Collection of Your Accounts Receivable

March 3, 2010  |  Joan M. Quade

By Joan M. Quade Spring 2009 In Brief Newsletter In these tough economic times, companies find that payments on their accounts receivable are delayed and diminished.  More and more of their customers cannot pay on time.  Some cannot pay the invoices in their entirety and have resorted to smaller, drawn out payments for services and goods, while others have not been able to pay at all. Money is less plentiful but if your customers do not pay, it affects your ability to meet your company’s obligations.  In years past, most companies could afford some nonpaying and slow paying customers, but when many of your customers are having financial difficulties, your company must take action  to ensure your own company’s survival.  You have supplied the goods and services and you should be paid for those efforts. Ignoring your mounting accounts receivable could lead to your own company’s damage or demise. Every company should adopt a procedure for collection of accounts receivable.  Such a procedure should be in place during thriving economic times as well as during the tough economic times so that corporate value is not being lost through inconsistent and ineffective collection procedures. To work effectively, a collection procedure should be in writing and adopted by the company’s management team.  Training should be…

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Collateral Effects of Arrests – What You Need to Know

February 25, 2010  |  Jon P. Erickson

By Jon P. Erickson and Shawn D. Stuckey Summer 2007 BGS In Brief Newsletter When a person is convicted of a crime, they are subject to the direct and collateral effects of a conviction.  But what happens when a person is arrested for an offense and the case is either not charged, or the person is found not guilty?  Most people think that the arrest record is either thrown out or sealed.  Many are unaware that anyone can have access to that information for years to come.  Some of whom could use this information to make determinations of capability for employment and housing.  Others who posses the capacity, and many times do, to make the person’s arrest known to the world.  Unless actions are taken now by the person who is the subject of the arrest record, a person who was arrested many years ago may still be denied employment, housing, or have his name published for all to see. Collateral effects are invisible, civil punishments attached to any crime and arise immediately following an arrest.  In the past, the public could not easily access criminal history records.  Today, technology has greatly increased the public’s accessibility to criminal records.  Employers, landlords, newspapers, data harvesters, and any member of the public, have access to…

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Your Car is Sinking: Now What?

February 11, 2010  |  John T. Buchman

The tragedy of the 35W bridge and the floods in southeast Minnesota remind us all of unexpected dangers we face. Many of us have wondered, at one time or another, what would we do if our car ended up under water. While it is relatively rare, experts indicate that 300 people die each year in this country when their cars end up under water. I have checked a number of sources and, while experts differ, the most consistent advice was as follows: 1. Don’t panic. I know this is easy to say when someone is sitting behind a desk coming up with advice and much harder when you are the one in the car that is sinking. However, it is absolutely essential to have a plan in mind and keep your head clear. 2. Roll down your windows as soon as you can. While many people are afraid to allow more water in, and open window is the easiest way to get out of a car. Most power windows will work until the car has been in the water for several seconds. 3. Do not try to open the doors right away. The surrounding water pressure is greater than the pressure inside the vehicle and you will only waste energy and air and…

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