About Dormant Bank Accounts #flight #travel

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About Dormant Bank Accounts

Banking experts estimate that up to 5bn may be sitting unclaimed in UK bank accounts that have gone ‘dormant’. What does this mean, and could you be entitled to a share in this huge amount of idle money?

A bank account goes dormant when, in the words of the British Bankers’ Association, a bank and a customer ‘lose touch with each other’. What this usually means in practice is that a customer has either passed away or moved house, and the bank haven’t been told and are unable to locate the account holder some time later.

If there are no transactions on an account over a period of around 12 months, the bank will write to the account holder at the last known address to ask them if they wish to keep the account open. If no reply is received, then the bank will change the status of the account to ‘dormant’. This means that from now on, no statements, chequebooks or other correspondance will be sent out to the customer.

The money in the account will still earn interest at whatever the normal rate of that account is, and the bank will still keep track of the account balance and keep a record of the last known address of the holder.

There are two main reasons for an account being made dormant. The first and most obvious one is to save the banks the administration costs of sending out statements and the like when there is no activity on the account from month to month (other than that initiated by the bank itself, such as interest payments).

The more important reason however is to guard against identity fraud. If a bank continues to send statements to an address when the account holder is no longer there to receive them, it is all too easy for these documents to end up in the hands of fraudsters, who could use the sensitive information they contain to begin a campaign of ID theft.

Most dormant accounts will have very small balances, but some will inevitably contain a substantial sum, often those belonging to someone who has passed away. If you think you may be entitled to money held in a dormant account, you can make a claim by filling in a form available from the bank in question.

You will need to give your reasons for making a claim, such as that the account belonged to a close relative whose estate was passed to you. You will also need to prove your own identity, and your connection to the original account holder if applicable.

If the bank don’t agree that you’re entitled to take over the account, you have the right to pursue an appeal, where your claim is re-examined. If the appeal fails, you can take your claim to the Financial Ombudsman Service, whose decision is final and binding.





07/01/2018

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About Dormant Bank Accounts #hotel #and #flight #deals

#cheap flight and hotel deals
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About Dormant Bank Accounts

Banking experts estimate that up to 5bn may be sitting unclaimed in UK bank accounts that have gone ‘dormant’. What does this mean, and could you be entitled to a share in this huge amount of idle money?

A bank account goes dormant when, in the words of the British Bankers’ Association, a bank and a customer ‘lose touch with each other’. What this usually means in practice is that a customer has either passed away or moved house, and the bank haven’t been told and are unable to locate the account holder some time later.

If there are no transactions on an account over a period of around 12 months, the bank will write to the account holder at the last known address to ask them if they wish to keep the account open. If no reply is received, then the bank will change the status of the account to ‘dormant’. This means that from now on, no statements, chequebooks or other correspondance will be sent out to the customer.

The money in the account will still earn interest at whatever the normal rate of that account is, and the bank will still keep track of the account balance and keep a record of the last known address of the holder.

There are two main reasons for an account being made dormant. The first and most obvious one is to save the banks the administration costs of sending out statements and the like when there is no activity on the account from month to month (other than that initiated by the bank itself, such as interest payments).

The more important reason however is to guard against identity fraud. If a bank continues to send statements to an address when the account holder is no longer there to receive them, it is all too easy for these documents to end up in the hands of fraudsters, who could use the sensitive information they contain to begin a campaign of ID theft.

Most dormant accounts will have very small balances, but some will inevitably contain a substantial sum, often those belonging to someone who has passed away. If you think you may be entitled to money held in a dormant account, you can make a claim by filling in a form available from the bank in question.

You will need to give your reasons for making a claim, such as that the account belonged to a close relative whose estate was passed to you. You will also need to prove your own identity, and your connection to the original account holder if applicable.

If the bank don’t agree that you’re entitled to take over the account, you have the right to pursue an appeal, where your claim is re-examined. If the appeal fails, you can take your claim to the Financial Ombudsman Service, whose decision is final and binding.





07/01/2018

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High Risk Merchant Services #high #risk #merchant #accounts


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High Risk Accounts

High Risk Merchant Accounts

Merchants are often surprised to find out their business is classified as “high risk”. A merchant with perfect credit, an A+ rating with the BBB and virtually no customer complaints can still be considered high risk. At eMerchantBroker.com we specialize in high risk merchant accounts, we can educate you about why your business may be deemed high risk, and how we can help mitigate the effects of operating a high risk business.

The High Risk Specialists

Our team of professionals each have years of experience in the electronic payments industry and have helped thousands of “hard to approve” merchants get a domestic merchant account. Our full suite of electronic payment processing solutions ensures we can help virtually any merchant accept credit cards and checks electronically.

  • Fast approvals in 24 – 48 hours.
  • No set up fees for most merchants.
  • High Risk merchants approved.
  • High volume solutions: load balancing gateways and multiple MIDS.
  • Chargeback protection chargeback prevention programs available.
  • New, IstaCheck Check Processing service, featuring immediate payments

17/10/2017

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Getting the best high interest savings account #high #interest #online #savings


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Best high interest accounts

Ready to compare?

The good news is that since April 2016, the introduction of a new Personal Savings Allowance (PSA) has meant that basic-rate taxpayers can earn £1,000 of savings interest without the taxman taking a slice, and higher rate taxpayers can earn £500. Additional rate taxpayers are not eligible for a PSA.

And the fact you can shelter up to £20,000 from the taxman in cash through an Individual Savings Account (ISA) this tax year is another godsend – as you get to keep every penny of the interest you earn.

Here’s our guide to the best high interest accounts that you can use to grow your savings pot.

Cash ISAs

Cash-ISAs allow you to earn interest tax-free so, it makes sense to max out your ISA allowance before stashing money into a standard savings account.

Since July 1, 2014 you have been able to hold all of your ISA allowance in cash. ISAs have become even more flexible since April 6, 2016. If you hold cash in an either an investment, cash, or Innovative Finance ISA, you can take this cash out of your account and put it back in within the same tax year without this affecting your annual allowance. Not all ISA providers may offer this flexibility, so check with yours before withdrawing any money.

The difference between the best and the worst savings accounts is significant

Current accounts

If you have already used up your ISA allowance, you might think a standard savings account is the next best place for your nest egg.

But these days, the best interest rates can actually be found on some current accounts. Some pay up to 5.00% on smaller balances of a couple of thousand, or 3.00% on balances of up to £20,000.

You usually have to switch your current account completely to benefit from these deals, but the introduction of the Current Account Switch Service in September 2013, means the process is now hassle-free and can be carried out in seven working days.

Easy access accounts

Also known as no-notice accounts, easy access deals give you instant access to your cash whenever you want it. That makes them a great home for emergency cash that you can call on to pay for a broken boiler or car repairs, for example.

The bad news is that interest rates on easy access accounts are generally pretty low – particularly if you don’t shop around for the best deal.

Better-than-average rates are usually reserved for internet-only accounts, while some employ introductory bonuses to boost the advertised rate – but which run out after the first 12 month.

Even if there isn’t a bonus, rates tend to be variable so keep a close eye on what the account is paying and switch deals if it’s no longer any good.

Some accounts that call themselves easy access may also limit the number of withdrawals you can make each year without losing interest – so check this too.

Notice accounts

With notice accounts, you generally have to wait between 30 and 120 days to withdraw your money. This means they won’t be suitable if you need access to your cash in a hurry – as the terms state you will lose interest if an emergency withdrawal is made.

While notice accounts tend to offer higher interest rates than those that provide instant access to your money, this isn’t always the case – so check out easy access rates too before applying.

And as most easy access accounts have variable, rather than fixed, rates, it’s just as important to monitor your returns and switch if the deal is no longer competitive.

