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Casual Articles - Time and Billing - Three Methods, Three Results
I’m a customizing freak, I can look at something brand new and instead of fully appreciating its “stock” value I start to fantasize about how I can give it my personal touch. Cars, motorcycles, roller skates, home d?cor, cooking and techno gadgets, shoes, and clothes; they all have seen my dollar (some of them more than others). In the coming months I’ve pledged to s
The Bottom Line on Time and Billing
Every method of time and billing has its pros and cons. What has proven to work best in the computer consulting industry is to use merchant account
"Outsourcing and globalization of manufacturing allows companies to reduce costs, benefits consumers with lower cost goods and services, causes economic expansion that reduces unemployment, and increases productivity and job creation." ~~ Larry Elder -- "The Larry Elder Show"How Software Outsourcing Can Make MoneySoftware outsourcing, eve
Time and billing entails payment tracking and invoicing. If you do it right you will get paid well and get paid fast. If you do it wrong, well, you might not get paid at all. Each of the following common time and billing methods have pros and cons as follows:
Time and Billing Through Automatic Credit
With this method of time and billing you grant everyone a certain amount of credit. You're at relatively low risk, what's the most you’ll lose, $250? You attract clients with this method. However, if you don't say what the terms are, most people are going to assume it is net 30. If you are not firm and assertive with this time and billing practice those 30 days quickly turn into 60 days and more. If you extend credit to everybody, odds are you will lose sooner or later. That is not a good thing at all. Despite its marketability this is not a recommended method.
Time and Billing With Minimum Deposits
The second time and billing practice is to require a deposit before starting a project. Typically the deposit ranges from 25% - 50%. If you are really aggressive it’s 100%. Collecting the deposit is often the easy part though. With this time and billing method how do you know when the project is complete? For this time and billing method to work you need to make sure the end point is very clearly defined. You also need to have the luxury of time between engagement and work. What if the deposit check bounces after you’ve started, and perhaps finished, the work?
Time and Billing Using a Merchant Account
This is a preferred time and billing method. The first project is done on a credit card authorization before you even start. A signed proposal or quote is faxed back to you with credit card information. You pay a small fee, 2 ? to 3% to the credit card vendor, but at least you don't have to beg for payment. You don't have to take the risk of not getting paid. You don't have to go through the hassle of checking credit references and taking credit applications for a one-shot deal. The credit card charge can be disputed but this does not typically happen if the work is completed satisfactorily.
The Bottom Line on Time and Billing
Every method of time and billing has its pros and cons. What has proven to work best in the computer consulting industry is to use merchant accounts
What I'm about to reveal are myths that most people think are 'true.'They seem set in stone yet they are deadly to the advertiser.I'm certain you'll be surprised. Certainly you may even doubt what I reveal to you. But I've discovered that these myths must *NEVER* be followed - unless of course you like throwing your hard earned money down the drain
With this method of time and billing you grant everyone a certain amount of credit. You're at relatively low risk, what's the most you’ll lose, $250? You attract clients with this method. However, if you don't say what the terms are, most people are going to assume it is net 30. If you are not firm and assertive with this time and billing practice those 30 days quickly turn into 60 days and more. If you extend credit to everybody, odds are you will lose sooner or later. That is not a good thing at all. Despite its marketability this is not a recommended method.
Time and Billing With Minimum Deposits
The second time and billing practice is to require a deposit before starting a project. Typically the deposit ranges from 25% - 50%. If you are really aggressive it’s 100%. Collecting the deposit is often the easy part though. With this time and billing method how do you know when the project is complete? For this time and billing method to work you need to make sure the end point is very clearly defined. You also need to have the luxury of time between engagement and work. What if the deposit check bounces after you’ve started, and perhaps finished, the work?
Time and Billing Using a Merchant Account
This is a preferred time and billing method. The first project is done on a credit card authorization before you even start. A signed proposal or quote is faxed back to you with credit card information. You pay a small fee, 2 ? to 3% to the credit card vendor, but at least you don't have to beg for payment. You don't have to take the risk of not getting paid. You don't have to go through the hassle of checking credit references and taking credit applications for a one-shot deal. The credit card charge can be disputed but this does not typically happen if the work is completed satisfactorily.
The Bottom Line on Time and Billing
Every method of time and billing has its pros and cons. What has proven to work best in the computer consulting industry is to use merchant account
The truck washing industry must go robotic to deal with the labor shortages in the industry and the OSHA rules considering hydrofluoric acid and other chemicals. Additionally with water tight in many regions, measured and calculated water usage is important as well. Robotic truck wash systems can handle these issues. Unfortunately they are not quite there yet. Why yo
Time and Billing With Minimum Deposits
The second time and billing practice is to require a deposit before starting a project. Typically the deposit ranges from 25% - 50%. If you are really aggressive it’s 100%. Collecting the deposit is often the easy part though. With this time and billing method how do you know when the project is complete? For this time and billing method to work you need to make sure the end point is very clearly defined. You also need to have the luxury of time between engagement and work. What if the deposit check bounces after you’ve started, and perhaps finished, the work?
Time and Billing Using a Merchant Account
This is a preferred time and billing method. The first project is done on a credit card authorization before you even start. A signed proposal or quote is faxed back to you with credit card information. You pay a small fee, 2 ? to 3% to the credit card vendor, but at least you don't have to beg for payment. You don't have to take the risk of not getting paid. You don't have to go through the hassle of checking credit references and taking credit applications for a one-shot deal. The credit card charge can be disputed but this does not typically happen if the work is completed satisfactorily.
The Bottom Line on Time and Billing
Every method of time and billing has its pros and cons. What has proven to work best in the computer consulting industry is to use merchant account
The process of delivering the product to the customer is termed as distribution. Distribution management consists of two major tasks: physical distribution and management of distribution channels. Physical distribution can be defined as the process of reaching the product to the consumers. It encompasses all the activities involved in the physical flow of products fr
Time and Billing Using a Merchant Account
This is a preferred time and billing method. The first project is done on a credit card authorization before you even start. A signed proposal or quote is faxed back to you with credit card information. You pay a small fee, 2 ? to 3% to the credit card vendor, but at least you don't have to beg for payment. You don't have to take the risk of not getting paid. You don't have to go through the hassle of checking credit references and taking credit applications for a one-shot deal. The credit card charge can be disputed but this does not typically happen if the work is completed satisfactorily.
The Bottom Line on Time and Billing
Every method of time and billing has its pros and cons. What has proven to work best in the computer consulting industry is to use merchant account
Word-of-mouth marketing is the perfect technique for small business owners and service providers everywhere. It's inexpensive, it's scalable, and it's uniquely powerful. However, while generating great referrals doesn't take loads of money, it does take some creativity, and a desire to push the envelope. Want to start getting more referrals right away? Here are s
The Bottom Line on Time and Billing
Every method of time and billing has its pros and cons. What has proven to work best in the computer consulting industry is to use merchant accounts. This does not mean that time and billing using credit or deposits is wrong, it simply means that the least risky method is the use of credit cards.
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