A bill making major changes to the state’s worker’s compensation system is headed to the governor after the House concurred Tuesday with changes the Senate made to the legislation last week.
The state’s main business groups supported HB 5002, but unions have strongly opposed it.
The House approved the bill 60-47, and Governor Rick Snyder’s signature is expected.
“It always has to go through the final review, but he definitely agreed with the intent of updating and modernizing the act and making sure we were cost competitive,” press secretary Sara Wurfel said.
Republicans say the changes codify existing case law, which sets workers compensation benefits at 80 percent of an injured workers after-tax wages. Their future wage earning capacity would be determined by reasonably available, suitable jobs, but not whether wages from those jobs are actually earned or not.
Democrats call this provision “phantom wages,” but proponents say it gets at the heart of the reason behind the bill – providing an incentive for people who can find work to do so, instead of milking the workers’ compensation system.
“Our workers’ compensation system needs to be clear so workers and employers can take advantage of it without confusion over coverage,” Rep. Bradford Jacobsen (R-Oxford), the bill sponsor, said in a statement. “Michigan workers hurt on the job should not have to go to court to resolve their claims, and the changes in this bill should cut down on that practice.”
Mr. Jacobsen said the changes will not affect those receiving benefits now, nor those with pending claims.
Last week, the Senate approved an exemption for police officers and firefighters from the bill, and then rejected attempts by Democrats to extend the exemption to corrections officers, teachers, veterans, hospital workers and skilled trade workers.
Rep. Jim Townsend (D-Royal Oak) offered a similar amendment, but it was also rejected along with a number of other Democratic amendments.
“If the concept of virtual wages is so flawed … why retain this concept for anyone else?” he said.
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The Internal Revenue Service (IRS) has issued additional guidance modifying previous requirements under the Affordable Care Act (ACA) for informational reporting, asking employers to provide employees with their cost of employer sponsored health care on W-2 forms.
This modified requirement applies to federal, state, and local governmental agencies, but it does not apply to federally recognized Indian tribal governments. Until further direction is provided, the W-2 reporting requirement will not apply to tribally chartered corporations owned by federally recognized Indian tribal governments.
Employers are not required to include the cost of health coverage under an employee assistance program, wellness program, or on-site medical clinic if the employer does not charge a premium for COBRA coverage for a qualifying beneficiary.
An employer can still voluntarily choose to include the coverage cost on W-2 forms for an employee assistance program, wellness program, on-site medical clinic, or the cost of coverage under a health reimbursement arrangement.
If an employer reported on certain excepted benefits on a pre-tax basis under a cafeteria plan, which may include disease- or illness-specific coverage and indemnity insurance coverage, then the employer must include this in the W-2 reporting.
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WASHINGTON, D.C. – In fiscal year 2011, the Office of Advocacy saved small businesses $11.7 billion in first year regulatory costs and $10.7 billion in annually recurring costs by helping federal agencies comply with the Regulatory Flexibility Act (RFA). Advocacy’s Report on the Regulatory Flexibility Act, FY 2011, released today, documents federal agency compliance with the RFA and Executive Order 13272. These provisions require agencies to review the effects of their proposed regulations on small entities and to examine alternatives that would minimize the small entity impacts while still meeting the regulations’ purposes.
“As a former entrepreneur, I can attest that small firms are in a better position to grow, innovate, and create jobs when regulations are less burdensome,” said Chief Counsel for Advocacy Winslow Sargeant. “Federal agencies that work with Advocacy to use the RFA effectively write rules that are better for small entities and the economy while still meeting the statutory goals the regulations were designed to carry out.”
In FY 2011, the Office of Advocacy reviewed hundreds of regulations to assess RFA compliance. To solicit the views and comments of small-entity stakeholders, the office convened roundtables on a broad range of issues, from hours of service for truck drivers, to work-related musculo-skeletal injuries, to chemical risk assessments. Other highlights of Advocacy’s efforts include:
Submitting more than 50 public comment letters to federal agencies on regulatory proposals
Participating or planning to participate in 13 Environmental Protection Agency small business advocacy review panels
Provide training in RFA compliance to regulatory staff at federal agencies including the new Consumer Financial Protection Bureau.
The Office of Advocacy bases its cost savings primarily on agency estimates. Cost savings for a given rule as a result of Advocacy’s intervention are captured in the fiscal year in which the agency takes final action on the rule. The full annual report is on the Advocacy website: http://www.sba.gov/advocacy.