Regular savings accounts

Regular savings accounts, which require a set monthly payment – often between £25 and £300 – are a great option for building up savings.

But while rates are higher, the overall benefits are limited as you will only earn interest on the amount in the account as it builds up. You will also be penalised for missing a payment and you won’t have access to your money for the typical12-month term.

Fixed-rate bonds

Fixed-rate bonds are savings accounts that offer a fixed interest rate on your cash for a set period of time, say between one and five years.

The pay-off for giving up access to your money by paying into an account of this kind is that you should receive a higher rate than you will on an easy access or notice account.

And, generally speaking, the longer you’re prepared to lock your cash away for, the higher your return will be.

You will have to pay a penalty should you need to access your money within the term, though.

As most fixed-rate bonds do not allow you to add to your balance, they are also only suitable for people with a lump sum to invest.

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12/10/2017

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Education Savings Accounts #savings #accounts #for #babies


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The Reformer Toolbox allows you to search and compile practical tools and data to help advance and adopt education reform in your state.

To build your Reformer Toolbox, begin by logging in to your account, or by creating a new account. Once logged into your account, you can select a state or specific reform policy using the search function. You’ll find corresponding model legislation, policy briefs, videos, news articles and more in our vast database.

Education Savings Accounts

An innovative choice program that empowers families with the financial freedom to choose the right school or learning environment for their child.

Education Savings Accounts (ESAs), which were first introduced in Arizona five years ago, place state dollars designated for a child’s education in a personal account that parents can manage to cover the cost of customized learning. Account funds can cover multiple education options, including private school tuition, online education, tutoring and dual enrollment. ExcelinEd promotes the expansion of ESAs in states as a supplemental way for parents to care for their child’s unique needs. ESAs create an entirely flexible approach to education, where the ultimate goal is maximizing each child’s natural learning abilities.

About ESAs

1.What is an Education Savings Account (ESA)?

Education savings accounts (ESA) are an innovative way to bring customization to K-12 education. Through an ESA, parents are able to direct their child’s funding to the schools, courses, programs, and services of their choice. Parents are also able to save unused funds for future K-12 and higher education expenses — creating an incentive for parents to judge all K-12 service expenses not only on quality but also on cost. By allowing parents to plan for their child’s unique needs, ESAs create a personal approach to education, where the ultimate goal is maximizing each child’s natural learning abilities.

2.How is an ESA different from a voucher program or a tax-credit scholarship?

Customization
Traditional choice programs (vouchers and tax-credit scholarships) allow parents to choose among participating schools. While this is an important improvement over the way public schools are organized, voucher and tax-credit programs are school choice programs. An ESA is an educational choice program. Through an ESA, parents can direct their child’s funds to a private school – just like a traditional choice program – but they also have the ability to direct the funds to tutoring, online courses, costs associated with college entrance exams, therapies for students with special needs, textbooks, curriculum, college savings, and many other authorized uses. Through an ESA program, parents are no longer relegated to School A or School B – they are able to completely customize their child’s education.

Cost-Conscious Consumer
In a traditional choice program, parents are given a scholarship amount that covers the cost of tuition or an amount set by the state, whichever is less. If a parent is entitled to a $6,000 voucher and they are deciding between a school that charges $6,000 or $5,000, the cost is not likely to play a role in their decision – they benefit nothing from economizing and the school has no incentive to charge less. This has resulted in a “use it or lose it” mindset in K-12 education – a mindset that is more interested in the money going into a school than the results coming out of it. But by giving parents control over their child’s funds, ESAs give parents an incentive to economize. The $1,000 difference in tuition now makes a difference because that’s money that could go towards tutoring, an SAT prep course, or college savings. Schools and services also have a reason to cut costs and look for efficiencies to attract parents with more competitive prices. ESAs embrace basic economics, and will lead to new, better, and cheaper educational options.

3. Where are ESAs being used?

Five states have enacted ESA programs, each with their own rules regarding eligible participants and uses. The first program was created in Arizona in 2011, Florida followed in 2014, and three states created programs in 2015: Mississippi, Tennessee, and Nevada. The Nevada program extends eligibility to all 450,000+ public school students in the state eligible – making it the country’s most expansive K-12 choice program ever enacted.

Real Results

In Arizona, where the ESA program originated, parents shared what they thought of the program.

“These scholarships empower moms and dads of students with disabilities with the flexibility to create education plans custom-made for their children — plans to help these unique boys and girls succeed in school and in everyday life. PLSAs will be life-changing for my family and potentially thousands of others in our state.”

Julie Kleffel, Florida mother of a special needs student using a Personal Learning Scholarship Account (Florida’s ESA program).

Learn More


01/10/2017

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Accounts receivable factoring company #accounts #receivable #factoring #company


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Accounts Receivable Factoring (or Invoice factoring ) involves a transaction between Seller (Client) and Buyer (AeroFund) for the sale and purchase of invoices. Thousands of large, medium-sized, and small nationwide businesses factor their receivables to avoid the wait of 30, 60, or 90 days for payments from their customers. By selling their invoices, instant cash is generated and companies can immediately gain funding.
Within hours, we can process and approve your application. In one to two days, we will convert your invoices into cash and provide you with an on-going financial solution, to be used on an ‘as-needed’ basis.
Find out more about our services

For more than twenty five years AeroFund has been a leader in helping businesses to find the financing they need. We provide accounts receivable financing, invoice factoring and many other types of business funding. Click below to explore the ways we can help your business.

Freight Bill Funding (read more )

When you choose Freight2Cash you get the highest advance in the industry. You’ll also get: credit checks on your customers, processing of your freight bills, collection services, and customized management reports. We assure you attentive personal service whether your account is large or small. (learn more)

SES Financing (read more )

Don’t be fooled by factoring companies that are new to SES Factoring. This is a specialized service. If the factoring company doesn’t understand your industry, they can jeopardize your livelihood. We have great relationships with State SES Coordinators, School Districts, SES Providers and companies providing services to your industry. (learn more)

Government Contracts (read more )

As many people who have worked with government contracts over the past few years are aware, government contacts can have very long and slow repayment periods. This unpredictability can put many companies that work with government contracts into very difficult cash flow situations. (learn more)

Staffing (read more )

Whether your company provides staffing solutions to the IT, Nursing, Industrial, administrative or other business sectors, retaining the best talent is a key to your long term success. Waiting for payment from your staffing clients can create a huge drag on your company cash flow. (learn more)

Accounts Receivable (A/R) Line of Credit (read more )

Our Accounts Receivable Line of Credit (A/R-LOC) financing program is structured as a loan, not as a purchase of receivables, a common practice in traditional factoring. With our easy approval process, we can lend from $5,000 to $3,000,000 against our clients’ accounts receivables. As in bank lending, interest fees are tied to the prime rate as listed in the Wall Street Journal. (learn more)

Purchase Order (P.O.) Financing (read more )

We offer our clients a broad selection of Purchase Order Financing solutions.
AeroFund Financial provides Purchase Order Financing for U.S. based companies with a proven track record in their industry. Our areas of expertise include production finance for work in process and Letters of Credit for trade finance, including import and export transactions as well as domestic trade purchases. (learn more)

Payroll Funding (read more )

For Temporary services and IT consulting services AeroFund provides unparalleled state of the art back room payroll service. When you use our payroll service you get unlimited same day funding on all of your credit approved client companies. Choosing AeroFund’s payroll service you get seamless service from time card entry to payroll funding. (learn more)

Inventory Financing (read more )

AeroFund provides a combination of products unique to the Finance industry. By providing Inventory, Purchase Order and A/R Financing we can offer a one stop shop for your growth and Working Capital needs. Inventory Financing can provide your business with the cash you need for the acquisition and flooring of stock for manufacturing or resale to customers.(learn more)

Apply Now!


