Recovery in a Tough Economic Climate

The current economic slowdown has forced Canadian companies of all sizes to face the unwelcome reality of unpaid invoices or bad debts. Debt recovery can be a problem. Negotiating for debt recovery on your own can be problematic and ineffective.

Some companies operate exclusively using electronic payments, letters of credit or C.O.D. deliveries. Not all businesses can function using these methods exclusively or at all. There is another challenging level of challenge involved in dept recovery.

Consider the following story. A lumberyard sells a truckload of lumber to a general contractor to renovate a new restaurant. No documentation is exchanged between the two companies or the restaurant. The general contractor was given thirty days after the delivery to make a payment. The thirty days have come and gone and the lumberyard has not received a payment. Weekly phone calls are not effective in stimulating a willingness to pay because of the restaurants undisclosed financial difficulties that the restaurant is experiencing. Each conversation becomes increasingly heated causing tempers to flair on both sides.

What to do? Typically, the next step is for the lumberyard to prepare a stern “demand letter. However, such a letter may progressively alienate the customer making matters worse. If there is a problem with the accuracy of the name of the company and names of the owners further complications can ensue.

We recommend that Canadian Corporate Legal Services be brought in at this stage stimulate an amicable negotiation for dept recovery. Our first step in negotiating debt recovery would be to build a detailed file with all pertinent details. This may include yes; credit history, review of debtors actions in connection to this latest debt, names of those involved, exact company names, details of the goods supplied, taxes levied and times of shipping and receipt. Next, we would call the owner of the general contractor and establish a cordial working rapport. Politely but firmly we would indicate that we are acting on behalf of the lumberyard and were preparing to take the matter to court in a predetermined period of days. Emphasizing that the lumberyard has supplied a needed component of the restaurant. We would also appeal to the owner to arrange for payment in a timely and workable timeframe and point out that he might be liable to our client as well. If these calls fail, a demand letter is sent to the restaurant indicating the commencement of legal action. All these efforts are meticulously recorded. Generally, we achieve positive results without the need to go to court. If there is need we have the expertise to proceed quickly and successfully.

Canadian Corporate Legal Services has been actively involved in debt collections for over 20 years. Collectively, we have over 70 years of experience in helping companies negotiate and collect what is owed to them while preserving customer good will and a positive corporate image.

The importance of setting file

When we work or activity, we will surely find the file either for us or for others with different interests – different. Even the file can to accumulate very high and if it has been like that would greatly disrupt our activities. Takes place and make the room is not tidy.

Problems are caused by files that accumulate not just take up space and make untidy, also raises other issues such as when to search for files that have long accumulated. With so many files that accumulate will certainly take a long time to find files that are needed.
The place, time, and cost the victims with problems File – This file. Can you imagine the amount it costs to print a file – the file? Yaaa, it is not felt because it starts with a little, but if it accumulated a lot if you count it will taste great cost. And in the end the file it will accumulate and will cause other problems. Yet you also think if a big company with a beam of consumption very much, the company would have to prepare a special room to store many files and keep it from damage. Although to guard against this damage can not be guaranteed 100% and it will require an additional fee again.

Upon the suggestion of the government in an effort to reduce the impact of global warming. The government recommends to minimize the use of paper. Supposedly indeed are the days of using paper in today’s digital era. Time for all the files should already be a digital file, because a lot of benefits if all files are digital form. It can thus be made into a paperless document management to organize all of those files.

The benefits of using a digital file (Paperless)
1. Reduce the impacts of global warming
2. Save costs
3. Facilitate the file storage
4. Facilitate the search for a file
5. It does not take place, and make the room neat

Hopefully the above article useful and can be applied all around us.

Don’t Make These Invoice Mistakes!

If you’re a small business owner, your income depends on your invoices being paid. Unfortunately, mistakes made during the invoicing process can cause payment to be delayed or even damage your relationship with your customer. To avoid mishaps and ensure you get paid on time, avoiding making these common invoice mistakes.