The Office of Advocacy of the U.S. Small Business Administration (SBA) is an independent voice for small business within the federal government. The presidentially appointed and Senate confirmed Chief Counsel for Advocacy advances the views, concerns, and interests of small business before Congress, the White House, federal agencies, federal courts, and state policymakers. Regional advocates and an office in Washington, D.C., support the Chief Counsel’s efforts. For more information, visit http://www.sba.gov/advocacy, or call (202) 205-6533.
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What Are “Essential Health Benefits?”
Under Section 1302(b) of the Affordable Care Act, “essential health benefits” include minimum benefits in ten general categories and the items and services within those categories:
Ambulatory patient services
Emergency services
Hospitalization
Maternity and newborn care
Mental health and substance use disorder services, including behavioral health treatment
Prescription drugs
Rehabilitative and habilitative services and devices
Laboratory services
Preventive and wellness services and chronic disease management
Pediatric services, including oral and vision care.
Who is required to offer essential health benefits?
Beginning in 2014, health plans offered in the small group and individual market will be required to cover essential health benefits. The scope of coverage for these items must be equal to that provided under a “typical employer plan.”
In a bulletin released in December, the Department of Health and Human Services (HHS) indicated that each state will establish its own essential health benefit package by selecting a benchmark plan that reflects the “typical employer plan” in the state. A state can choose as its benchmark one of the following based on enrollment: the largest HMO offered in the state, one of the three largest small group health plans in the state, one of the three largest state employee health plans, or one of the three largest federal employee health plan options. The default election will be the largest small group market plan in the state.
In a series of frequently asked questions released in February 2012 by HHS, it indicated that it intended to identify each state’s default benchmark in the fall of 2012.
Are large group market health plans, grandfathered plans or self-insured group health plans required to provide essential health benefits?
Large group market health plans, grandfathered plans and self-insured group health plans are not required to cover essential health benefits. However, these plans are subject to the Affordable Care Act’s prohibition against imposing annual and lifetime dollar limits on benefits that fall within the definition of essential health benefits. These rules were effective for plan years beginning on or after September 23, 2010 (i.e., January 1, 2011 for calendar-year plans),
These plans are permitted to impose non-dollar limits, consistent with other guidance, on essential health benefits as long as they comply with other applicable statutory provisions. In addition, these plans can continue to impose annual and lifetime dollar limits on benefits that do not fall within the definition of essential health benefits.
How are large group market health plans, grandfathered health plans or self-insured group health plans to determine which benefits offered are essential health benefits?
In the series of frequently asked questions, HHS indicated that it will consider a self-insured group health plan, a large group market health plan, or a grandfathered group health plan to have used a permissible definition of essential health benefits if the definition is one that is authorized by the Secretary of HHS (including any available benchmark option, supplemented as needed to ensure coverage of all ten statutory categories).
In addition, HHS indicated that the Departments of Labor, Treasury and HHS intend to use their enforcement discretion and work with those plans that make a good faith effort to apply an authorized definition of essential health benefits to ensure there are no annual or lifetime dollar limits on essential health benefits.
Blue Cross Blue Shield of Michigan made several announcements this week related to restructuring the Managing Agent distribution system. At the MBPA, we have reached out to all the Managing Agencies affected by these changes and are working diligently to assist them with the transition ahead. We have received many calls from the agent community with questions about these changes. The MBPA will continue to offer all of our services to the Agent community including our SPDs, Section 125s, Cobra Administration and many other services and programs. And yes, you can continue to write all of your Blue business with the MBPA for all products under 100 lives. We will continue to work with Grotenhuis and Action Benefits as we have in the past and our relationship with you has not been impacted by the recent announcement.
Change is now the new normal as it relates to PPACA and reform. As an agent, it’s important to become involved in understanding PPACA and the impact that it can have on your client base. I would like to remind you that the MBPA has been a strong player at the legislative table regarding PPACA, the formation of an exchange in Michigan and the impact of this legislation on the future. We have been relentlessly advocating for the interests of small business, our members and the inclusion of agents in the formation of a Michigan exchange. These efforts have been mirrored by other business organizations that we have been working side by side with in Lansing to represent the best interests for all of us. While we have made significant advances, there is still much work to be done.
