The holiday sales season is a golden opportunity for businesses. But December busyness does not always convert to increased sales or positive cash flow. Here are three tips to boost your sales this holiday season to improve cash flow: Improve customer service. Increase sales value. Plan for the worst in advance. Improve customer service. Customer
A creditor is someone – an individual or a business – owed money for goods delivered, or labour performed, or loans extended. Creditors are entitled to collect on money that are due them. Debtors are also obligated to pay what they owe. But, to be effective in collecting on debt, creditors need to remember the
In 2015, the Australian Taxation Office (ATO) pledged tougher tax collection. The tax office estimated $20 billion in tax debts and it was running low on cash. One of the actions proposed by the ATO was lowering the benchmark for legal action to $93,000 from $340,000. Slater Byrne Recoveries warned that ATO’s actions could hamper
Debt recovery is a multi-stage process that involves subtle to more forceful actions. A letter of demand is an act of last resort in the debt recovery process. It becomes necessary when your repeated attempts to recover unpaid debts have failed. You use a letter of demand only when you have exhausted all steps in
Debt recovery efforts will be improved significantly following announcement by Australia’s Finance Minister Mathias Cormann last week that the federal government will now be using e-invoice and begin paying businesses late payment interest. The new rules are set to take effect on 1 January 2020 starting with the Department of Finance and Services, with the
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