management, Divorce Issues
Key Considerations
Average Net Worth: $500,001 - $1,000,000

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

Profession: Service Professionals

Data Provided by:
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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