Guildways’ Post

Is your business constantly dealing with late paying customers? This could be for a number of reasons, including: ↪ Your customers don't take your payment terms seriously ↪ You don't have effective credit control systems ↪ Your missing information from your invoices We understand how frustrating it can be, not knowing why your customers keep paying late. Our team of experts have taken there 30 years of debt collection experience and complied their top 10 tips for improving your credit control and cash flow procedures. Click the link below to download your FREE copy. https://lnkd.in/g62AU4a #debtcollection #creditcontrol #cashflowproblems #businessdebt #overpayment #effectivecreditcontrol #debtcollectionagency

We find that our free guides have been really valuable to SMEs. On our website you can gain access to debt collection tips for industry experts, letter templates and guidance for reducing future late payments. Click the link below to download our guides today! https://lnkd.in/eTrBhHhy #debtcollection #debtcollectionhelp #creditcontrol #overpayment

We've taken our 30 years of debt collection experience and given you our 10 top tips for effective debt collection. If your business is tired of chasing unpaid invoices, download our free guide today. https://lnkd.in/g62AU4a #debtcollection #creditcontrol #nowinnofee #latepayments #unpaidinvoice #overdueinvoice

When you're chasing debt from an Individual, the first step to follow is the Pre-Action Protocol for debt claims.* To ensure you are fully compliant with the protocol, you are required to include the following in your letter: ➡ Up-to-date financial information including details of any interest and administrative charges added to the debt amount ➡ Details of the agreement under which the debt is payable ➡ Confirmation that further information or a copy of any written agreement can be made available if your customer asks for it ➡ The method and how payment can be made, and details on how to contact you if your customer wants to discuss payment options ➡ A copy of the Reply Form, Information Sheet and Financial Statement Form ➡ An address to which your customer can return the Reply Form If you're claiming payment of debts from individuals or sole traders click the link below to download our free Pre-Action Protocol letter template and you will also receive templates for the Reply Form, Information Sheet, and Financial Statement Form. https://lnkd.in/demwwaPN *If you wish or need to issue court proceedings later down the line, it is important that you have followed this protocol correctly. #debtcollection #preaction #unpaidinvoice #latepayments #creditcontroller

Do you have customers that constantly pay late? It can be super frustrating and damaging for your businesses cash flow. As we see a rise in business insolvencies, it's becoming more important than ever to protect your businesses cash flow. One fantastic way of doing this is by ensuring your credit control team have a solid system in place to follow up invoices as soon as they become overdue. As well as clear processes to minimise the risk of future late payments. In our free guide, we have complied a list of top tips for debt collection, from over team of experts who have more than 25 years or industry experience. Download your guide by clicking the link below. https://lnkd.in/g62AU4a #debtcollection #creditcontrol #latepayment #debtcollectionagency #nowinnofee

This time of year, you can expect to see more late paying customers than normal. Here are our 5 top tips, from experts with more than 25 years of debt collection experience, on how to minimise the risk of late payments: ➡️ Check that your customer has received the invoice - A common reason for late payment is a customer claiming that they have not received your invoice. By remaining diligent and following up on sent invoices in plenty of time, you leave the option open to resend the correspondence BEFORE the Christmas and New Year’s break. ➡️ Offer incentives to customers who pay in advance - Christmas is the perfect time of year to show appreciation for customers who pay on time! You could include an option on end of year invoices for prompt payers to receive a small discount. ➡️ Chase up overdue invoices immediately - Obviously it goes without saying that as soon as invoices fall due you should chase them up. You are entitled to this payment. Customers will often have a lot to wrap-up as they approach year end, and a small nudge can be enough to remind them of what their priorities should be. ➡️ Target customers with a history of late payments - Do not be afraid to be robust, especially with customers who are consistently making late payments. Companies will often have a handful of customers who are responsible for the majority of late payments, so targeting these people early is a good exercise in helping to protect cashflow. ➡️ Instruct a third party debt collection agency - With a team of in-house experts on-the ground networks, Guildways debt collection experience is second to none. To give us the best chance of collecting the debt, we research the history of the debt, and any contractual issues that may be compromising payment. Learn more today - https://guildways.com/ #DebtCollection #DebtCollectionAgency #LatePayments #CashFlowManagement #CreditController

According to Division 7A, payments, loans, and debts forgiven by private companies to their shareholders or their associates as dividends are automatically treated as assessable income for tax purposes.    The Australian Tax Office has made it clear that if a company lends money to its directors or shareholders, the transactions must be put down in writing and approved by the company and borrower.   If you want to formalise such business arrangements, what you need is a well-drafted agreement. RP Emery’s Division 7A Company Loan Agreement Template is exactly what you need to ensure your drafting process is hassle-free.   To download the template, check out the following link: https://lnkd.in/ghibr69e   #RPEmery #Agreements #Contracts #Templates #TemplateKit #Division7ALoan #Division7ALoanAgreement #Division7ALoanAgreementTemplate

This is the most common mistake I see new business owners make… Drawing large amounts of money from their company for something like a house deposit WITHOUT following the correct processes for commercialising the loan. That’s when they get called out by the ATO and face heavy tax consequences! In my latest Deep Dive, I go through everything directors need to know about Division 7A loans to AVOID getting double taxed Full video on YouTube: https://lnkd.in/giGvF3Xu #businessowner #accounting #taxtips #division7a

These are additional costs which will typically make up about two to five percent of the purchase price. Examples of closings costs include loan processing costs, title insurance, and excise tax. Have more questions about closing costs? I have answers. Let's talk. 📞 💬 #theramosgroup #ramosteam #theramosmortgageteam #theramosteam #yourlocalmortgageguy #carbonteamccm #thecarbonteam #househunting #homeowner #finances #investment #icanhelp #loanofficer #themoreyouknow #realestate #downpaymentassistance

Ethical practices help to improve debt collection rates. At Guildways, we pride ourselves on providing an ethical debt collection service for our clients. All whilst maintaining an exception service level. When engaging with your debtors, it’s important for us to approach them with empathy and professionalism. By showing respect for their perspective, you can build trust and increase the likelihood of reaching a mutually beneficial solution. There are cases where we need to understand the debtors situation in order to come to a suitable resolution for our client. This involves looking beyond the numbers and recognising that there may be valid reasons for non-payment. Debtors could be facing financial difficulties, unexpected circumstances, or simply struggling to manage their cash flow. While it’s crucial to recover debts owed, it’s equally important to do so in an ethical manner that respects debtors situations. Learn more about our no win no fee debt collection services here - https://guildways.com/ #debtcollection #nowinnofee #latepayment #overdueinvoice #ethicalpractices