29/09/2017

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Compare Credit Cards, Bank Accounts, Savings & More #compareandsave.com, #compare #credit


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Please note that the product links will take you direct to the Issuer or Insurer’s site direct and we cannot be held responsible for the information which they provide within their own sites. On some comparison tables we use a star rating which rates products by visitor popularity.

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Freedom Marketing Ltd is a credit broker, not a lender and is authorised and regulated by the Financial Conduct Authority, firm reference number 493117. This can be checked at http://www.fca.org.uk/register. Registered in England & Wales under registration number 05349340. The company’s registered office is Freedom Marketing Limited, Colchester Centre, Hawkins Road, Colchester, Essex, United Kingdom, CO2 8JX.

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18/09/2017

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How Much Does Factoring Cost? #accounts #receivable #factoring #rates


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How Much Does Factoring Cost?

This article helps you understand how much you can expect to pay for accounts receivable factoring services. It explains the components of the cost and how to calculate your cost per factored dollar. The article assumes that you already know how factoring works. If you are not familiar with factoring, here is more information.

Understanding How Factoring Costs Work

Factoring proposals always include two numbers: the factoring rate and the advance rate. Most business owners assume that the cost of the factoring service is determined only by the factoring rate they get .

This assumption is incorrect and is a potentially costly mistake .

Rate is merely one of the two components of your cost. The second component is the advance rate. You need both rates to determine your actual cost per dollar. The cost per dollar is the true cost of your factoring service.

Let s compare two possible proposals. Which one do you think is better?

  1. A 70% advance at a rate of 3.00% per 30 days, or
  2. An 80% advance at a rate of 3.43% per 30 days

Judging by rate alone, you would say that the 3% rate offered in proposal #1 is a better deal. Proposal #1 has the lower factoring rate. Proposal #2 has a higher factoring rate but also offers a higher advance rate.

Actually, both proposals have the same cost per dollar of funding. If you divide 0.03 by 0.70 and multiply it by 100 (cents), you get the cost per dollar of 4.29 cents. Likewise, 0.0343/0.80 x 100 yields the same result.

So, then, which proposal is better? This conclusion depends on your cash flow needs. If a 70% advance offers you enough working capital, then proposal #1 is the better option. If you need a higher advance because you need more working capital, then proposal #2 is better. From a cost-per-dollar perspective, however, they are the same.

For more information, learn about typical factoring rates and how they are determined.

Factoring Rates by Industry

The following table provides a list of approximate advances and factoring rates for different industries. Note that the lower costs usually apply to accounts that have a higher factored volume. Conversely, the higher costs apply to factoring clients with a lower factoring volume. Keep in mind that these rates vary by factoring company.


08/09/2017

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About Dormant Bank Accounts #tickets #travel

#hotel flight deals
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About Dormant Bank Accounts

Banking experts estimate that up to 5bn may be sitting unclaimed in UK bank accounts that have gone ‘dormant’. What does this mean, and could you be entitled to a share in this huge amount of idle money?

A bank account goes dormant when, in the words of the British Bankers’ Association, a bank and a customer ‘lose touch with each other’. What this usually means in practice is that a customer has either passed away or moved house, and the bank haven’t been told and are unable to locate the account holder some time later.

If there are no transactions on an account over a period of around 12 months, the bank will write to the account holder at the last known address to ask them if they wish to keep the account open. If no reply is received, then the bank will change the status of the account to ‘dormant’. This means that from now on, no statements, chequebooks or other correspondance will be sent out to the customer.

The money in the account will still earn interest at whatever the normal rate of that account is, and the bank will still keep track of the account balance and keep a record of the last known address of the holder.

There are two main reasons for an account being made dormant. The first and most obvious one is to save the banks the administration costs of sending out statements and the like when there is no activity on the account from month to month (other than that initiated by the bank itself, such as interest payments).

The more important reason however is to guard against identity fraud. If a bank continues to send statements to an address when the account holder is no longer there to receive them, it is all too easy for these documents to end up in the hands of fraudsters, who could use the sensitive information they contain to begin a campaign of ID theft.

Most dormant accounts will have very small balances, but some will inevitably contain a substantial sum, often those belonging to someone who has passed away. If you think you may be entitled to money held in a dormant account, you can make a claim by filling in a form available from the bank in question.

You will need to give your reasons for making a claim, such as that the account belonged to a close relative whose estate was passed to you. You will also need to prove your own identity, and your connection to the original account holder if applicable.

If the bank don’t agree that you’re entitled to take over the account, you have the right to pursue an appeal, where your claim is re-examined. If the appeal fails, you can take your claim to the Financial Ombudsman Service, whose decision is final and binding.





07/09/2017

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Factoring of Accounts Receivable #factoring, #accounts #receivable, #journal #entries, #example, #accounting


Factoring of Accounts Receivable

Factoring is the sale of accounts receivable of a company to a financing company at discount. The financing company which buys the receivables is called a factor. Factoring helps a business convert its receivables immediately into cash instead of waiting for due dates of payment by customers.

The parties to the factoring agreement assess the recoverability of the accounts receivable, decide whether or not the factoring agreement will be with recourse and then they agree on a suitable discount factor to calculate the amount of fee to be charged by the factor. After deducting such fee from the value of accounts receivable, the factor pays in cash to originating company. The factor may also withheld an additional amount as a refundable security against bad debts which may arise.

As a result of the above transaction, the factor gains ownership of the accounts receivable and has access to the detailed records of those receivables. The factor collects cash from the debtors as the due dates approach. The procedure to be followed in a situation where a debt becomes irrecoverable depends on whether or not the factoring agreement is with recourse.

Recourse vs Non-recourse Factoring

Under non-recourse factoring, the factor may set off the sum retained as a security, if any, againts any bad debts that may arise but the factor is not entitled to be reimbersed by the originating company if the total of bad debts exceed the amount of security. In other words, the additional loss on bad debts under non-recourse factoring is borne by the factor. Under a factoring agreement with recourse, the company factoring its receivables agrees to pay bad debts in full to the factor. So if the security falls short of the total bad debts, the factor is entitled to be reimbursed for bad debts in full.

Non-recourse factoring is riskier than factoring with recourse for the factor, resulting in higher discount rates over factoring with recourse in general.

Factoring vs Assignment of Receivables

Factoring is different from a financing agreement involving assignment of receivables because the later uses receivables as a collateral security for a loan, but the actual ownership of receivables and the right to collect them is not transferred as long as the loan and any related interest payments are paid in time.

The following example illustrates the journal entries to record factoring with and without recourse:

Journal Entries and Example

On January 1, 20X5 Impatient Inc. factored its accounts receivable of $100,000 at a fee of 8%. Under the terms of the agreement, the company received $82,000 in cash and the rest of the amount was retained by the factor as a security for any bad debts that may arise. Any excess of this security sum over the total bad debts was agreed to be returned by the factor at the end of the accounting period i.e. December 31, 20X5.

On December 31, 20X5 the full amount of security sum was withheld by the factor because the actual bad debts totaled $11,000 exceeding the security sum.

Impatient Inc. had already provided allowance for doubtful debts in the factored accounts receivable and a bad debts expense was recognized in the income statement of year ended December 31, 20X4.

Required: Pass journal entries to record the above transancts for Impatient Inc. both under factoring with recourse and factoring without recourse.

January 1, 20X5: Here, the journal entry will be identical under both factoring with recourse and factoring without recourse.


