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Let me introduce you to the world of Hi I'm Sally

Let me introduce you to the world of Hi I'm Sally. It has all started a long time ago. In 2001 to be specific. In 2001 at the age of 21, I moved from Germany to Ireland. A year prior I finished my degree in Business Administration and after a few contract jobs, I thought it would be a good idea to get some international work experience. The one part of my apprenticeship that I always liked was accounting, and accounts receivable in particular. So I found myself a job as Credit Controller at Xerox in Dublin.   There I was trained for weeks to ask the right questions and on how to calm people down if they are stressed or...

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5 signs that show that you have a Cash Flow problem.

1. Unfortunately, not uncommon, you were not able to pay yourself or your staff a set amount of money every fortnight/month. 2. You always aim for new business to pay off older debts. 3. You maxed out, or at least paid parts of your business expenses with, your private credit card. 4. You have no clear understanding of how much money exactly is outstanding, how much other businesses owe you. 5. Your bank refuses to give you a loan. If only 2 of the 5 signs look familiar, you need Hi, I’m Sally. Hi, I’m Sally is you in-house/external money chasing service and our services start from as little as $59. Our slogan is: Get a bit less but get it....

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SME Debt Collection - 7 tips for 2019

Reduce your risk of outstanding debts. Be smart when taking on new customers. Run a Credit Check Develop a Credit Policy Include all relevant detail in all communication Remind debtors before the due date Keep your records up to date Have a collection plan ready (or get in contact with us) (We will) Send reminder Letter as soon a payment is due Consider hiring a specialist (better you hire Sally!) Read More:  https://financebusinesstrading.com/small-business-debt-collection-tips-for-2019/

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5 tips for a good cash flow

According to the Australian Business and Family Enterprise Ombudsman 90% of small business owners fail due to a poor cash flow. There are other factors contributing to the failure but a lack of cash flow is the most significant one. However, if you live by some basic rules you’ll be able to maintain a healthy cash flow. Good record keepingKeep your records clean and up to date by separating your business and personal accounts. This way you are on top of your finances at all times, you will have to spend less time sifting through redundant information and all the important information - such as “how much money is available on the back account - will be available for you...

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What is Money Chasing?

Simply said, Money Chasing is the personal act of following up on a businesses outstanding debt. However, there is a more elaborate explanation. Money Chasing is part of the duties of an Accounts Receivable Administrator or Credit Controller in larger organisations and corporations. A company’s AR team constantly evaluates the number of and the amount of outgoing invoices, with the money coming in. The Credit Controller also follows up on due and overdue outstanding invoices, negotiate payment plans, offer discounts and - if necessary - work with debt collectors and lawyers to retrieve those debts. Money Chasing is a task that is usually done for an outstanding amount that just overdue or overdue for up to 6 months. The recovery...

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