To assist you, we have many tools and resources for you including a webinar this month on the requirements needed in 2012 for compliance for you and your clients. We would encourage you to invite your clients to attend. We have also created templates on presentations that you can make to your clients to help them better understand what is ahead. Please continue to look to the MBPA for these resources and services as the future ahead of us changes.
On a personal note, it has been a pleasure working with so many wonderful people in the Managing Agent community and we wish them only the very best as they explore new opportunities. Rest assured, they have our support and access to the vast MBPA network of resources to assist in this delicate transition. For you as an agent, you can expect the same level of service and access to programs as you have before. Please feel comfortable reaching out to us for any of your needs.
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Important Health Reform Changes for 2012, 2013 and 2014
Join us for a Free Webinar on February 21
Please join the Michigan Business & Professional Association and BASIC for a Webinar on February 21 at 9:30 AM (Eastern Time). This webinar will review all of the important Health Care Reform changes coming in 2012, 2013 and 2014.
The webinar will be presented by Larry Grudzien, Attorney at Law.
As an Association member, we want to prepare you for the scheduled health care reform changes in the next few years so you and your business can prepare for the road ahead. The MBPA has been involved in both the Federal and State activity related to national health care reform, ensuring this new law has the least negative impact on our members.
BASIC is an integrated HR, FMLA and Payroll solutions provider established in 1989 and provides services to over 9,000 employers nationally. Employers with up to 30,000 employees trust BASIC with a wide range of HR responsibilities as a way to control cost, manage risk, and improve staff focus and effectiveness.
Title:
Important Health Reform Changes for 2012, 2013 and 2014
Date:
Tuesday, February 21, 2012
Time:
9:30 AM – 10:30 AM EST
After registering, you will receive a confirmation email containing information about joining the webinar.
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Join us on February 15th @ 9am for a Free Webinar on the Colonial Life MBPA/MFBA Advantage
Colonial Life and the MBPA have a way for you to help your clients and their employees understand and appreciate the value of their employee benefits.
Changing health care regulations and rising costs are creating employee benefit and knowledge gaps. To help your clients and their employees with these issues, we’ve partnered with Colonial Life to provide voluntary benefits such as accident, cancer, supplemental health and critical illness insurance programs which are designed to help employees pay for what their health insurance doesn’t and adds financial protection for their future. Employees choose the
benefits that best meet their individual and family needs.
At no direct cost, Colonial Life voluntary benefit options can help your clients save time, fill gaps and add value to their employee benefits program.
Colonial Life will provide:
One-on-one benefits counseling and education on all benefit options.
Consolidated enrollment for core and voluntary benefits with its award-winning Harmony enrollment system.
Extensive product portfolio with options and premiums to fit almost any need.
Hassle-free benefits administration through secure, web-based services.
Special underwriting consideration for MBPA/MFBA members.
Or, you can call in to join the meeting:
Dial: 1-636-277-0130
Access Code: 248-192-281
Audio PIN: Shown after joining the meeting
Meeting ID: 248-192-281
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Have you ever made a mistake? (Certainly every husband since Adam has.) Are you a “professional,” or, even if you are not considered to be a member of one of the typical professions, do you advertise yourself as a “Pro?” These issues address the risk and insurance areas of Professional Liability.
Most businesses retain Commercial General Liability (in the past also known as Public Liability), which covers risks arising out of the maintenance or use of their premises, operations, and products, focusing on Third Party property damage and/or bodily injury. A visitor’s slip and fall at a place of business is a common General Liability claim.
General Liability policies typically exclude ANY liability arising out of the rendering of professional services, including mistakes such as errors and omissions. The Personal Liability provision of a Homeowners Insurance Policy, even when endorsed to cover incidental professional occupancy, will not cover “malpractice.” Did you forget to or mistakenly advise a patient of a medical procedure, or a client of a tax provision, or a homeowner of a safety railing on a porch, or a restaurant of an exhaust vent, or a building owner of a boiler, or a business of the use of software or programming code? Did any of these allegedly result in a physical, mental, and/or financial injury to the client or customer?
A special form of liability insurance, or endorsement, covers these “professional-error-omission” risks and claim situations, imaginatively termed Professional Liability. Different forms are usually issued to the various professions, sometimes known as Errors and Omissions policies or endorsements, but their intent is similar. Both cover exposures to claims arising out of the rendering, or failure to render, a professional service, including the popular tort of “malpractice.” When considering the risk of a professional service, think of the old Armenian saying, “You are damned if you do and damned if you don’t.”
