Posts tagged ‘collections’

 

Small Business Accounting and Control Quiz

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Take this Test Score one point for each yes answer Cash Do you actually see a checking account reconciliation every month? Is this true – My checking account reconciliation never has an “Unlocated” or “Unidentified” amount listed? Do you compare the checking account reconciliation with the bank statement? Do you as owner sign all checks […]

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Cost Recovery Audits

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This is VERY old news to most seasoned auditors, but there is a new generation coming through the ranks who may not be up to speed. Auditing your telephone service is an almost guaranteed way to generate future cost reductions and sometimes, even refunds of past inaccuracies. This can be surprisingly complicated, and there are […]

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Collecting from a collections expert

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  One tax client was a local attorney who specialized in collections work. He would come in the week before April 15 and dump his records on my desk. This included the law firm’s business Schedule C. I got the return done and filed on time for him because tax preparation is a SERVICE business. […]

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Collecting from a company in trouble

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I traveled out of town to a company that needed help with their accounting system. I gave them a discount on the travel time and expense. I did about $1,600 worth of work over about 3 weeks time and sent them an invoice. A month went by and no check. Another month went by and […]

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