Cash Management
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Credit Payment Systems & Terms
We've experienced an increase in accounts switching to Credit Card payment systems using V-Card, P-Card systems. We're talking B2B payments - usually in the $2-5k range, some >$25k. Business is conducted using Purchase Orders, manufacturing (quick turn around), Sales Orders, well documented conf…
1
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Accepting Credit Cards for payments of premiums etc
At my Company we accept credit cards for payment of premiums for car and home insurance. I am looking to see if there is any service out there with lower fees that would do this service and automatically transfer the funds collected on a daily basis to our bank account. Does anybody use any company…
2
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Has anyone compared two or more of the high volume transaction reconciliation tools offered by Chesapeake, Trintech and Blackline?
We are considering implementation of one of these software package for bank recons with activity of approximately 2,000 transactions per day. What vendor did you ultimately select and why? We are interested in ease of set up and use as well as the flexibility to add other reconciliations, such as p…
3
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ACH solutions for Canadian activities?
Does anyone have experience with paying contractors/vendors within Canada other than via wire? I'm having a heck of a time trying to find a cost and time efficient solution, akin to systems we have in the US such as Bill.com, or standard bank bill pay services. The Canadian banks appear to be sever…
7
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Guidance on $$ amounts that companies will pay by credit card for software
I am working with a company moving to SaaS and they are setting their price (which will be one year up front and not monthly). They are thinking of $25,000 but are not sure if their customers (which are large enterprises) will be willing to charge this much on a credit card. My client wants to have…
4
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Corporate Purchasing Card
I am in the process of looking to implement a Corporate Purchase Card program in our company. I have recently found out that a lot our our online services are paid via the employee who then get reimbursed by the company. Some of these services are critical so that when an employee leave also does…
11
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Is hedging really about predictability and not profits
I was on a recent webinar on this topic and although a long-time finance leader, I must admit to have particular ignorance on hedging. I always thought it was about making bets on currency to maximize profits when doing business outside of your "home" currency. However, the webinar drove home to me…
7
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working capital management wisdom needed
I consult for a number of firms. My biggest client has working capital problems, which makes me nervous. I work with the CFO, who is s super nice guy but maybe not the best CFO in the world. I'd like to help improve the situation. Their problems are too many to list. What's your working capital …
9
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cumulative translation adjustment (CTA) as double entry
After consolidating the balance sheet of a multinational operations company, the different exchange rates applied for translating to the presentation currency (Current rate method) in the different parts of the balance sheet, generates an imbalance in the fundamental accounting equation. Currenctly…
3
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Could someone describe SOC 2 reporting & compliance vs PCI?
This question was asked by an attendee at a recent Proformative SAS 70/SSAE 16 event: Could someone describe SOC 2 vs PCI?
1
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Credit Insurance - financing multiplier or just another bogus product?
I read a recent industry produced info-article on credit insurance. It can be used as a risk mitigation technique It can be used as a way to improve liquidity and finally it can be used to support growth. What do you think?
7
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What Is Trade Credit Discrimination?
"What is credit discrimination (as related to trade credit) and what legal issues do I need to be aware of?" This question was asked at a recent webinar, now available on-demand: "Essentials of Working Capital Management: Trade Credit & Collections" Please add your thoughts about it below. Than…
1
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Approval limits for cash payments?
We are a large electrical coop with $9B+ in assets. We are reviewing our policy dictating the dollar amount requiring additional approval for payment by a senior member of management (SVP or higher). We would like to compare our current limit ($10k) to that of other companies. Would you mind sharin…
12
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Banks and Lending
As we all know, contrary to the marketing dogma, the bank really isn't your friend (nor is the insurance company). The system as I've experienced it is you talk with a banker, who talks to another banker, who then fills out the forms. That unknown person may or may not talk directly to the whole co…
2
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EMV Financial Impacts?
How will the EMV regulations effective 10/15/15 impact your business? We have credit card swipe machines at every workstation and with multiple locations; I'm looking at a significant expenditure.
4
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What are the best Mobile Payments Systems
I am finance director for a 2-day art show put on by our Rotary Club. What are the pros and cons of the various mobile payment systems out there?
8
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Can I find an investor for a film maker and charge a finder's fee, or commission.
I am familar with an independent film maker who is looking for investors. I have a person that has indicated an interest. The problem is that I want to be compensated, in some way?
3
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Who takes the risk of FX?
You have commissioned salespeople. You are starting to sell globally. You will incur FX gains and losses. Who takes the risk, the house, the salesperson or is there a split (along commission % lines?)?
4
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2015 NACHA Operating Rules & Guidelines
I received a notice from my bank that we are required to purchase the 2015 NACHA Rules & Guidelines in order to continue using their ACH services. Is this a common requirement of commercial banks? I believe that the cost is nominal; however, it is more of a matter of principal.
1
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B2B credit card payments
Do you use your Corp Credit Card to pay expenses? If so, why? On the flip side, do you accept credit cards for B2B payments, and again if so why? If you accept credit card payments, do you permit them at the end of credit terms or only at time of sale? What is the effect of the discount rate (swipe…
5
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Any suggestions on how to give foreign subsidiary contract signature authority on behalf of US parent company and not run into PE (permanent establishment) issues
The US parent company has a wholly-owned, foreign subsidiary who is providing sales and customer service in Europe. We have an intercompany service agreement in place wtih transfer pricing (cost plus markup). The sale of product is between US Parent and customer. Our tax advisors have cautioned …
6
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Bank Accounting : Reporting Responsibilities
I have a general question/interest in understanding the Bank Accounting functions within institutions as they relate to Treasury Departments (specifically Retail). From my understanding, most companies seperate the responsibilities of bank activity reconciliation and bank account management betwee…
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