07/09/2017

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Track Accounts Receivable With Invoice Aging Report Template For Excel #aged


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Articles Forms Guides Templates Track Accounts Receivable With Invoice Aging Report Template For Excel

Track Accounts Receivable With Invoice Aging Report Template For Excel

Keeping track and managing your accounts receivable is important in ensuring a liquid cash flow. One of the main aspects of accounts receivable management is invoice aging reporting. Creating Invoice Aging Reports allow you to determine where your accounts receivable your income are coming from and who or what are your best customers. Invoice Aging Reports also let you know if collection of accounts receivable are going smoothly, or faster or slower than normal. It also shows which customers are good credit risks.

The Invoice Aging Report Template for Excel allows you to list down your accounts receivable and keep track of their due dates. This template also lets you determine which accounts have an outstanding balance and which are overdue or due within a given time frame.

Keep Track of Your Accounts Receivable

This Invoice Aging Report Template basically shows you how old your invoices are, or how long it would take before you receive payment from a particular transaction. If your invoice aging report shows that you are collecting at a slower rate than normal, then that is a warning sign. It would cause your business to slow down as well as indicate that your company is taking much more credit risks than is sustainable for income generation.

Beautifully Designed to Display Huge Amounts of Data

This template is designed to take in huge amounts of data and figures while still maintaining a clean, uncluttered look. The template contains two worksheet tabs, the Aging Report Tab and the Invoices Tab. The Aging Report tab contains your Invoice Table. Here, your invoice aging data are organized into rows and columns in this template. The columns are separated into Invoice Number, Invoice Date, Due Date, Terms (1-30 Days, 31-60 Days, 61-90 Days, and so on), and Total.

Meanwhile, the Invoices Tab contains Invoice Date, Invoice Number, Vendor, Total Due, Due Date, Paid, Days, Period. With this table, you can easily see which accounts have already been paid, which hasn t, and how long it took for the payments to be received by your company.

This template is no longer available, you can download the alternative, Accounts Receivable template via the link given below.

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    Free PowerPoint Templates


    01/09/2017

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  • International Factoring Association – International Factoring Association is a resource to


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    Welcome

    Certification: The Certified Account Executive in Factoring (CAEF) designation is the first professional certification of its kind that recognizes professionalism within the Factoring Industry. Certification.

    Vendor/Attorney Directory: Find a Vendor or Attorney to assist you with your needs. The most comprehensive listing of vendors and attorneys serving the Factoring community. Vendor/Attorney Directory.

    Factor Search: This area is designed to let businesses that are seeking a factoring firm to e-mail specifics
    regarding their business to the factors. Find a Factor.

    Events: Learn about upcoming educational meetings, conference calls and our annual Factoring Conference.
    Find relevant courses and conferences for the Factoring Industry. Read more.

    IFA Magazine: The quarterly IFA Magazine, along with back issues will be posted here. IFA Members
    with an e-mail address will receive the quarterly Magazine. Read more.

    IFA Store: Factoring Software and Books from Factor Help, Dash Point and more. Find Factoring Articles,
    Forms, Books Reports. Purchase & download past IFA Conferences and Teleconferences. Shop now.

    Code of Ethics: This document outlines the goals and objectives that all members of the International
    Factoring Association must adhere to. Read more.

    Membership:

    Membership is open to all banks and finance companies that perform financing or factoring through the purchase of invoices or other types of accounts receivable. All members must adhere to the IFA’s Code of Ethics. To join the IFA, please download the membership application and submit it to the IFA via email at: or fax at: 805-773-0021

    IFA Profile Survey:

    The IFA conducts a biennial Business Profile Performance Survey of its members, which is conducted by an independent market research firm. The survey provides information about members, operations, client details, business development practices, human resources

    Upcoming Events

    Learn about upcoming educational meetings, conference calls and our annual Factoring Conference in the Spring of each year. Also included in this section are relevant courses and conferences for the Factoring Industry.


    29/08/2017

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    Closing a Credit Card Can Hurt Your Credit Score #closing #accounts,


    #

    Closing a Credit Card Can Hurt Your Credit Score

    Dear VNO,

    Closing an account causes your overall utilization rate to increase. As a result, your credit scores may decrease.

    Your utilization rate is also called your balance-to-limit ratio. To calculate it, add up all of your credit card balances and then add up all of your credit limits. Divide the total balances by the total limits.

    When you close an account it causes your total balances to be a higher percentage of your total credit limits, which is a sign of risk.

    Generally, the lower your utilization rate, the better.

    If you are planning to make a major credit purchase in the next three to six months and you don’t have excellent scores, it’s best to leave the account open. However, while your credit scores will likely be impacted for a time, it still might be a good idea to close the account if you are not planning to apply for credit.

    Your credit scores should not be the only factor in your decision. If you are having difficulty managing debt you already owe and are tempted to use the card, consider closing it so that you won’t take on more debt. And, a good way to off-set the impact of closing the account is to pay down the balances on your remaining cards.

    A good way to get an idea of what is contributing to your credit score is to purchase your Vantage score. It is a small investment that will help you understand how lenders would likely view your credit risk. The score will come with a list of factors that explain what from your credit report is currently affecting your credit score.

    The factors are the key to unlocking what you need to do to improve your creditworthiness over time, which will be reflected in better credit scores.

    Thanks for asking.
    The Ask Experian team

    Good credit begins with knowing where your credit is today. Get started with your free Experian Credit Report, updated every 30 days on sign in. No credit card required.

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    24/08/2017

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    Savings Accounts – What are The Different Kinds? #savings #accounts,money #market


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    Savings Accounts

    Most people think of savings accounts as the “one-size-fits-all” accounts offered through their local banks. Actually, when putting away money, you have a lot of options these days. You need to learn about the different kinds of accounts, to determine what is best for your and your family.

    First is the traditional savings account, usually through your local bank or credit union. Banks are FDIC insured, which means the government is insuring you will not lose your savings. Typically, you can open an account with a small amount of money.

    You have easy access to your money if it is through your local bank. The major disadvantage is a low interest rate of return. Every month you will receive a statement through the mail or email, depending on your preference.

    Secondly, there is the twist on the traditional account. This is the online bank account. Online you will often get a much better, competitive interest rate. Be sure the bank you choose is FDIC insured. Some online banks require a higher amount of money to open an account than a traditional bank would.

    Next is the CD or Certificate of Deposit. This is the best option if you have money to put away for a period of time, that you will NOT need immediate access to. Usually this money is deposited for a minimum of six months to a year. If you withdraw early, there is a big penalty fee.

    CD’s often accrue interest at a higher rate of return than a normal savings account. They are available through brick and mortar banks or online, and are insured by the FDIC.

    Fourth is the money market account. This requires a higher minimum deposit to open the account, but the interest rate is higher. You are also usually required to keep a minimum balance (amount of money) in your money market.

    Consumers can access their money market and withdraw by check (typically, you may write a certain limited number of checks a month). Once again, money market accounts should be insured by the FDIC.

    A final savings tool that is often overlooked is the US Savings Bond. This bond is government-issued (therefore, nearly risk-free) and you can usually get them at your local bank. The downside to US Savings Bonds is that they often take a long time to mature.

    Look closely at all your options when considering how and where to save your money. Part of debt-free living is storing some cash away for a rainy day, so be wise about where you put it.


    09/08/2017

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    Cheap Domain Registration and $ Web Hosting #register #cheap #domain #names,


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    Recently, Cheap Domain Registration support was rated 4.9 out of 5. based on 110 customers’ ratings. Give us a call and try us out!