 

  • Not including basic payment information. If you don’t tell a customer how to pay you, they won’t have any idea. “Make check payable to…” are four magic words that can make all the difference. It’s critical to include what types of payment you accept (such as check, PayPal, credit card) on the invoice with the necessary information such as where to mail a check, your PayPal email address, etc.
  • Not keeping records. Record keeping can be difficult, especially for creative types. However, not only does poor record keeping affect your bottom line it can also get you into hot water with the IRS at tax time. Websites such as www.aynax.com make it easy to manage invoices – for free! So there’s no excuse for not keeping track of your invoices.
  • Surprising your client. Sometimes things happen and projects end up costing more than your original quote to your customer. Don’t let your invoice be the first time your customer hears about it. That’s a great way to anger and lose that customer. Instead, contact the customer via phone or email so there are no ugly surprises on the invoice.
  • Neglecting to follow up. Maybe your customer honestly forget to pay you or misplaced the invoice. Maybe they just don’t want to pay. Either way, following up on unpaid invoices is extremely important. Not doing so implies getting paid just isn’t important to you, and that’s certainly not the impression you want to give. If unpaid invoices are an ongoing problem, you may want to consider posting a late fee policy on your invoices.
  • Waiting to send the invoice. If you don’t send the invoice, you won’t get paid. Waiting to send your invoice, much like not following up, tells your customer it doesn’t really matter when you get paid. If you take forever to send your invoice, your customer will probably take forever to pay it.

 

Many of the above problems can be eliminated by using invoicing software that provides templates, an invoice management system and online payment capabilities. This makes your life a lot easier and helps you get paid on time.

How to using relocation services

There are many reasons why a person or company to relocate, perhaps to get a better chance, confident to the surrounding environment and many other factors. The shift is an important part of an individual or group (the Company).

Relocation so that you do in accordance with the wishes and maximum results, you should use a professional relocation services. By hiring a service provider, you can reduce your efforts and headaches associated with the movement of the remote you want to think about the protection of your goods because they can handle the load of all goods and with much ease. Many providers of relocation services but of many there must be the best. Specify the budget used for relocation, then adjust the rates offered relocation services provider. You are located in Atlanta, if you’re looking for relocation services, it helps you use the Atlanta business relocation services that have been proven professional.

Before packing by the relocation service providers, make sure to group your property for example: breakable objects, durable, valuable documents, and more. Because with this kind allow you to control the property.
A way of packaging and shipping of goods it offered the service provider should know not to damage or even delivery of goods behind schedule expected. Make sure you get the security and safety of your property. Typically, personnel of relocation services will help with polite and reliable. Productive labor, corporations owned by the man who is trained to deal with the home and office relocation services.

In determining the tariff, relocation services usually depends on the type of personal or corporate tenants, the amount of property to be moved, packaging and delivery models as well as the distance relocation. There are several types of Moving Services, Moving House or Relocation. Moving Services Home or Office Moving Services is very beneficial for your budget and most importantly, for your peace of mind.

How to Select a Financial Planner

In these financially unsettling times, wouldnt it be nice to know you can still send your children to college, retire at 65 and be able to mail postcards from exotic locations to your future grandchildren? Its not only possible, its probable when your finances are in the right hands. While you may be skilled at handling certain money matters, chances are you dont even realize youre inept at others. To be safe, it might be time you considered the benefits of personal financial planners. Even if you feel you can perform several of the functions of a financial planner yourself, putting them all together into a cohesive strategy that produces solid, long-term returns is no easy feat. A financial planner can make that happen. When considering how to choose a financial advisor, youll want to sit down and really evaluate your needs. This depends, at least in part, on your stage in life, your goals and what you expect to receive in return. Are you a new college graduate with $50,000 in debt, $30,000 in income with a brand-new 401(k)? Or are you a 60-year-old trying to prepare for retirement? Once you figure out what youre looking for, its easier to determine how much help you need and where to look. How to Choose a Financial Planner Financial planners deal with everything from estate and tax planning to insurance and debt management to college savings and retirement funds. When figuring out how to find a financial planner, make sure to look for one who has experience working with others in situations similar to yours. As with any professional service, youll want to start by asking for suggestions from people whose judgment you trust. Ask acquaintances who have needs similar to yours, since a planner focused on the needs of young families may not be a good choice for recent retirees. Questions to Ask a Financial Planner Before selecting a financial advisor, youll want to do your research. Ask the following questions (created by the National Association of Personal Financial Advisors) to ensure they have the expertise and qualifications necessary to guarantee reliable service, and that they are the right fit for your particular situation: What is your educational background? College Degree: Graduate Degree:

What are your financial planning credentials/ designations and affiliations? NAPFA-Registered Financial Advisor Certified Financial Planner (CFP) Chartered Financial Consultant (ChFC) Certified Public Accountant/Personal Financial Specialist (CPA/PFS)

How long have you been offering financial planning services?

Do you have clients who might be willing to speak with me about your services?

Will you provide me with references from other professionals?

Have you ever been cited by a professional or regulatory governing body for disciplinary reasons?

What more can you tell me about your experience in providing financial planning services?

How many clients do you work with?

Are you currently engaged in any other business, either as a sole proprietor, partner, officer, employee, trustee, agent or otherwise?

