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Showing posts with the label customer payments

Things Every Business Should Know About Payments—A Series

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1) Benefits From Accepting Credit Cards Make More Money: Consumers spend twice as much when using a credit card rather than cash.  When using cash, a customer only has a limited amount that they can spend.  With a credit card, money seems endless (even though it’s not), and buyers are more likely to “splurge” since the payment doesn’t seem immediate. Increased Revenue! : It’s rare that someone carries around more than $20 cash now-a-days, and pennies, nickels, and dimes are almost extinct.  When the total comes out to be $21.44, and the buyer only has a $20 bill, it is more likely that they will just resort to using their credit/debit card rather than scavenging through their purse to find spare change to pay the difference. Keep Track Of Who’s Buying: When a customer uses a credit card, they end up leaving you with some way to identify them—usually a name—which can be beneficial to your business.  Keeping customer information on file can be a w...

Writing Off Short Payments or Bad Debt

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“Quicklet” - A Podcast for QuickBooks Pro, Premier, Enterprise Solutions & Point of Sale users featuring helpful information, tips, tricks and suggestions for bookkeepers, business owners, and consultants. Got a QuickBooks Mess? Ask The QuickBooks Gal! Hi, I'm Jayne Miller, The QuickBooks Gal. Welcome to another in our series of “Quicklets” – informational podcasts about QuickBooks and related bookkeeping topics. The other day a client called to ask me how she could write off some small short payments on customer accounts. Additionally, she had a couple of account that she wanted to write off to bad debt at the end of 2007. That is really simple if you use the Credits & Discounts button inside the window where you apply payments on accounts. Here's how to do this: 1 - Open up the Receive Payments window and bring up the customer account you wish to affect. Then, date the transaction for the end of the accounting period you wish to affect. Note: I do this so I can ...