Managing Marginal Accounts for the Cash-Flow Edge Oldsmar FL
A good source of potential revenue hidden among accounts receivable is marginal accounts in Oldsmar. When collecting these accounts, producers must be ready to take swift legal action at the first indication that the company may not get paid.
Brian Harner
4010 W Boy Scout Blvd
Tampa, FL
Brian Harner
4010 W Boy Scout Blvd
Tampa, FL 33607
Company
Company: Principal Financial Group
Education
Pennsylvania State University
Years Experience
Years Experience: 15
Service
College Planning,Wealth Engineering,Pension for Highly Compensated Owners,Stock Market Alternative,Wealth Management,Health Care Insurance,Retirement Planning,Long-Term Health Care Planning,Business Succession & Liquidation Planning,Estate Tax Planning,Asset Protection Strategies & Planning,Individual Income Tax Planning,Long-term Care Insurance,Portfolio Engineering,Mortgage Refinancing,IRA, 401k, Roth IRA, QDRO Rollovers,CD Alternative,Disability Insurance,Annuities,Alternative Asset Class Pla
Data Provided by:
Fuller Richard J Cpa Pa
(727) 536-2101
2191 Citrus Hill Rd
Palm Harbor, FL
Accounting Principals
(727) 210-1589
2963 Gulf To Bay Blvd Ste 265
Clearwater, FL
Boylan & Boylan Inc /Accounting & Tax Planning
(727) 796-4970
600 Bypass Dr Suite 104
Clearwater, FL
Beacon Business Services
(813) 265-1110
15910 Eagle River Way
Tampa, FL
Edwards Douglas F CPA PA
(813) 855-5433
4025 Tampa Rd Ste 1111
Oldsmar, FL
Allgood Financial Services Incorporated
(727) 735-6177
1615 Main St
Dunedin, FL
B&N Tax and Accounting Services
(727) 442-6099
1932 Drew St # 3
Clearwater, FL
Carl T Watkins CPA
(813) 884-7245
5103 Memorial Hwy
Tampa, FL
Davenport Business Services
(727) 581-9690
451 Central Park Dr
Largo, FL
Data Provided by:
Source: THE CONCRETE PRODUCER/CONCRETE JOURNAL MAGAZINE
By Lloyd W. Eichorn
Abstract: A good source of potential revenue hidden among accounts receivable is marginal accounts. When collecting these accounts, producers must be ready to take swift legal action at the first indication that the company may not get paid. The efforts of full-time credit managers will provide financial returns almost immediately. The best person for the job is someone who knows a company's customers and can establish good rapport over the telephone. Knowing how to work with marginal accounts is what distinguishes the star performers from the merely satisfactory.Of all accounts, 50% are very creditworthy (VCW), 20% are not creditworthy (NCW), and 30% are marginally creditworthy (MCW). Credit managers earn their keep by approving and monitoring MCW customers because this increases sales without interfering with cash-flow goals. Marginal accounts require special security tools that allow your company to approve a sale while minimizing risk:
- Personal guaranties
- Joint check agreements
- Performance and payment bonds
- Mechanic's liens
There are some long-term benefits of these approaches. First you're helping your sales staff by establishing a consistent set of credit rules. Second, you're keeping a customer that would be purchasing from your competitor. And third, you might be helping to create the new largest contractor in your area.
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