Professional Liability policies generally follow a similar format as their General Liability policy brethren. But the insuring clause and declaration page are adapted to cover the particular professional insured. For example, the policy’s Coverage Declaration cites a specific Business Description as “Group Insurance Consultant” with the Insuring Agreement stipulating:
“To pay on behalf of the Insured all sums which the Insured shall become legally obligated to pay as compensatory money damages as a result of claims made and reported during the policy period by reason of any act, error or omission in professional services rendered or which should have been rendered by the Insured or by any person for whose acts, errors or omissions .. and arising out of the conduct of the Insured’s profession.”
In contrast to General Liability policy forms, Professional Liability/E&O policies are usually issued on a “claims made” basis. For a claim to be covered, the alleged error or omission must be covered by the policy, must have occurred on or after the retroactive date of coverage, and before the policy’s expiration date. In other words coverage must be in force at both the time of the claim occurrence and when it is reported. Reporting can follow years after the alleged claim happened. To ensure protection, you must continue your coverage long after your service is complete, even after retirement.
Obvious professions include doctors, lawyers, accountants, and architects and many of their mistakes, and legal awards, entail highly publicized media exposes. But most businesses provide some form of “professional service,” and the following are examples of less publicized situations but highly detrimental to various small businesses:
*Massage & Spa Business: Rose Spa and Salon was scheduled to host Mary’s bridal shower party for a two hour massage and day spa session for all nine bridesmaids. Due to a booking error the morning of the appointment, Mary received a call from Rose Spa saying they needed to reschedule for the following week. Mary was furious as she had paid for four of her guests to fly in from out of state to attend the event. She was unable to find another venue at such short notice and sued the spa for $1,600 to recoup the airline fees for the booking mistake.
*Dental Hygienist: Steven is a dental hygienist working for Dr. Muller. While assisting Dr. Muller on a routine cleaning, he accidently cuts a patient’s gum with his dental instrument. He stopped the bleeding and notified Dr. Muller of the cut, but no further action was taken. Four months later, Steven received notice of a lawsuit demanding $5,000 for an infection that caused the patient to lose his tooth. Because Steven was an independent contractor not covered under Dr. Muller’s dental malpractice insurance, he soon found himself in severe debt trying to pay for lawyer fees and unpaid leave from work.
*Marriage Counselor: Neil and Kimberly sought the assistance of Paul Lawson, a relationship/divorce therapist, in order to save their marriage. With two successful businesses they co-own and run, they financially had a lot at stake. Utilizing a combination of individual and joint sessions with the counselor, they proceeded with weekly sessions for a year. After a few months, Neil began to suspect that Mr. Lawson was manipulating Kimberly’s individual sessions to expedite the divorce process rather than to resolve their differences. He was furious when Kimberly served him with divorce papers, including a demand for sole ownership of the two businesses. Neil blamed Mr. Lawson for swaying Kimberly’s decision and filed a lawsuit against him.
In many cases these plaintiff actions are defensible and the business or individual can prove they were not negligent. This requires legal defense, an important coverage component of a professional liability policy. The marriage counselor cited above might be innocent of the allegation, but, without a professional liability policy, he will have to pay the legal defense costs out of his own pocket at $200 to $500 per hour, or more, depending on the law firm, jurisdiction, and potential financial severity and impact of the situation.
Mistakes, and alleged mistakes, like “stuff,” happen. Because they do it is prudent to consider and review the benefits of professional liability coverage for the health and welfare of your business.
*Claims examples cited above courtesy of United States Liability Ins Group, publication AH CE 4/10.
Mark Tarpinian has been an insurance agent in the Detroit area for 29 years, and is President of TFI Insurance & Benefits, a trenchantly independent insurance agency in beautiful downtown Northville. He can be contacted at mark.t@tfiins.com
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With just 4% of people willing to do business with you the very first time they hear about you, keeping in touch with your prospects is more important than ever. The other 96% will do business with you only when trust has been established.
Yet, business owners continue to work hard at talking to prospects, networking, and implementing business-awareness marketing strategies, but lack solid systems to cultivate trust and stay in touch with those people whom they meet. Incredibly, keep-in-touch systems are often forgotten about or neglected by many small business owners. With only 20% of leads actually followed up on, that’s a heaping pile of lost opportunity.
