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Cheques
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A
cheque or check is a negotiable instrument which is instructing a
financial institution to pay a specific amount of a specific currency
from a specified demand account held in the maker's or depositor's name
with that institution.
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ADVANTAGES |
Reduced risks of
robbery.
They usually boost
sales, because buyers are not limited by amount.
Some buyers like
paying by cheque because they have a record of their payments.
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DISADVANTAGES |
Risk of getting
paid by bad cheque.
Risk of fraud and
identity teft.
Risk of
non-suficient funds in the issuer's account to cover the cheque.
Handling cheques
is time consuming.
Cheque cashing
services are costly.
NOTE: Since cheques include significant
personal information (name, account number, signature and in some
countries driver's license number, the address and sometimes even phone
number of the account holder), they can be used for fraud, specifically
identity theft.
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CHEQUE PAYMENT TIPS |
<>As a business
owner, you'll probably most often pay suppliers by issuing a cheque on
your current account. Make sure your bank statement is up to date and
keep record of all your payments.
When you send your
cheque to your supplier by mail, make sure it reaches its destination
by the due date.
Check the account and make sure you have funds to cover all your
cheques.
>
If your payment
will be late, warn your supplier and send it when promised.
NOTE: Business owners rarely pay suppliers
in cash, but there may be occasions when you pay cash for something If
you pay cash for something, obtain a receipt or you won't be able to
claim that expense.
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RELATED INFO |
Buying
An Established Businesss
Buying A
Franchise
Market
Research
Your
Product Or Service
Your
Customers
Your Competition
Getting A
Financial Picture
Cash
Flow
Business Guide
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RECOMMENDED
LITERATURE |
How Customers Think: Essential Insights
into the Mind of the Market - Building on research from
disciplines as
diverse as neurology, sociology, literary analysis, and cognitive
science, Zaltman offers rich insights into what happens within the
complex system of mind, brain, body, and society as consumers
contemplate their needs and evaluate products. Zaltman illustrates how
leading companies are "mining the unconscious" - with remarkable
results, and introduces innovative tools & techniques that help
marketers:
* Develop research questions that speak to the unconscious brain.
* Evoke valuable meaning through a customer's metaphors and instill
those images in brand communications.
* Measure consumer reactions to marketing stimuli and alter advertising
or positioning strategies accordingly.
* Build "consensus maps" that reflect a market segment's universal
thinking-and reengineer them to boost customer satisfaction, loyalty,
and sales.
* Understand how their own minds work-and how they can think in
creative new ways. The mind of the market is waiting to be explored.
Make sure your competitors don't get there first.
Unlocking the Cash in Your Company: How to
Get Unlimited Funds Without a Loan - Introduces an
alternative means of financing which is often available to those who
cannot obtain a bank loan. Will this form of financing -- factoring --
help your business? Learn how selling your invoices can generate
immediate cash flow… who can qualify… how factoring differs from other
financing… when to factor and when not to… how to find the right
factor… and much more.
Tested Advertising Methods - A
legend in advertising for more than 60 years, John Caples still serves
as a guide to generations of creative marketing people. Now his classic
work on how to create successful advertising has been updated by
respected advertising consultant Fred Hahn. It retains all the clarity,
candid analysis, time-tested experience and invaluable award-winning
ideas from the original, while bringing it right up-to-the-minute on
the many new changes in the field.
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