Business Sense

Get Accounts Receivable Payment in 24 Hours

Wednesday, February 20, 2013

If you received payment for your customers’ invoices the very next day, do you think that might change the way you do business?

Speeding up your cash flow cycle could help you meet your payroll, remit payables on time, or let you take advantage of potential supplier discounts for early payment. You might even be able to bid on larger projects without the fear of an additional cash flow burden. How would you like to be able to track receivables with detailed reports, improve your liquid working capital, increase inventory, or perhaps offer your customers extended terms?

For over 20 years community banks, using BusinessManager, have been providing growing small businesses with the ability to get cash deposited directly into their bank accounts by selling their accounts receivable to the bank at a discount. All types of companies are participating in the program, including manufacturing companies, who often have to wait 60 days or more to get paid. Think about the competitive advantage you could have freed from the restrictions of a tight cash flow.


If that position feels good to you, click here to Read More > 



NOTICE OF EXPIRATION OF THE TEMPORARY FULL FDIC INSURANCE COVERAGE FOR NONINTEREST-BEARING TRANSACTION ACCOUNTS 

EFFECTIVE JANUARY 1, 2013

By operation of federal law, beginning January 1, 2013, funds deposited in a noninterest-bearing transaction account (including an Interest on Lawyer Trust Account) no longer will receive unlimited deposit insurance coverage by the Federal Deposit Insurance Corporation (FDIC). Beginning January 1, 2013, all of a depositor’s accounts at an insured depository institution, including all noninterest-bearing transaction accounts, will be insured by the FDIC up to the standard maximum deposit insurance amount ($250,000), for each deposit insurance ownership category.

For more information about FDIC insurance coverage of noninterest bearing transaction accounts, visit www.fdic.gov.


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