Just as important to having a system to keep in touch is how you use your system to cultivate your relationships. One wrong move and you could be creating more work and fall short of a return on your relationship investment systems.
There are three main elements you should know so that your keep-in-touch systems work for you:
Opt-In Only
Be Consistent, and
Develop Stakeholder-Specific Keep-in-Touch Systems
Opt-In Only
One of the major mistakes entrepreneurs make is create an e-newsletter and call it their keep-in-touch system. They will attend networking events and erroneously place everyone they meet on their list. They think they are growing their list. Yet, when nobody buys what they are selling, they wonder why it’s not working for them. It’s not only important to have a system, but how you use that system.
There are four things fundamentally wrong with adding someone you just met to your system without their permission.
Not everyone you meet wants to receive information from you. They may not tell you that directly but they will forward your newsletter to their junk email in which case your email doesn’t get read. You’re also putting the ownership on a person you just met to opt out – not a way to start a relationship.
Not everyone is your ideal client.
If you add them and they didn’t asked to be added, you did not get their permission. You run the risk of being reported as a spammer. Further, each time they receive an email from you, it will be a source of annoyance because their email is already filled to capacity. Rather than eager with anticipation to read something they opted in to receive, your email will trigger a negative emotion. It becomes a quantity versus quality list. Quantity does not work if nobody on your list would ever do business with you. It’s the people who opt in to receive your value-added content you want to keep in touch with.
When they are opting in, they are making the choice to join your community. With a permission-based system, you are reversing the sales process by pulling in those prospects who opt in rather than pushing hard by adding them to your list.
Be Consistent
Consistency over time creates trust. There’s nothing worse than establishing an expectation and not following through on it. It does nothing for your credibility or for cultivating a strong relationship with a prospect, customer, or referral source.
Whether you send a card to a predetermined number of prospects each week or an email to your entire list community, make sure to establish regular contact. My mortgage representative has developed a nice stay in touch system. Several times a year, I receive a newsletter in my mailbox that has home decorating tips and other interesting market information about home ownership. Each year, she also invites us to the local cider mill to enjoy cider, donuts and conversation. I always look forward to receiving the newsletter and the invitation to the cider mill. Your system doesn’t have to be expensive or online but it does have to provide value and remain consistent for you to be top of mind.
Develop Stakeholder-Specific Keep-In-Touch Systems
One size does not fit all. Some of your prospect-related communications may not be appropriate to include with a referral source you just met. A referral source is someone who has the same target market as you do and who may send you referrals. Your approach and system would be different for a prospect and a referral source. When you send a letter to your referral source, cultivate the relationship by asking them how you can help them. With a little ingenuity, you may come up with a way to make them look good for their clients or simply make an introduction to someone they have been trying to connect with for some time. Having stakeholder-specific systems helps you to tailor your message and keeps your database current. In sending out a regular letter to my referral sources, I discovered several referral sources changed or expanded their target market. They returned a response in the self-addressed, stamped envelope I included with my letter. My referral sources thanked me for asking them about any updates to their contact information and their target market. It also keeps my database up to date so when I send referrals their way, they are spot on.
Keeping in touch should be more than a year-end holiday card. With value-added systems, you can close your communication gaps, establish trust, and, most importantly, be top of mind with both your prospects, clients and your referral sources.
Lisa Mininni is a best-selling author and President of Excellerate Associates. She is also the creator of the sought-after Entrepreneurial Edge System showing small business owners how to automatically bring in pre-qualified prospects and turn them into invested clients. For a free ebook on taking a systems approach to profitability, visit www.freebusinessplanformat.com or get her 5-Part Video Series www.getmoreclientsnowvideos.com
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How confident are you in understanding your cash flow? Are you comfortable with the term? Many business owners are not. This is surprising, given that all businesses essentially run on cash, and cash flow is the lifeblood of one’s business.
Some business experts even say that a healthy cash flow is more important than your business’s ability to deliver its goods and services! Although hard to believe, consider this: if you fail to satisfy a customer and lose that customer’s business, you can always work harder to please the next customer. If you fail to have enough cash to pay your suppliers, creditors, or employees, you’re out of business!
It seems much of the accounting industry and their small business clients are only interested in completing tax returns and filling out forms. Smart businesses don’t settle for number crunchers. They seek a firm that will provide regular bookkeeping and financial statements, preferably every month. Ask for more than a Balance Sheet and Income Statement. Cash Flow Statements are vital to your business.
