I often take some time during the Memorial Day, 4th of   July, and Labor Day weekends to assess where we stand as  a country and to be thankful that I live in the United States.     Think about what it must be like to live in a country in which you would be jailed, beaten or even killed for speaking your mind. The town hall meetings, in which ordinary citizens (no, not mobs) have confronted elected officials this Summer are an excellent example of why our country is so great.   We now have an administration and congress in power that is doing everything it can to transform our democracy to that of a socialist nation.  Many readers may find that to be a harsh comment

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Labor Day is a Time for Reflection

Let’s say your janitorial company has been growing modestly and even though you’ve extended credit to your customers, cash flow is reasonably stable.  But then your dreams are realized:  you’ve landed a new contract with a large  credit worthy customer that will really put your company on the map.  The contract calls for service work to be performed at several of their locations.  The terms are net 30, but your research shows they typically pay their vendors in 40 days. Invoice factoring would probably be an ideal fit for this company.  An increased amount of working capital will be needed because additional staff will be hired and payroll is weekly.  If  invoices are generated monthly for the work, four payrolls have already gone by before the first billing.  If the customer pays on time, four more payrolls will have been met.  That really stretches out the amount of funds available.  Accounts receivable factoring can provide the needed working capital to meet this growth because when the invoice is generated, the factoring company advances up to 85% of the invoice amount in cash within 24 hours.  The cash will then be available to meet upcoming payrolls and overhead related to the new contract

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Factoring for Growth Oriented Companies

Invoice factoring gives companies the working capital they need to grow their businesses.   Receiving funds from factoring can help a firm take on new business, take advantage of vendor discounts, and stabilize cash flow.  But did you know that many factoring companies offer more than just advancing cash on a pool of receivables? When a business enters into a factoring arrangement , they are able to take advantage of other services available to them: Comprehensive accounts receivable management reports that shows detailed results of collections, number of days outstanding, etc. Many factoring companies offer professional collections so you can concentrate on what you do best – run the business.

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Factoring Companies Do More Than Provide Funding

Owning a staffing company can be a very lucrative experience.  But even those companies that are highly profitable can be challenged by a lack of working capital to meet ongoing expenses, particularly payroll.  The problem is compounded by having to wait for customers to make payments to you.  Since these types of businesses have few physical assets to borrow against, staffing company invoice factoring is an excellent way to acquire the cash flow needed to operate effectively. Invoice factoring works like this: You submit your invoices for work that has been performed and approved by your customers to the factoring company .

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Staffing Companies Get Working Capital from Factoring

Cash flow is the life blood of any business, but even more so with trucking companies.   Trucking companies must always be concerned about the costs of fuel, truck repairs, rentals, and salaries for the drivers and administrative staff.  Many of these expenses must be paid at or near the time they are incurred, so an adequate level of working capital must be maintained. Unless the trucking company has a large amount of cash on hand, waiting 30 to 60 days to get paid by their customers can cause a dire situation.  The answer to the dilemma of cash out today versus cash in later can be rectified with freight bill factoring .  This form of financing provides an infusion of cash that maintains working capital, fuels growth, and offers other services such as collections and credit protection.

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Freight Bill Factoring for Trucking Companies

Unless you have some sort of plan for controlling revenues and expenses, how can you expect your business to thrive or even survive?  Budgeting is a tool that must be implemented for businesses large or small.  Consistently monitoring the results of your operation against what was expected allows you to make important adjustments that can enhance the cash flow of your business. I came across an article written by Glenn Curtis that gives some great pointers on how to best utilize budgeting as a financial tool.   Read Six Steps to a Better Business Budget and follow the guidelines religiously.  You’ll find that over a period of time, your chances of success will grow exponentially.

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Budgeting is Critical for the Success of Your Business

Accounts Receivable Solutions wishes to announce that it has expanded into the following areas: Brisbane Brisbane suburbs Brisbane North Brisbane South Brisbane West Gold Coast Coolangatta Surfers Paradise Nerang Logan Beenleigh Tweed Northern Rivers Lismore Casino Coffs Harbour Port Macquarie Newcastle Sydney North Sydney East Sydney West Sydney South SydneyThere are plenty of jobs being advertised in these areas for people who are experts at credit control and accounts r

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Expansion Nationally