    Cheap Domain Registration Domains
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    Site Builders
    WebSite Tonight has helped thousands of people build and launch their own websites with absolutely no technical skills. Just choose a professional layout from the dozens of themes available (restaurant, how-to, etc), then click and type right into the text boxes provided. Select photos and music with a couple of clicks, add widgets, plus a forum, guestbook and links to any online photo albums. Cheap Domain Registration also sells SmartSpace, an instant site builder, as well as blog/podcast software and internet photo hosting for anyone who’d like to share photos online. For those who don’t wish to build their own websites, the Cheap Domain Registration Dream Design Team is available to create sleek, professional websites.

    Web Hosting
    Cheap Domain Registration has over 100,000 domain names under management. In addition to a range of reasonably-priced shared hosting plans, Cheap Domain Registration offers Dedicated and Virtual Dedicated servers. All plans come with a 99.9% uptime commitment, round-the-clock support and access to dozens of free downloadable applications through Cheap Domain Registration Hosting Connection. All Cheap Domain Registration data centers feature integrated monitoring and fire systems, cutting-edge security technology and 24/7 onsite security staff. You can be sure any website hosted by us is monitored 24-hours-a-day by experts.

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    Use of this Site is subject to express Terms of Use. By using this Site, you signify that you agree to be bound by these Terms of Use.


    08/08/2017

    Posted In: NEWS

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    About Dormant Bank Accounts #parveen #travels

    #cheap flight and hotel deals
    #

    About Dormant Bank Accounts

    Banking experts estimate that up to 5bn may be sitting unclaimed in UK bank accounts that have gone ‘dormant’. What does this mean, and could you be entitled to a share in this huge amount of idle money?

    A bank account goes dormant when, in the words of the British Bankers’ Association, a bank and a customer ‘lose touch with each other’. What this usually means in practice is that a customer has either passed away or moved house, and the bank haven’t been told and are unable to locate the account holder some time later.

    If there are no transactions on an account over a period of around 12 months, the bank will write to the account holder at the last known address to ask them if they wish to keep the account open. If no reply is received, then the bank will change the status of the account to ‘dormant’. This means that from now on, no statements, chequebooks or other correspondance will be sent out to the customer.

    The money in the account will still earn interest at whatever the normal rate of that account is, and the bank will still keep track of the account balance and keep a record of the last known address of the holder.

    There are two main reasons for an account being made dormant. The first and most obvious one is to save the banks the administration costs of sending out statements and the like when there is no activity on the account from month to month (other than that initiated by the bank itself, such as interest payments).

    The more important reason however is to guard against identity fraud. If a bank continues to send statements to an address when the account holder is no longer there to receive them, it is all too easy for these documents to end up in the hands of fraudsters, who could use the sensitive information they contain to begin a campaign of ID theft.

    Most dormant accounts will have very small balances, but some will inevitably contain a substantial sum, often those belonging to someone who has passed away. If you think you may be entitled to money held in a dormant account, you can make a claim by filling in a form available from the bank in question.

    You will need to give your reasons for making a claim, such as that the account belonged to a close relative whose estate was passed to you. You will also need to prove your own identity, and your connection to the original account holder if applicable.

    If the bank don’t agree that you’re entitled to take over the account, you have the right to pursue an appeal, where your claim is re-examined. If the appeal fails, you can take your claim to the Financial Ombudsman Service, whose decision is final and binding.





    31/07/2017

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    High Risk Merchant Solutions #high #risk #merchant #accounts


    #

    Custom Solutions for High Risk

    ASAP Solutions Consulting LLC in partnership with The Steward Group LLC
    December 14, 2014

    Introduction

    Welcome to www.highrisk.solutions

    ASAP Solutions Consulting LLC partnering with The Steward Group LLC (the Company) and its affiliates provides its content on THE COMPANY website (www.highrisk.solutions) (the “Site”) subject to the following terms and conditions (the “Terms”). We may periodically change the Terms, so please check back from time to time. These Terms were last updated on December 14, 2014. By accessing and using this Site, you agree to these Terms.

    1. Copyrights

    All content and functionality on the Site, including text, graphics, logos, icons, images and the selection and arrangement thereof, is the exclusive property of the Company and is protected by United States and international copyright laws.

    2. Trademarks

    The trademarks, service marks, designs, and logos (collectively, the “Trademarks”) displayed on the Site are the registered and unregistered Trademarks of the Company and its licensors. You agree that you will not refer to or attribute any information to the Company in any public medium (e.g. press release, Web sites) for advertising or promotion purposes, or for the purpose of informing or influencing any third party and that you will not use or reproduce any Trademark of, or imply any endorsement by or relationship with the Company.

    3. Use of site content

    The Company hereby grants you a non-exclusive, non-transferable license for the term hereof to access and download, display, and print copies of the content and functionality displayed on the Site (the “Site Content”) on any single computer solely for your internal, business use, provided that you do not modify the Site Content in any way and that you retain all copyright and other proprietary notices displayed on the Site Content. You may not otherwise reproduce, modify, distribute, transmit, post, or disclose the Site Content without our prior written consent.

    4. User postings

    You acknowledge and agree that The Company shall own and have the unrestricted right to use, publish, and otherwise exploit any and all information that you post or otherwise publish on the Site in postings, survey responses, and otherwise, and you hereby waive any claims against The Company for any alleged or actual infringements of any rights of privacy or publicity, moral rights, or rights of attribution in connection with The Company’s use and publication of such submissions. You covenant that you shall not post or otherwise publish on the Site any materials that (a) are threatening, libelous, defamatory, or obscene; (b) would constitute, or that encourage conduct that would constitute, a criminal offense, give rise to civil liability, or otherwise violate law; (c) infringe the intellectual property, privacy, or other rights of any third parties; (d) contain a computer virus or other destructive element; (e) contain advertising; or (f) constitute or contain false or misleading statements. The Company does not and cannot review all information posted to the Site by users and is not responsible for such information. However, the Company reserves the right to refuse to post and the right to remove any information, in whole or in part, for any reason or for no reason.

    5. Disclaimers

    The information contained in this site is for general guidance on matters of interest only. The application and impact of laws can vary widely based on the specific facts involved. Given the changing nature of laws, rules and regulations, and the inherent hazards of electronic communication, there may be delays, omissions or inaccuracies in information contained in this site. Accordingly, the information on this site is provided with the understanding that the authors and publishers are not herein engaged in rendering professional advice and services. As such, it should not be used as a substitute for consultation with professional or other competent advisers.

    While we have made every attempt to ensure that the information contained in this site has been obtained from reliable sources, the Company is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information in this site is provided “as is”, with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information, and without warranty of any kind, express or implied, including, but not limited to warranties of performance, merchantability and fitness for a particular purpose. In no event will The Company, its related partnerships or corporations, or the partners, agents or employees thereof be liable to you or anyone else for any decision made or action taken in reliance on the information in this Site or for any consequential, special or similar damages, even if advised of the possibility of such damages

    6. Your Consent

    By using our Sites, you consent to the collection and use of information by The Company as outlined in this Privacy Policy. If we decide to change our privacy policies and procedures, we will post those changes on this page so that you always have the opportunity to be aware of what information we collect, how we use it, and under what circumstances we may disclose it.

    7. Governing Law

    This is the entire Agreement between you and ASAP Solutions Consulting LLC relating to your use of our Service. The laws of the State of Florida, United States of America shall govern this Agreement as well as ASAP Solutions Consulting LLC’s Privacy Policy, notwithstanding any principles of conflicts of law. You agree that any action at law or in equity arising out of or relating to this Agreement or ASAP Solutions Consulting LLC’s Privacy Policy, or any subsequent agreement between you and ASAP Solutions Consulting LLC that incorporates this Agreement, other than those disputes or claims subject to Arbitration as enumerated below, shall be filed only in state or federal court located in the State of Florida and you hereby irrevocably and unconditionally consent and submit to the exclusive jurisdiction of such action.