Many believe delivering these tasks are prohibitively expensive or will make their lives more difficult. In fact, many firms are able to deliver these services very affordably and the goal should be to save the client time and confusion by arming them with tools and information to, more effectively, run their business.
What Is Cash Flow?
In simple terms, cash flow is the movement of money in and out of your business. These movements are called inflow and outflow. Inflows for your business primarily come from the sale of goods or services to your customers. The inflow only occurs when you make a cash sale or collect on receivables, however. Remember, it is the cash that counts! Other examples of cash inflows are borrowed funds, income derived from sales of assets, and investment income from interest.
Outflows for your business are generally the result of paying expenses. Examples of cash outflows include paying employee wages, purchasing inventory or raw materials, purchasing fixed assets, operating costs, paying back loans, and paying taxes.
Cash Flow Versus Profit
Profit and cash flow are two entirely different concepts, each with entirely different results. The concept of profit is somewhat broad and only looks at income and expenses over a certain period, say a fiscal quarter or one month. Profit is what is used for calculating and reporting the business’s taxes.
Cash flow, on the other hand, is a more dynamic tool focusing on the day-to-day operations of a business. It is concerned with the movement of money in and out of a business. More importantly, it is concerned with the times at which the movement of the money takes place.
Theoretically, even profitable companies can go bankrupt. It would take a lot of negligence and total disregard for cash flow, but it is possible. Consider how the difference between profit and cash flow relate to your business.
Remember, a sale is booked when the sale is made – not when the cash from the sale is actually received. Days, weeks, even months may transpire before the cash catches up with the sale. In the meantime bills are being paid. As a result, these events may cause other missed profit opportunities or force a business to seek funding, thus creating debt. Should this happen often enough or occur in large numbers, bankruptcy could follow.
Analyzing Your Cash Flow
The sooner you learn how to manage your cash flow, the better your chances for survival. Furthermore, you will be able to protect your company’s short-term reputation as well as position it for long-term success.
The first step toward taking control of your company’s cash flow is to analyze the components that affect the timing of your cash inflows and outflows. A thorough analysis of these components will reveal problem areas that lead to cash flow gaps in your business. Accurate financial statements, including a cash flow statement, is imperative in analyzing these crucial components. Narrowing these cash flow gaps are the key to cash flow management.
Some of the more important components to examine are:
Accounts receivable. Accounts receivable represent sales that have not yet been collected in the form of cash. An accounts receivable is created when you sell something to a customer in return for his or her promise to pay at a later date. The longer it takes for your customers to pay on their accounts, the more negative the effect on your cash flow.
Inventory. Inventory describes the extra merchandise or supplies your business keeps on hand to meet the demands of customers. An excessive amount of inventory hurts your cash flow by using up money that could be used for other cash outflows. Too many business owners buy inventory based on hopes and dreams instead of what they can realistically sell. Keep your inventory as low as possible.
Accounts payable and cash flow. Accounts payable are amounts you owe to your suppliers that are payable some time in the near future – “near” meaning 30 to 90 days. Without payables and trade credit, you’d have to pay for all goods and services at the time you purchase them. For optimum cash flow management, examine your payables schedule.
Credit terms. Credit terms are the time limits you set for your customers’ promise to pay for their purchases. Your creditors also set credit terms for your payables. Credit terms affect the timing of your cash inflows and outflows. A simple way to improve cash flow is to get customers to pay their bills more quickly and use the terms of vendors and suppliers to the extent possible.
Credit policy. A credit policy is the blueprint you use when deciding to extend credit to a customer. The correct credit policy – neither too strict nor too generous for your industry – is crucial for a healthy cash flow.
Of course it makes sense to take advantage of opportunities like quantity or other discounts. Some businesses require additional expenditures to expand their business. As a result, some cash flow gaps are created intentionally. Unavoidable cash flow gaps include seasonal businesses which may require stop gaps like lines of credit or loans.
Monitoring and managing your cash flow is important for the vitality of your business. The first signs of financial woe appear in your cash flow statement, giving you time to recognize a forthcoming problem and plan a strategy to deal with it. Furthermore, with periodic cash flow analysis, you can head off those unpleasant financial glitches by recognizing which aspects of your business have the potential to cause cash flow gaps.
2012 appears to be much improved over previous years. Now is the time to take advantage of growing markets. Be sure to be properly prepared!
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