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Anonymous
(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...
Anonymous Member
Anonymous
(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...
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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...
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Jason Rollins
Title: VP Finance
Company: Virginia Clothing Company
(VP Finance at Virginia Clothing Company)
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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...
Anonymous Member
Anonymous
(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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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)
Member's Profile
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
Anonymous
(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?...
Anonymous Member
Anonymous
(CFO) The U.S. company I work for deals extensively with international customers. Many contracts require us to post a performance bond against default (~10%) to ensure delivery of a product meeting the customers specifications. In the past, bank standby Letters of Credit had...
Anonymous Member
Anonymous
(Advisor) I've recently joined a company as CFO (having been venturing in other areas for awhile) and have been asked to look into a Positive Pay situation which is apparently a more recent addition to the banking institutions. Is this pretty much standard with all the banks...
Anonymous Member
Anonymous
(business banking) I'd like some advice. I currently work in banking MNC in India, specifically business banking (small and medium enterprises). I would like to go into corporate banking, but I wasn't sure if the CMA USA or CFA would be better. Any guidance?
Anonymous Member
Anonymous
(__) I'll define "larger" as being over $500 million in revenue. So who leads and coordinates goals in working capital?: 1. The controller/accounting area; or 2. Treasury/Finance area managers; or 3. Individual departments like AR and AP responsible with direction...
Ken Stumder
Title: Finance Director / Controller
Company: Ken Stumder, CPA
(Finance Director / Controller at Ken Stumder, CPA) Do any of you use standing ACH Authorizations to help secure your bank accounts? Do you find it problematic or beneficial overall? One of the steps to getting this set up is to provide a list of trading partners and thresholds (if wanted). I am reviewing our historical...
Anonymous Member
Anonymous
(Finance Director / Controller) Working on some cash conversion analyses for our board and management and the methods one can use to calc DSO/DIO/DPO are varied. I have seen DPO calcs done using purchasing while others use Cogs. I have seen DIO calcs done using sales while others use Cogs. Appreciate...
Wayne Spivak
Title: President & CFO
Company: SBAConsulting.com
LinkedIn Profile
(President & CFO at SBAConsulting.com) 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-...
john Olson
Title: Senior Associate, Marketing Programs and..
Company: Radius | Global Growth Experts
(Senior Associate, Marketing Programs and.. at Radius | Global Growth Experts) Why does your bank suddenly want more of your information? One word: FATCA. The Foreign Account Tax Compliance Act, FATCA’s full title, is a system of information exchange instigated by the US Internal Revenue Service. The US Treasury Department website...