Christmas Loan Bad Credit – Provides Financial Assistance to Bad Credit Holders

Most people are finding difficulty at time of scarcity of money and if Christmas is ahead of it then it leads to get them depressed. With lack of money they cannot be able to arrange everything that is required to celebrate Christians. People who have got bad credit scores are facing much difficulty at time of scarcity as no one will ready to provide them money seeing their meager scores. But today they do not have to bother any more as for them a scheme of Christmas loan bad credit has come up that includes no credit check by which people having bad credit records due to bankruptcy, arrears, delays can be easily improved.

Under this they can get instant help of christmas cash loan at anytime they want it to have .In this one can easily grab money up to 1500 for duration of 30 days. With help of money they can easily buy gifts for their near and dear ones, do shopping of various items for decoration in Christmas. There are various lenders found in market of UK who are there for the help of people by providing money to them to get them out of their financial crisis.

It is short term in nature for which people can use it to solve various needs which are short term in character. Without any submission of collateral against christmas payday loan by applicant to lender they can easily obtain money which provides more comfort and flexibility to apply for this. Procedure include in it is free from any hassle for which it is liked by most. They without disturbing their monthly budget can get all things done and make this occasion memorable one which is unforgettable. In UK this scheme has become very popular among people by which they can get money to get Christmas carnival more enjoyable.

One has to fulfill certain obligation to get money through Christmas loan bad credit which includes applicant should have got permanent citizen ship of UK, should be an adult. It will fetch you money for getting all their stress to get away from them during Christmas when all in mood of enjoyment. In this they get money with easy and comfortable repayment terms and conditions. They also require having a valid bank account by which they will not get any problem in transaction of money. So at times of financial crisis during Christmas people do not have to think much as they can easily get out of it with help of it.

Financial Advisor – Decide Your Danger Tolerance

Each individual has a risk tolerance that shouldn’t be ignored. Any good stock broker or financial planner knows this, and they need to make an effort to help you decide what your danger tolerance is. Then, they should work with you to search out investments that don’t exceed your threat tolerance.

Determining one’s risk tolerance involves several totally different things. First, it is advisable understand how much money you must invest, and what your investment and financial targets are.

As an illustration, if you happen to plan to retire in ten years, and you’ve not saved a single penny in the direction of that finish, you must have a excessive danger tolerance – because you will want to do some aggressive – risky – investing with a view to attain your financial goal.

On the opposite facet of the coin, if you are in your early twenties and also you wish to begin investing to your retirement, your threat tolerance will be low. You can afford to look at your money develop slowly over time.

Realize of course, that your need for a high threat tolerance or your want for a low risk tolerance really has no bearing on how you are feeling about risk. Again, there is a lot in figuring out your tolerance.

As an example, should you invested in the stock market and you watched the movement of that stock daily and noticed that it was dropping barely, what would you do?

Would you promote out or would you let your money trip? You probably have a low tolerance for risk, you would wish to sell out… you probably have a excessive tolerance, you would let your money ride and see what happens. This is not based mostly on what your financial objectives are. This tolerance is predicated on how you feel about your money!

Again, an excellent financial planner or stock dealer should aid you determine the extent of danger that you’re comfortable with, and enable you to choose your investments accordingly.

Your danger tolerance needs to be based mostly on what your financial targets are and the way you’re feeling about the possibility of shedding your money. It’s all tied in together.

Whats The Buzz About Data Entry Work At Home

Have you ever wondered why online data entry work at home jobs are becoming increasingly popular? Whats the buzz all about? Whats so special about online data entry jobs? This article will answer all of these questions.

First lets see what data entry is. Many companies want to have an updated database or want to make a new one such as database entry from transcription. Generally, good typists, who are proficient, are needed to make the entries and deliver the database on time. For this reason companies look to outsource the work and you will find a data entry jobs online becoming increasingly popular.

There are many reasons as to why, some of them are:
Time: You can choose your own working hours. How much you want to spend on data entry job depends entirely on you. This is especially helpful for those work-at-home moms who want to work part time while looking after their home as well.
Financial support: Once you start working data entry work at home you will see a sudden change in your financial status. Although your income level will slowly increase but it will definitely help and support you financially. You will see reduction in your living expenses especially.
In-Control: When you opt to work for data entry jobs you are the boss. You will make your own decisions as to which type of job you want to take up. Not only this you will choose the workings hours yourself. Once awarded, you can complete it anytime such as start working after dinner but make sure that it is completed in-time.
Variety: Having to do monotonic job is boring and one gets tired of doing same job over and over again but with data entry work at home this is not the case. Each time you will have a different job to perform and you can enjoy your work.

