Archive for May 2018

The Essential Choices That You Are Sure of In Factoring Now

There are shipments to the buyer is done standardly, through the “Sales of goods / services” and issue an invoice.Assign the request to the agent with a similar document. The operation is not subject to taxation, so you do not need to issue an invoice.

Your Smart Options

Write off a monetary claim from the buyer (usually carried out as “Other expenses”). To do this, create a document “Debt write-off”, select the type of debt “Debt of the debtor”, select the customer by the debtor and tie up the cost item.

The first payment from the factor is carried out as “Payment from the buyer”. The payer chooses his financial agent, at the base of the payment pull up the implementation, on which the assignment was made.For the services rendered, the agent levies a commission on which it is necessary to pay VAT. Create a new “Receipt of goods and services” and enter an invoice on its basis. The support of the factoring company is essential now.

The Second Part

When you receive the second part of the amount after deduction of commission, the balance of the debt is closed with the document “Offsetting accounts receivable”. The creditor and the debtor choose your financial agent. If you fill out the document automatically (using the “Select by balances” button), then the “Debt receivable” tab will show the balance of the assignment debt, and on the “Debt of the creditor” tab – the invoice for the commission.

Take to deduction of VAT on commission, for this purpose, in the journal “Formation of purchases book records”, create a new regulated document.Important! When working with this algorithm, make sure that the factoring agreement is correctly selected in each document.

Factoring in the Country: Advantages, Disadvantages and Prospects

The convenience of factoring is confirmed by the benefits that each participant in the transaction receives.

Supplier Factor Buyer

  • There is no receivable.
  • Income from commission.
  • Deferment of payment.
  • There are no financial risks.
  • Growth of the customer base.
  • Possibility of payment in installments.
  • Fast turnover of capital.

Increase in profitability

The main disadvantage of factoring until recently was a cumbersome and not always transparent document flow, which at times increased the transaction cycle and costs for it.

Decreased commission

Decreased labor costs for document processing.Shipment of goods and receipt of payment became possible in one day.Knowing the rules and features of factoring operations, it is easy to understand whether they suit you or not. However, it should be taken into account that factoring is ineffective with too rhythmic schedule of shipments and payments.

Insured to send a package within the Country

With Load boardpackage shipping companies, valuable goods that you send are extra insured against loss or damage to the contents. This way you can send your valuable goods within the country with peace of mind.

For the service you enter the value that you want insured, with a maximum of $5,500. You do this at your Post Office. With 2900 branches there is always one in your area.

What does it cost?

The costs for sending a package within the country depend on the size and weight of your package.Does your package weigh up to 10 kilos, but is it larger than the maximum dimensions? Then you pay the rate of a package that weighs 10 to 30 kg. With the right Load board service you will be having the best option now.

How can you prepare your parcel for shipping?

In order to package and address your package in the right way, experts have put a number of tips for you in a row. In that case you will ensure at least:

  • complete and correct addressing (including a return address in the country)
  • good packaging of the contents of your shipment
  • to properly close your package, use a Sealbag if possible

Delivery package

Have you issued your package with Insured Service at the Post Office? They strive to deliver it the next day also on Saturday. Packages that you issue on Saturday will be delivered on Tuesday.

Is the recipient of the package not at home the first time? Then they will try again later. The addressee must always sign for receipt. Your package will not be delivered to the neighbors. Is the recipient not at home during the second attempt? Then he can pick it up at the Post Office within two weeks.

If something goes wrong

Is the contents of your package damaged or is the package missing? You can contact their customer service for this. Then they set up an investigation. Does this study show that you are entitled to compensation? The amount of this depends on the value of the contents of your package.

Note: To be eligible for compensation you must report the damage within 7 days after delivery (except Sundays and public holidays). They need your shipping receipt and photos of the damaged package. It is therefore important that you keep it.

Hence it is always better to maintain good packaging and ship with registered shipping companies.

