Posts Tagged ‘policies and procedures’

The Over 90 Days Customer

Every business that sells on credit has had, has, or will have them at some point “Those customers who think your purpose is to bankroll them”. Here I am primarily talking about the customers whose accounts receivable with you are routinely over 90 days. I recognize that in some industries that over 90 days is the norm, but for most businesses, once a customer’s account gets to 90 days, there is a high likelihood that what they owe will become a bad debt. I touched on this in an earlier blog, 3 Low Cost Sources of Cash – Part 2, but here I want to delve into this in more detail. Read the rest of this entry »

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Purge, Purge, Purge

I recently posted a blog called Organize – Everything in It’s Place. In that I discussed the importance of staying organized, of having a routine time to do this, and some methods to aid in the process.

Okay, I’m organized. Now What?

If we have stayed on top of our organization we will soon notice that we accumulate an incredible large number of files. We all know that they are not all useful or needed, but just looking at them makes us want to Read the rest of this entry »

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Organize – Everything in It’s Place

It may sound unusual for someone from a structured background like finance and accounting, but I’m one of those people who by nature do not like to organize things like paperwork. Don’t get me wrong, the initial task is not what I mind, but rather the maintenance required for staying organized.

Do It Anyway

The bottom line is I do it anyway. Not that I’m as neat as many others, but I recognize the need to keep a fair degree of organization.

A Simple Method

Recognizing that many of you are like me and tend to postpone this task, I have found that there are a few little secrets that help. Read the rest of this entry »

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Is the Customer Always Right?

More than likely you have heard the expression, “The customer is always right.” Many people just take that saying at face value.

Just What Does That Mean?

Really now, is the customer always right? I think we all know nobody is always right. So if we know that, then why do we use this expression? We’ve all dealt with a customer who was upset (maybe even irate) that we knew was taking an unreasonable position. So what should we do? Read the rest of this entry »

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Income Taxes, Bureaucracy, Policies and Procedures

Having just finished my personal tax return, I am reminded why Income Tax Preparation and Planning are services I have never had an interest in providing. There are two reasons why:

  1. My belief is that this service is specialized and should be handled by someone who makes it their specialty
  2. I also believe the U. S. Tax Code is absurdly bloated and complicated, causes countless wasted hours to comply with, and in the end is non-productive

Increasing Complexity

Like the U.S. Tax Code, over the years companies have a tendency to add layers of bureaucracy and increasingly complex procedures. If you own a company or have worked somewhere for an extended period, stop for a moment and look back to what the company was like when you first started. Chances are things were a lot simpler and perhaps more efficient. Read the rest of this entry »

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Don’t Let Accounting Kill Sales

Have you had an experience similar to this?  A few weeks ago I returned some items for which I had paid cash.  The person at the return desk scanned my receipt, got out the correct amount for the refund, and then Read the rest of this entry »

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