Tighten-Up on Your Home Business Accounts Ville Platte LA

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. Donald C. Gardner, CFP®
(337) 852-5176
7583 Highway 167 N
Ville Platte, LA
Firm
D. Clay Gardner, LLC
Areas of Specialization
Education Planning, Employee and Employer Plan Benefits, Estate Planning, Healthcare Planning, Insurance Planning, Investment Management, Retirement Income Management
Key Considerations
Average Net Worth: $250,001 - $500,000

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

Profession: Not Applicable

Data Provided by:
Capital One
(318) 487-2142
1000 N. Shirley Rd
Bunkie, LA
Type
Branch
Services
Open on Saturday Branch Drive-Up
Office Hours
Sun , Mon 8 AM - 5 PM, Tue 8 AM - 5 PM, Wed 8 AM - 5 PM, Thu 8 AM - 5 PM, Fri 8 AM - 5 PM,
Drive Up Hours
Sun , Mon 8 AM - 5 PM, Tue 8 AM - 5 PM, Wed 8 AM - 5 PM, Thu 8 AM - 5 PM, Fri 8 AM - 5 PM,

Robert Morella
Apex Capital Management
(337) 984-7010
701 Robley Dr., Ste. 200
Lafayette, LA
Expertises
Retirement Plan Investment Advice, Ongoing Investment Management, Tax Planning, Estate & Generational Planning Issues, Hourly Financial Planning Services, Advising Entrepreneurs
Certifications
NAPFA Registered Financial Advisor, CPA/PFS

Keith Deane
Deane Retirement Strategies, Inc.
(504) 582-2345
1100 Poydras Street, Suite 2065
New Orleans, LA
Expertises
Retirement Plan Investment Advice, Retirement Planning & Distribution Rules, Ongoing Investment Management, Advising Employee Benefit Plan Participants, High Net Worth Client Needs, Advising Medical Professionals
Certifications
NAPFA Registered Financial Advisor, CFP®, CRC

Robert Reed
Personal Financial Advisors, LLC
(985) 898-0450
P.O. Box 3730
Covington, LA
Expertises
Ongoing Investment Management, Advising Medical Professionals, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, BS, CFP®

Chase Bank
(337) 407-8231
234 N Court St
Opelousas, LA
Type
Freestanding
Office Hours
Mon:9:00-5:00
Tues:9:00-5:00
Wed:9:00-5:00
Thurs:9:00-5:00
Fri:9:00-6:00
Sat:9:00-1:00
Sun:closed

Wells Fargo Advisors
(337) 942-5440
2414 Jake Dr
Opelousas, LA

Data Provided by:
John Hixson
Financial Management Professionals
(337) 433-4334
4841 Ihles Road
Lake Charles, LA
Expertises
Retirement Plan Investment Advice, Ongoing Investment Management, Retirement Planning & Distribution Rules
Certifications
NAPFA Registered Financial Advisor, CFP®, ChFc, CLU

Linda Deane
Deane Retirement Strategies, Inc.
(504) 582-2345
1100 Poydras Street, Suite 2065
New Orleans, LA
Expertises
Retirement Plan Investment Advice, Retirement Planning & Distribution Rules, Ongoing Investment Management, Advising Employee Benefit Plan Participants, High Net Worth Client Needs, Advising Medical Professionals
Certifications
NAPFA Registered Financial Advisor, AIF, CEA, CFP®, CRC, RFC

Lauren Lindsay
Personal Financial Advisors, LLC
(985) 898-0450
P.O. Box 3730
Covington, LA
Expertises
Helping Clients Identify & Achieve Goals, Advising Employee Benefit Plan Participants, College/Education Planning, Advising Medical Professionals, Retirement Planning & Distribution Rules, Women's Financial Planning Issues
Certifications
NAPFA Registered Financial Advisor, CFP®

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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