    8. Arbitration

    Any claim or controversy arising among or between the parties hereto pertaining to the Service, or any claim or controversy arising out of or with respect to any matter contained in this Agreement, or any differences as to the interpretation or performance of any of the provisions of this Agreement, other than those wherein either party has infringed or threatened to infringe the other party’s intellectual property rights, or wherein you have violated ASAP Solutions Consulting LLC’s User Conduct Restrictions, shall be settled by arbitration in the State of Florida, and such arbitration shall be before three arbitrators of the American Arbitration Association (the “AAA”) under its then prevailing rules. Intellectual property rights, as defined herein, include patent, copyright, trademark or trade secrets. You and ASAP Solutions Consulting LLC jointly acknowledge that arbitration is not an adequate remedy at law for actual or threatened infringement of either party’s intellectual property rights or wherein the claim or controversy arises out of your violation of ASAP Solutions Consulting LLC’s User Conduct Restrictions. If either of the aforementioned potentialities occurs then it is agreed that injunctive relief or other appropriate relief may be sought. In any arbitration involving this Agreement, the arbitrators shall not make any award, which will alter, change, cancel or rescind any provision of this Agreement, and their award shall be consistent with the provisions of this Agreement. Any such arbitration must be commenced no later than one (1) year from the date such claim or controversy arose, or such claim shall be deemed to have been waived. The award of the arbitrators shall be final and binding and judgment may be entered thereon in any court of competent jurisdiction.

    9. Limitations of Liability

    In no event shall ASAP Solutions Consulting LLC or it’s partners be liable for any direct, indirect, incidental, special or consequential damages resulting from your use or inability to use the service; or for the loss of profits or damages that may result from theft, delays, omissions, interruptions, deletion of files, errors, defects, viruses, failure of performance, destruction or unauthorized access to or alteration of your transmissions, including, but not limited to, damages for loss of use, profits, data or other intangibles whether in an action in contract, tort (including but not limited to negligence); or otherwise, even if ASAP Solutions Consulting LLC has been advised of the possibility of such damages. Applicable law may not allow the limitation or exclusion of implied warranties or exclusion or limitation of liability for consequential or incidental damages. In such cases, the above limitation of liability may not apply to you. To that extent, ASAP Solutions Consulting LLC’s or its partners have no liability to you for all losses, damages, and causes of action.

    10. Sever-ability

    If any portion of this Agreement and of ASAP Solutions Consulting LLC’s Privacy Policy is determined by a court of competent jurisdiction to be unlawful, void, or unenforceable, that portion will be deemed severable and will not affect the validity and enforceability of any remaining provisions hereof.

    11. Entire Agreement

    This Agreement contains all of the terms and condition agreed to by you and ASAP Solutions Consulting LLC with respect your use of the Service. It supersedes all prior agreements, arrangements and communications between the parties dealing with same, whether oral or written.


    15/07/2017

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    Where to Score the Best Interest Rates on Your Savings #best


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    Where to Score the Best Interest Rates on Your Savings

    You can earn up to 2% and still sleep tight. Willing to take a risk? You could snag 4%.

    For savers, the days of earning tantalizing rates on a wad of cash seem like a distant dream. If you need a safe place to park your money now, the prospects aren’t pretty. Money funds are paying almost nothing. The most generous rates on bank deposit accounts barely brush 1%. Even the highest-yielding Internet checking accounts, once heralded as the go-to place for great rates on up to $25,000, are paying 2% to 3%—and that’s only if you meet certain requirements, such as using a debit card several times a month. And agreeing to lock up your money for a few months or years doesn’t help much: A five-year certificate of deposit yields, on average, 1.19%. Rates aren’t moving up anytime soon, either. In response to the still-sluggish economy, the Federal Reserve announced last summer that it would keep short-term rates near zero through mid 2013—and maybe longer.

    SEE ALSO: Kiplinger’s Economic Outlook: Interest Rates

    Given the challenging environment, some financial planners are getting creative in the hunt for yield. Brent Perry, president of Piedmont Financial Advisors, in Indianapolis, has told clients with plenty of cash and a penchant for travel to look into accounts that offer frequent-flier miles instead of interest. With $50,000 parked in BankDirect’s Mileage Checking Account, for example, you could earn 60,000 American Airlines miles in a year. With that, he estimates, you could buy two round-trip domestic coach tickets worth about $500 minimum—an immediate return of 1%.

    We’ve listed the top spots for eking out interest on your savings, depending on your tolerance for risk and how long you can tie up your money. You can also search for higher-yielding accounts at www.nerdwallet.com/rates. which shows you options from local banks and credit unions as well as from banks that accept deposits nationally.

    Advertisement

    No risk, low reward

    For your emergency fund—at least three to six months’ worth of living expenses—and any other savings that need to be safe and immediately available, look to accounts insured by the Federal Deposit Insurance Corp. such as interest-bearing checking and savings accounts and money market deposit accounts. Each account is insured up to $250,000. (Credit union deposits are insured up to the same limits by the National Credit Union Share Insurance Fund.)

    With yields on money market deposit accounts as meager as they are—the average savings account pays less than 0.3%—rate shopping is essential. With a $2,500 deposit, you can earn 1.18% in a money market account at Incrediblebank.com. although you’ll trigger a $10 maintenance fee if your balance drops below $2,500. Other banks with good rates include AmTrust Direct ($500 to open an account) and MyBankingDirect ($5,000 to open an account). Both are affiliated with New York Community Bank, and both pay 1.15%, but at AmTrust Direct you need to maintain a $10,000 balance to qualify for that rate. Money market deposit accounts generally provide checks and an ATM card for withdrawing cash or to use for purchases. You can also transfer funds electronically to a linked checking or savings account. You are limited to six transfers per month, not including cash withdrawals at the ATM.

    You can open a savings account at Alliant Credit Union with just $5, and it pays 1.15%. (A $10 contribution to Foster Care to Success, a nonprofit organization that serves foster teens, makes you eligible to join the credit union.) Or you can open an FDIC-insured savings account at CNBBankDirect, the online division of Citizens National Bank in Bluffton, Ohio, with just $1 and earn 1.05%. American Express Bank also offers a savings account with no minimum balance that pays 1%. You can link a savings account to a checking account to transfer funds.

    If you meet the qualifications—which usually include banking online and using a debit card for purchases—a high-yield checking account is another option. The amount eligible to earn the highest rate is usually limited to $25,000 or less, and some of the best rates are available only to residents of the states where the bank does business. But Union State Bank. in Kansas, for one, is open to anyone and its My Rewards checking account pays 2.5% on deposits up to $25,000. You can find insured high-yield accounts offered by community banks and credit unions at Checking Finder .

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    The CD option

    For money you can tie up for a few months or more—say, a portion of your emergency fund that you wouldn’t need for at least three months, or money earmarked for tuition or retirement income—consider certificates of deposit. CDs come with maturities that typically range from three months to five years, with longer maturities offering higher yields.

    You can invest in a long-term CD even if you think you may cash out early or if you want to take advantage of rising rates—just be sure to check the interest penalty. For example, a five-year CD from Ally Bank. which yields 1.89%, charges a penalty of only 60 days’ yield if you withdraw the money early. But a five-year CD from Intervest National Bank, which offers a slightly higher rate of 2.00%, takes back half your interest with its early-withdrawal interest penalty of 30 months.