Financing Sr Ed Credits In Canada The Sred Tax Credit Loan The Case Against Waiting

Financing SR ED tax credits is the final ‘ connecting dot in your firms journey in Canadas SR&ED r&d refund program. We’re examining the SRED Tax Credit Loan; it makes a strong case against waiting for your refund. Let’s dig in.

One of the characteristics of the SRED program is that despite providing billions in funding for thousands of firms in Canada the amounts range from claims from 50k up to 1 Million $ +. For firms like yours that invest in R&D that investment can be a significant portion of your costs.

While R&D is to a certain point discretionary the reality is that todays competitive environment forces you maintain the maximum investment you can. SR&ED financing certainly assists you to plough back your maximum given that waiting for your refund is eliminated – cash flow is accelerated under the loan.

While the real objective of the program is to reimburse you for your R&D capital costs it seems logical that many firms wouldnt take advantage of the program if they couldnt recapture a large part of their cash flow investment. The main resource that many firms rely on are the ‘ SR&ED Consultants that assist firms in preparing their claims and working with your accountants to properly file the claim.

That claim eligibility is a key part of the SRED tax credit loan process as a quality claim prepared by an experienced consultant helps speed up the financing process. That ‘ process’ by the way is typically the most common question we get from clients on financing SR ED credits – i.e. how long does it take to get a SR&ED bridge loan and whats involved.

The good news? Claims can be financed in a matter of weeks, in certain cases even less time. And the actual application? Just as easy – typical requirements are a copy of your SR&ED filing, your financial statement and tax return and some miscellaneous info typical for any business loan – i.e. your articles of incorporation info, etc.

Timing is everything is an oft used clich in business. The good news around financing SR&ED credits is that last years claim is financeable, as is this years, and yes, next years also can be started along! Your ability to document claims properly just moves everything along. SR&ED bridge loans are financed at 70% of the value of your claim – in simple arithmetic: every 1000.00$ of claim nets you 700.00$ in immediate financing.

Very few business people dispute the value of R&D and the tremendous benefits attached to the SR&ED program – it’s equally a good thing to fund your claims and accelerate cash flow. Seek out and speak to a trusted, credible and experienced Canadian business financing advisor who can help you ‘ connect the dots ‘ in your refundable tax credit cash strategy.

Stan Prokop

Business Financing Top Benefits Of Mezzanine Cash Flow Loans

Business financing in Canada offers some alternate solutions not often considered by owners/mgrs. One of these is ‘ mezzanine’ cash flow loans. We’re covering the basics, an a to z approach, so let’s dig in.

The one main requisite of unsecured cash flow finance, i.e. ‘ mezz is positive cash flow. That cash flow, when structured properly, allows business owners/mgrs to consider growth options normally not achievable, as well as potential acquisitions of competitors. Often it’s the key financing building block in a management buyout also.

The reason this method of business financing in Canada works so well? Essentially it’s because it reduces the amount of owner equity or outside debt that is required to make your chosen strategy work. Given that ownership equity (or giving it up) is expensive the owners/mgrs strive to create a finance structure that gives them the most financing at the lowest cost. That ‘ blended ‘ cost of all their financing reduces overall interest rates.

Mezzanine cash flow finance is often considered as an alternative to a traditional banking structure. One way of looking at it is that it’s a way to fund future growth that otherwise might not be funded until some future point in time when all those required bank ratios can be achieved. What business owner does not want to accelerate growth!

The key concept around ‘ mezz ‘ is that it’s essentially unsecured lending; providing only a promise to pay by the owner with the normal secured required.

Why does the traditional banking solution not work when owners think they have the right mix of assets for a traditional bank type solution? The answer is that those assets are often ‘ discounted ‘ by the lender – receivables are not financed on a 100% basis, appraisals might not back up the book values, and in many cases firms these days have some significant intangible assets on their books, which are typically not financeable.

As we’ve stated business financing through mezzanine cash flow loans gives your firm a solid chance to grow – more quickly. These loans, when structured properly are matched to your actual cash flow repayment ability. An interesting point in the whole issue of ‘ mezz’ financing is that the senior secured lender, typically ‘ the bank’ will often view your mezzanine loan as in effect…equity.

These unsecured cash flow loans typically cost more , with higher rates often approaching the teens, but again as we’ve stated its cheaper than giving up or raising more ownership capital.

If mezzanine cash flow financing might meet your needs for growth, acquisition, or recapitalizing seek out a speak to a trusted, credible and experienced Canadian business financing advisor who can help you achieve the benefits of such financing.

Stan Prokop