Communication the key to assuring prompt payments. (Entrepreneur's Notebook).EVERY business owner has to deal with habitually HABITUALLY. Customarily, by habit. or frequent use or practice, or so frequently, as to show a design of repeating the same act. 2 N. S. 622: 1 Mart. Lo. R. 149. 2. slow-paying customers. These aren't necessarily deadbeat dead·beat 1 Slang n. 1. One who does not pay one's debts. 2. A lazy person; a loafer. adj. Not fulfilling one's obligations or paying one's debts: a deadbeat dad. clients, but good customers who pay on their terms, not yours. They must be handled carefully, for while you need credit term compliance in order to run your business, you also can't afford to lose them as customers. Bureaucracies -- government agencies, universities and large corporations -- often have legitimate reasons for delaying payment. Often, information must be collected to authorize To empower another with the legal right to perform an action. The Constitution authorizes Congress to regulate interstate commerce. authorize v. to officially empower someone to act. (See: authority) a payment before an accounts payable person can prepare a check. Sometimes this information comes from different departments within the organization, and can take time to gather. When you are working with large companies it is important to keep in mind that they usually have the money to pay you and the, accounts payable people have no reason to hold on to your invoice any longer than they have to. However, they must follow established procedures within their company. While there's nothing you can do to alter the company's payment process, there are actions you can take to expedite payment. While working within the customer's system, you can speed up their payment process by providing all the information they need at once, so you won't have to wait for all the departments to send them what they need. Call the accounts payable person or controller and find out exactly what information they need in order to process your check. Write down their payment policy from start to finish. If you know a company requires original proof of delivery, make sure they get it. Keep a duplicate copy of the POD with your file copy of the corresponding invoice. Carol Frischer is a member of Holthouse Carlin car·line or car·lin n. Scots A woman, especially an old one. [Middle English kerling, from Old Norse, from karl, man.] & Van Trigt in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. and author of "Collections Made Easy." She can be reached at carolf@hcvt.com. Entrepreneur's Notebook is a regular column contributed by EC2, The Annenberg Incubator incubator, apparatus for the maintenance of controlled conditions in which eggs can be hatched artificially. Incubator houses with double walls of mud, a fireroom, and several compartments each holding about 6,000 hens' eggs were developed in ancient times; the Project, a center for multimedia and electronic communications at the University of Southern California The U.S. News & World Report ranked USC 27th among all universities in the United States in its 2008 ranking of "America's Best Colleges", also designating it as one of the "most selective universities" for admitting 8,634 of the almost 34,000 who applied for freshman admission . Contact James Klein at (213) 743-1759 with feedback and topic suggestions. |
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