    Constructing a CD ladder—putting chunks of cash in CDs of varying maturities—allows you to benefit from the best current yields and stay flexible enough to snag top rates down the road. When interest rates rise, you reinvest cash from shorter-term CDs to take advantage of higher yields. Your longer-term CDs will continue to earn interest at today’s highest rates. If you’d like to put more than $250,000 (the maximum that the FDIC will insure in a single account) in CDs, the Certificate of Deposit Account Registry Service (CDARS) offers a convenient way to invest your funds. You deal with one participating bank, which sets the rate and parcels out $250,000 chunks to some of the more than 3,000 participating institutions.

    U.S. savings bonds are another supersafe investment for money you can tie up for a year. EE bonds pay low rates (0.6%) but I-bonds pay an attractive 3.06%. You can cash in savings bonds after 12 months, but if you redeem them before five years have passed, you forfeit the last three months’ worth of interest. The I-bond’s rate is composed of a fixed rate, currently 0%, that lasts for the life of the bond and a semiannual inflation rate that changes every six months. If you bought a $1,000 I-bond and redeemed it after a year, you’d still earn about 3% interest after the penalty. You must purchase savings bonds in an online Treasury Direct account.

    Advertisement

    Higher risk, higher reward

    You can earn 3% or 4% in WorldCurrency CDs from EverBank. The CDs, which have maturities of three to 12 months, invest in currencies of foreign markets—a six-month CD invested in the South African rand, for example, recently yielded 3.68% (there’s a $10,000 minimum purchase). The CDs are FDIC-insured against bank failure, but you take on currency risk—you could lose principal if the U.S. dollar rises—so consider putting cash in a few different currencies to hedge against price fluctuations. The WorldCurrency Basket CD, with a maturity of three or six months, invests in a mix of three or more currencies. Basket CDs require a $20,000 minimum purchase.

    If you’re willing to forgo FDIC insurance completely, explore ultra-short-term bond funds. Some of them suffered heavy losses during the downturn in 2008 and proved to be more risky than expected. And as with other bonds and bond funds, when interest rates go up, prices of short-term debt securities go down. But because of the bonds’ short maturities, substantial losses aren’t in the cards.

    Many of these funds yield less than 2%, and much of your gains will be eaten up if expenses are high. TCW Short Term Bond I (symbol TGSMX ), an ultra-short fund with no sales charge and expenses of just 0.44%, recently yielded 2.2%. TCW also offers an intermediate-term bond fund, TCW Core Fixed Income (TGFNX ), that could be a low-risk cash substitute as long as interest rates remain low (see Bond Funds Instead of Bank Accounts? ). The fund yields 2.6%.


    15/07/2017

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    Debtors and Creditors Control Accounts #control #accounts,debtors #ledger,creditors #ledger,accounting #ledger,subsidiary #ledger


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    Debtors and Creditors
    Control Accounts

    As previously mentioned, we not only have the general ledger, but also two other ledgers:

    – The Debtors Ledger
    – The Creditors Ledger

    We also learned that all individual debtor T-accounts go in the debtors ledger and all individual creditor T-accounts go in the creditors ledger.

    No debtor or creditor T-accounts go in the general ledger, right? Only in the debtor and creditor ledgers, right?

    Well. no, not exactly. The general ledger also contains two special accounts relating to the above, called control accounts .

    There is a control account for debtors and another for creditors:

    The reason they are called control accounts is because one uses them to ensure there are no errors or mistakes in our records relating to debtors and creditors. Thus one gets more control. I will show you exactly how this is done shortly.

    Note that the entries in the control accounts of “total sales”, “total purchases” as well as “bank” come from the relevant accounting journals. For example, the “total sales” figure of $16,300 in the debtors control account above comes from the total in the sales journal below (which shows sales on credit).

    Also, the “bank” figure of $7,400 in the debtors control account would come from the total of the “debtors” column in the cash receipts journal:

    Similarly, the “total purchases” figure of $3,900 in the creditors control account could be traced back to the purchases journal (which shows purchases on credit). And the “bank” figure of $6,000 in this same account could be traced back to the cash payments journal (showing all payments of cash).

    So how do these control accounts ensure that there are no errors or mistakes?

    Let’s take debtors. For debtors, we compare the closing balance of the debtors control account in the general ledger to the total of all the closing balances of all the individual debtor accounts in the debtors ledger. As you can see above, the debtors control account has a closing balance of $10,700. The debtor T-accounts come to the same figure ($8,000 + $1,400 + $1,300 = $10,700).

    If the debtor T-accounts came to a different figure – let’s say $11,000 – we would know for sure that there was some error, either in one of the individual debtor accounts in the debtors ledger or in the debtors control account (general ledger).

    Traditionally bookkeepers or other accounts personnel perform a reconciliation on a regular basis between the control accounts (general ledger) and the total of the debtors or creditors ledger (The word reconciliation comes from reconcile. which means to make two amounts agree in value). Accounts personnel may even produce a debtors or creditors reconciliation statement. which is a report showing the discrepancies between the control account (general ledger) and the totals of the individual T-accounts in the debtors or creditors ledger.

    Return to The Accounting Cycle

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    13/07/2017

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    About Dormant Bank Accounts #travel #directions

    #cheap flights with car rental
    #

    About Dormant Bank Accounts

    Banking experts estimate that up to 5bn may be sitting unclaimed in UK bank accounts that have gone ‘dormant’. What does this mean, and could you be entitled to a share in this huge amount of idle money?

    A bank account goes dormant when, in the words of the British Bankers’ Association, a bank and a customer ‘lose touch with each other’. What this usually means in practice is that a customer has either passed away or moved house, and the bank haven’t been told and are unable to locate the account holder some time later.

    If there are no transactions on an account over a period of around 12 months, the bank will write to the account holder at the last known address to ask them if they wish to keep the account open. If no reply is received, then the bank will change the status of the account to ‘dormant’. This means that from now on, no statements, chequebooks or other correspondance will be sent out to the customer.

    The money in the account will still earn interest at whatever the normal rate of that account is, and the bank will still keep track of the account balance and keep a record of the last known address of the holder.

    There are two main reasons for an account being made dormant. The first and most obvious one is to save the banks the administration costs of sending out statements and the like when there is no activity on the account from month to month (other than that initiated by the bank itself, such as interest payments).

    The more important reason however is to guard against identity fraud. If a bank continues to send statements to an address when the account holder is no longer there to receive them, it is all too easy for these documents to end up in the hands of fraudsters, who could use the sensitive information they contain to begin a campaign of ID theft.

    Most dormant accounts will have very small balances, but some will inevitably contain a substantial sum, often those belonging to someone who has passed away. If you think you may be entitled to money held in a dormant account, you can make a claim by filling in a form available from the bank in question.

    You will need to give your reasons for making a claim, such as that the account belonged to a close relative whose estate was passed to you. You will also need to prove your own identity, and your connection to the original account holder if applicable.

    If the bank don’t agree that you’re entitled to take over the account, you have the right to pursue an appeal, where your claim is re-examined. If the appeal fails, you can take your claim to the Financial Ombudsman Service, whose decision is final and binding.





    11/07/2017

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    Checking Accounts #top #rated #checking #accounts


    #

    Checking Accounts

    WalletHub is an independent comparison service.

    We work hard to present you with accurate checking account information on this page. However, this information does not originate from us and therefore we cannot guarantee its accuracy. You can check the details page of each offer for the date the information was last updated on WalletHub. In addition, keep in mind that actual rates and other information may vary for a number of reasons including the applicants’ creditworthiness and differences between an individual’s situation and the criteria/assumptions used to generate the information displayed. Before submitting an application, always verify all terms and conditions with the offering institution. Please let us know if you notice any differences.

    Ad Disclosure: Offers originating from paying advertisers are noted as Sponsored on the offer’s details page. Advertising may impact how and where offers appear on this site (including, for example, the order in which they appear). At WalletHub we try to list as many checking account offers as possible but we don’t make any representation of listing all available offers.