Great Suggestions On How To Grow Your Business For Free

As an online retailer, you are always looking for ways to increase your sales and optimize your profits. Whether you want to increase visitor traffic on your website or increase your average order value, options are endless. However, many of them not only eat tons of time but also money. Factoring company provides you 12 tips on how to grow your ecommerce business for free and get more revenue and long term success.

  1. Offer customers a working customer service

With a functioning customer service, you can sustainably increase the loyalty of your customers. The alpha and omega here: Always give your customers the feeling that they are special. Offer your customers an unforgettable service.

  1. Pay attention to a psychological pricing

Believe it or not, you can have a big impact on how your customers make purchasing decisions. They determine the rules. Through psychological pricing in your online store, you strategically set prices for your products and offerings that could potentially drive customers to spend more.

  1. Discover mobile customers for themselves

According to a study, mobile online sales in 2018 are expected to break the $100 billion mark. Get a piece of this potential that also makes your online store suitable for mobile use and provides you with the most important functions for a seamless mobile surfing experience.

  1. Integrate compelling shipping options into your strategy

Taking offers as an incentive for customers is always a great way to increase conversion rates and reduce order cancellations. With these four shipping strategies, you can win the 55% of customers who make their purchasing decisions based on the cost of shipping.

Free shipping on a specific order value – if you can afford it, you should offer this option! Define an order value, from which the customer can save the shipping costs. Make sure that this strategy is really worthwhile for you and set the free shipping. Express delivery – Customers who want to get their orders quickly in their hands, can offer you an express delivery option with a delivery time of one, two or three days. Unit price for shipping – this option is especially effective if you mainly sell products that are very similar in size and weight. Free return – With this strategy, you gain the trust of many customers.

  1. Put on email marketing

Regular e-mails can add value to your online store, promote special offers, increase traffic to your website, increase sales, and build a closer relationship with your customers. Here are a few examples of email campaigns that do just that:

  • Welcome emails for new subscribers
  • Welcome emails for new subscribers
  • Monthly newsletters with information on new products and offers
  • Birthday emails
  • Notes on new or similar products
  • Ask for product reviews and feedback
  • Reminders of open shopping carts
  • Reminder emails for customers who have not been in your shop for a long time

You can also be inspired and have a look at some of them that are guaranteed to work!

The Best Advice to Find a Low Interest Home Loan from a Money Lender

As its name indicates, the credit between individuals is an operation in which the lender and the borrower are individuals.There is no bank involved in this type of loan, which can sometimes lead to excesses as well from the borrower as the lender.

For a Singapore lowest interest refinance home loan between individuals to be serious, it is imperative that both parties are serious and respect their respective commitments. This is of course also the case in the case of a repurchase of credit between individuals

Know how to judge the seriousness of a lender

When a person looks for a loan between serious individuals, he implies that he wants to find a real lender. The search for a private lender takes only a few days for some and a few months for other people. In the sector of credit between individuals, scam attempts are very common especially on the internet. In fact, there are many private individuals who pretend to be low-rate money lenders and who ask for a certain amount of money for so-called fees. This is the biggest and most common scam on personal loans. So you must opt for low interest Singapore licensed money lender to avoid any such fraudulent activity.

However, there are other factors to consider in determining whether it is a serious lender or not.There are several points to judge whether the loan between individuals is serious:

  1. The interest rate proposed by the lender

The first point to consider is the interest rate offered by the lender. Generally, in the case of a credit between individuals, the interest rate is cheaper than those offered by banks. However, the rate offered by the individual must not be 40% cheaper than that of the bank. Keep in mind that the goal of a lender is to make money through the interest rate of the loan. As a result, in the case of a serious lender, it is in the best interest to try to offer the highest rate in order to maximize its earnings.

  1. The proposed sum of money

Another criterion is the amount offered by the lender that usually does not exceed 10,000 for a serious lender. Individuals offering to lend tens of thousands of money are in 99% of cases to flee.

Regardless of the amount loaned, it is always advisable to politely ask why the person is lending money to other individuals. If he replies that he prefers to lend this money because of low bank interest rates, this lender seems a priori honest and serious.

