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Accounts
Receivable
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If you are in the business
to sell your product or service to other businesses, cash sales are infrequent.
You can collect on delivery (C.O.D.), but most commonly you will send your
invoice to the customer or you will include your invoice with delivery
of your product or service, and you will wait for your cheque.
Your goal is to collect
all the money owing to you, because if you don't collect, you've not only
lost your profit, you're in same time stuck with the cost of producing
your product ot providing your service.
Manage your receivables well,
because they represent a cost. Establish a workable and realistic credit
policy, check out your potential customers, monitor your receivables carefully
and take action if payment fails to arrive. |
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TIPS
- Check
with credit reporting agencies and bank your potential customers. You have
to pay for report, but this cost can help prevent bad debt losses.
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Your shipping memo and/or your invoice are usually only formal evidence
of credit you'll have, make sure they are signed by the buyer.
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For large order, ask for a purchase order before you begin work.
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If an order is particularly large, you might ask for a portion of payment
before you start the work or ask to be paid in installments. |
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payments don't arrive on time, take action, send a letter or phone, but
talk to your customer before taking legal action or calling on a collection
agency. Your customer may be experiencing just temporary problems and would
be willing to pay in installments |
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BACK
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Governmental
and Private Foundation Grant Programs
There are more than 25,000 Governmental
and Private Foundation Grant Programs available
in the U.S. Today. Why haven't you heard about these programs? Because
the U.S. Government and Private Foundations DON'T ADVERTISE these programs.
Note:
Depending on the requirements of the program, you may or may not qualify
for the programs, FIND
OUT MORE... |
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Unclaimed
Funds
You may be eligible for a unclaimed
money refund.
You may have seen special reports
on unclaimed money on Oprah®, CNN®, The Wall Street Journal Report,
CNBC®, Montel Williams®, and Dateline NBC®.
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