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Anonymous Member
(Consultant) I work for a general contractor who receives large payments from clients each month, but then pays much of that out to subcontractors. So, for a few days to a week or so, we have a low-seven-figure balance in checking that of course substantially exceeds FDIC protection....
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Copper Jode
Title: Finance Manager
Company: Anonymous
(Finance Manager at Anonymous) Ok so I've worked in accounting departments for ten years in 3 different companies. Typically, there is a control process in place where AP has to enter a transaction with proper backup, like an invoice, before the expense or asset is posted and a check goes out the door....
Annette Nellen
Title: Professor
Company: San Jose State University
(Professor at San Jose State University)   A growing number of individuals and businesses own bitcoin or use it for transactions (perhaps with a third party actually handling the bitcoin to cash exchange).  So, more people, including tax practitioners, need to know the federal guidance at Notice 2014-...
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Pragna Patel
Title: Mgr, Compliance & Controls
Company: Masonite International
(Mgr, Compliance & Controls at Masonite International) Does anybody have a policy on currency management to mitigate fx fluctuations?
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Jason Rollins
Title: VP Finance
Company: Virginia Clothing Company
(VP Finance at Virginia Clothing Company)
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Hewitt Hsiao
Title: Product Manager
Company: Y&S Ventures
(Product Manager at Y&S Ventures) I work in an online gambling company. In this industry, paying money to your customers in time is the most important thing, so our company needs to reserved lots of cash to run daily business transaction. But now we want to precisely forecast daily cash flow in our account...
Anonymous Member
(Business Operations Analyst) I'm trying to reduce the time I have to spend tracking down executives for approval on expenses that I am not aware of. I don't believe there should be a threshold for these costs. If we were to provide a PO requisition form and once the requisition form submitted to AP...
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Richie Wohlers
Title: Controller
Company: Vision Mechanical Services
(Controller at Vision Mechanical Services) I have a contractor who is demanding I provide copies of dozens of canceled checks from 3+ years ago. The bank is going to charge me $7.50 per check. The contractor is trying to play some game, and is just annoying me. Can I require them to pay the bank fees? Can I just...
Anonymous Member
(CFO) Our vendors are really getting stingy with the terms they're offering us for paying them early. Typically we get a 2% discount if we pay X days prior to the date payment is due. We have recently had several vendors either decrease or completely eliminate these discounts...
Alexander Haigh
Title: Treasury Consultant
Company: Validus Risk Management Ltd.
(Treasury Consultant at Validus Risk Management Ltd.)   The traditional view of financial risk management, especially in non-financial businesses, is that it is a necessary but non-core activity, playing a supporting role to the ‘stars’ of corporate strategy such as manufacturing, logistics and marketing....
Anonymous Member
(Financial Analyst) Dumb question I’m sorry but I’m new to my job and trying to learn everything I can. Why might a bank put their money into a different financial institution? I’m assuming for a better interest rate?
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Theodore Pepin
Title: OTD
Company: USG
(OTD at USG) Okay, I am going to try to describe my problem as best I can. So I have money coming in from different organizations, and each check that they cut carries a 'code' of sorts that restricts what I am allowed to spend the money on, although some money is so coded that I can...
Wayne Spivak
Title: President & CFO
LinkedIn Profile
(President & CFO at According to a WSJ article: "By some measures, PayPal Holdings Inc. holds more customer money than all but 20 U.S. banks. What does that say about the future of banking? At the end of March, customers of PayPal held more than $13 billion in accounts at the online-...
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Felipe Agustoni
Title: None
Company: None
(None at None) After consolidating the balance sheet of a multinational operations company, the different exchange rates applied for translating to the presentation currency (Current rate method) in the different parts of the balance sheet, generates an imbalance in the fundamental...
Anonymous Member
(Buyer III) Currently my company uses Vantiv. However, the problem we are having is Vantiv is part of a 5/3 bank and can only establish one card per SSN. So if someone is released multiple times, they have to issue a paper check because the cards cannot be reloaded. Therefore, we are...
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mandi r
Title: owner
Company: Keep it Clean
(owner at Keep it Clean) I have a commercial cleaning company and I've noticed that my number of delinquent accounts is getting larger and I don't have the time to follow-up on them. When I have tried calling, they keep stringing me along and promising to pay. I want to retain my client but also...
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Oliver Booker
Title: CEO
Company: Advantage Behavioral Health Systems
(CEO at Advantage Behavioral Health Systems) My company is a NFP, 420-FTE, $29M, 10-county, publicly funded community behavioral health provider system. We provide many programs to ensure a complete continuum of care for the mentally ill and those in addiction. We have been very willing to create new programs for...
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Scout Young
Title: CFO
Company: Private
(CFO at Private)
Anonymous Member
(CFO) I have a client who is selling child-proof packaging to the medicinal marijuana industry. They have had a couple of banking relationships, both of which started out fine, but later the relationship was terminated by the banks at the direction of upper management. My...
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Anon Anon
Title: Trsry
Company: Anon
(Trsry at Anon) What are the rules regarding intercompany loans between U.S. entities (U.S. parent to U.S. sub)? I want to set up physical cash pooling in the U.S. between U.S. entities and am thinking about... - Do I technically nees to track loans between U.S. entities? If so, why?...