    Irrespective of whether an offering institution is a paid advertiser, the presence of offer information on WalletHub does not constitute a referral or endorsement of the institution by us or vice versa. Furthermore, non-sponsored offers have not been reviewed or approved by the offering institution. Information is displayed first and foremost to help consumers make better decisions.

    Mastercard Debit Card

    more info

    • At the end of each statement cycle, ATM fees from other banks within the United States are totaled, and such ATM fees will be reimbursed to your account in a lump sum up to a maximum of $10.00 for each statement cycle. These fees will not be reimbursed if your account is closed before your statement is issued.
    • Ally Bank does not allow sending outgoing international wire transfers to beneficiaries located in other countries.
    • Use any of the 43,000+ Allpoint® ATMs in the U.S. for free plus reimburse up to $10 per statement cycle for fees charged at other ATMs nationwide.

    Mastercard Debit Card

    more info

    • Radius Hybrid is a revolutionary account that combines high-interest earning with the freedom of a checking account. This account eliminates the need to transfer money back and forth between two accounts to maximize your earnings.
    • Free ATMs worldwide. ATM fees will be rebated at the end of each statement cycle. Excludes international exchange fees.
    • Unlimited deposits and balance inquiries at Radius Bank ATMs and ATMs displaying the NYCE® Shared Deposit Program logo.

    Visa Debit Card

    more info

    • Unlimited check writing.
    • FREE Standard VISA® Check Card.
    • FREE ATMs at over 100 locations.

    Visa Debit Card

    more info

    • You can enjoy a checking account designed for the customer looking for an economical checking account with no monthly fees or service charges.
    • No bank fees OR surcharge fees at ATMs in the U.S. (automatic reimbursement of ATM surcharge fees not to exceed $20 per month).

    Visa Debit Card

    more info

    • No check images in monthly statement.
    • Online Bill Pay is $5.95 per month, which includes 25 transactions, $.40 each transaction thereafter. First 3 months are FREE.

    Mastercard Debit Card

    more info

    • For the customer who wants unlimited check writing privileges with a low minimum balance requirement.
    • $0.20 per withdrawal beginning with the 21st withdrawal per monthly statement cycle. Withdrawal fee applies only to checks, paper drafts and ACH items (electronic drafts).
    • BillPay is free when 3 or more bills are paid per calendar month; otherwise $5.95 per month.
    • Free ATM access at more than 100 BancFirst ATMs statewide.

    Visa Debit Card

    more info

    • The purpose of the account is to offer our customers the “rewards” of a higher rate on a checking account that is used like any other checking account, with certain expectations and requirements.
    • If account does not meet requirements during monthly cycle a .05% APY will be earned on the entire balance.

    Visa Debit Card

    more info

    • Offers the convenience of a checking account without the hassle of monthly fees! Enjoy unlimited check writing and ATM/VISA® Debit card use with no per-check or per-transaction charges.
    • FREE checks for the life of the account (limited to program checks only).
    • 1st Bank of Sea Isle City began blocking all International Transactions on 1st Bank Consumer VISA® Debit Cards. Must Fill up Travel Request Form.

    Mastercard Debit Card

    more info

    • With the Free Checking account you don’t have to maintain a minimum balance or deal with a monthly maintenance fee. You may write all the checks you desire; there are no per check fees.
    • Images of cancelled checks will not be provided with your monthly statement.
    • You are responsible for any ATM fees and buying your checks.

    Visa Debit Card

    more info

    • Reimbursed ATM Surcharge Fees Charged by Non 1st Capital Bank ATMs.
    • 1st Capital Bank is also a part of the AllPoint network of ATMs, allowing you to get cash from over 55,000 surcharge-free ATMs nationwide in convenient locations that include Target®, CVS Pharmacy®, Costco®, Walgreens®, Safeway® and 7-Eleven®.

    Unfortunately, there are no checking accounts that match your filters.

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    11/07/2017

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    Trade Credit Insurance Business Credit Insurance Accounts Receivable Ins – World


    #

    Trade Credit Insurance

    Protecting your domestic and international accounts receivables.

  • Your bottom line relies on your business transactions. Protecting these transactions from financial loss can make the difference in your company’s success.

  • International Customer Credit

    Political, financial collapse are protected with International Credit Insurance.

  • Insure Domestic Sales

    Financial credit exposure happens both abroad and at home. Keep your financial peace of mind everywhere you do business.

    What is Trade Credit Insurance?

    Trade Credit Insurance is a casualty insurance that protects your company’s Domestic and International Commercial Accounts Receivable from unexpected and catastrophic losses. These losses result from two sets of Risk Perils – Commercial Risk Events (that can cause non-payment of your A/R) and Foreign Political Risk Events (that can cause non-payment of your A/R).

    Is My Company at Risk?

    Accounts Receivable losses are driven primarily by Customer Bankruptcies and Insolvencies, which are inevitable and on the rise both in the United States and around the world. In 2005, 39,201 companies in the United States alone filed for bankruptcy protection, leaving many suppliers as general unsecured creditors in bankruptcy. This rate of business failures is up 14.2% from the 34,317 U.S.

    Customer Credit Insurance

    Of note is the Small Business Export Credit Insurance Policy and Program offered by The Export-Import Bank of the United States (Ex-Im Bank). Since its founding in 1934 as the official Export Credit Agency of our country, Ex-Im Bank has provided insurance and financing assistance to U.S. exporters, especially Small Business. Ex-Im Bank’s Small Business Export Credit Insurance Policy


    08/07/2017

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  • About Dormant Bank Accounts #budget #travel #magazine

    #cheap flights hotel and car
    #

    About Dormant Bank Accounts

    Banking experts estimate that up to 5bn may be sitting unclaimed in UK bank accounts that have gone ‘dormant’. What does this mean, and could you be entitled to a share in this huge amount of idle money?

    A bank account goes dormant when, in the words of the British Bankers’ Association, a bank and a customer ‘lose touch with each other’. What this usually means in practice is that a customer has either passed away or moved house, and the bank haven’t been told and are unable to locate the account holder some time later.

    If there are no transactions on an account over a period of around 12 months, the bank will write to the account holder at the last known address to ask them if they wish to keep the account open. If no reply is received, then the bank will change the status of the account to ‘dormant’. This means that from now on, no statements, chequebooks or other correspondance will be sent out to the customer.

    The money in the account will still earn interest at whatever the normal rate of that account is, and the bank will still keep track of the account balance and keep a record of the last known address of the holder.

    There are two main reasons for an account being made dormant. The first and most obvious one is to save the banks the administration costs of sending out statements and the like when there is no activity on the account from month to month (other than that initiated by the bank itself, such as interest payments).

    The more important reason however is to guard against identity fraud. If a bank continues to send statements to an address when the account holder is no longer there to receive them, it is all too easy for these documents to end up in the hands of fraudsters, who could use the sensitive information they contain to begin a campaign of ID theft.

    Most dormant accounts will have very small balances, but some will inevitably contain a substantial sum, often those belonging to someone who has passed away. If you think you may be entitled to money held in a dormant account, you can make a claim by filling in a form available from the bank in question.

    You will need to give your reasons for making a claim, such as that the account belonged to a close relative whose estate was passed to you. You will also need to prove your own identity, and your connection to the original account holder if applicable.

    If the bank don’t agree that you’re entitled to take over the account, you have the right to pursue an appeal, where your claim is re-examined. If the appeal fails, you can take your claim to the Financial Ombudsman Service, whose decision is final and binding.





    09/04/2017

    Posted In: NEWS

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