  1. His past as a money lender

There is an important question to ask in order to determine whether one is in the case of a serious and honest personal loan.Ask the individual if they have loaned money in the past or if it is the first time. This question is important from a legal point of view insofar as an individual does not have the right to lend money to more than one person because it would be considered a bank, which is strictly prohibited.

  1. The signing of the contract at the notary

The finalization of a loan between individuals generates fees and, therefore, only a minority of loans between individuals requires the services of a notary. Thus, in the case where the lender proposes to use a notary, it means that it is serious and in this case the loan between individuals will take place in the best conditions since a notary will have framed the operation. Passing through a notary secures the transaction for both the lender and the borrower.

By following the tips and tricks above, this avoids any financial disappointment for both the borrower and the lender.

Best Results Of E-Invoicing With the Account Receivable Financing

You probably know now the benefits of e-invoicing. We have already presented them in an article of this blog. But how do you convince your customers and suppliers to follow you? Here are some tips to help you.

Inform your customers

Nobody likes to be faced with a fait accompli. Start by taking the time to inform your customers and suppliers and explain to them that you would like to switch to electronic invoicing. Of course, you do not have to ask everyone directly to change the system.

Start with customers and vendors who seem interested in e-billing or who do not think you will. You can then create on your website a page where they can give you all the information you need.

Make sure it only takes a few minutes. Also make sure your customers have to change as little as possible. E-invoicing should not waste time or money. She would not really have any more interest. So remember to give them all the information they need to make this transition as simple as possible. You can get the options for the accounts receivable financing now.

Keep things simple

Use simple and understandable terms. Often, the way this system is presented – when it comes to XML or EDI files – is enough to discourage many people. Naturally, be sure to highlight its advantages: saving time, reducing errors, simplicity, etc.

For example, most accounting software makes it possible to create a PDF , a format that almost everyone knows today. So your supplier only has to send you a PDF document by e-mail, a solution that is clearly easier and faster than printing an invoice and sending it by post.

Reward your customers

Why would not you give your customers a small discount when they accept an electronic invoice? This discount will be quickly offset by the benefits of this system.

You can also organize actions in parallel: for each customer or supplier who will switch to electronic invoicing, you will for example donate to a good cause, or put into play gifts that participants can try to win. Let your imagination be free!

Start with yourself

If two people wish to switch to electronic billing, one will have to comply with the terms and method of the other. Rather than expecting your customers and suppliers to make every effort, ask them how they are doing exactly and adapt your procedures to their own. They will then show themselves probably much more conciliatory.

Tips To Find The Right Budget Friendly Factoring Company

If you have a small business and you are unable to collect the credit from your clients, then you should seek help from a factoring company. There are multiple factoring companies are present in the market and they offer invoice financing at a low-interest rate. There is no doubt that, the factoring companies offer the invoice financing at a lower interest rate than the commercial banks, but that is not sufficient for a business which has a lot of bad credit. If you are dealing with bad credit and get out that situation as fast as possible, then you should hire a budget-friendly factoring company for your business. Choosing the budget-friendly service provider doesn’t mean you have to compromise on the quality of the services. If you are willing to hire a budget-friendly factoring company, then you have to consider certain things before hiring the company.

Compare The Interest Rate: Comparing the interest rates of the factoring company will help you to get the best quality services at a competitive price point. Asking friends and subordinates to find a factoring company is the most common way to get recommendations. But this is not sufficient if you want to hire the best factoring organization for your business. use the internet to make your search and try to collect the contact number of at least 10 different factoring company. This will help you to get the contact number of best factoring company in a convenient manner. Now ask the companies for a quote and compare their interest rates. Different factoring companies offer their services at different interest rates, and comparing the rates will help you to find the most budget-friendly organization for your business.

CollectReviews: Hiring the budget-friendly factoring company will not be enough if they are unable to collect the bad credit from your clients. That is why before hiring any factoring company, collect reviews from their previous clients. This step will help you to avoid complications, which may arise in the future. The reviews will also help you to get a clear idea about the success rate of the factoring company.

Following the above-mentioned tips will help you to find the budget-friendly factoring company for your business.

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