re: Collecting accounts receivable

Slow paying is tricky balancing keeping the customer and forcing on time payment. Late fees work if that is stated up front or in writing. Ad agencies would often go 120 days.

I had one producer who I did an opening for a cartoon show they were trying to sell. They loved it until their idea didn't sell and then said it was any good.

There was a law firm that did collections. They didn't mess around with threatening letters and harassing phone calls, they just sent a subpoena. A check arrived shortly after that.

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I said I was on the management team that put together the strjctjre of how the change would work

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You’re making no sense

So you didn’t make the decision and you weren’t responsible for telling anyone, but you were “ on the management team that put together the strjctjre of how the change would work.” Whatever that means. So you swapped when the payroll was processed?

Real thought provoking shite Darth

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No one but you would interpret what I’ve said the way you have

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It’s hard to interpret it any way because it makes no sense

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would that make you think I’m claiming I was on the assembly line with an impact wrench assembling said mining shovel?

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You specifically, yes, you’d try to make yourself sound important to the process despite being a middle manager in Birmingham that does nothing of real consequence

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I work for a mid-sized manufacturing firm in the Accounting & Finance Dept.
I can tell you with certainty that the only suppliers who will put you on credit hold quickly or suspend services gets paid on time, and everybody else gets paid 3-4 weeks late.
Logistics and freight forwarders get paid first, and on-time. They can bring manufacturing and supply chain to a dead stop. Do you know who gets paid last? Consultants, Law Firms, Audit & External Accounting firms.
The most important question is who needs who more? If the vendor needs the paying company's business more than the company needs that specific vendor's product or service, then the vendor is going to wait.

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do you operate in this way because you dont have the cash flow or is it because you are holding the money and collecting the interest? I was thinking about this the other day with oil companies wh obviously spend alot of money. if they can push off paying millions and millions of dollars they can maybe collect a decent amount of interest.

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customers have been slower than usual paying open invoices

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Yes. Almost everyone is slow-paying right now. It's a constant battle to collect. Two metrics I watch are my average AR aging and my AR:AP ratio. Both are trending in the wrong direction, and have been for a while.

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You’re a local village idiot for Tiger Droppings (Verified)

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You sell filters for CAT...you made that clear.....you work behind an counter or a desk

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I have nothing to do with filters. And I split work between my office in Bham and my home office, unless I’m traveling.

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You dont have an expense account or take customers out to lunch

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You're lucky if you even have a company truck

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I had a company truck when I was a field rep. Now I have a vehicle allowance and fuel card.

Wrong again. I do have an expense account. However, I rarely have to take customers to lunch any longer, though I did when I was a field rep. Most of my lunch are with others from the company, Cat, or other Cat dealers.

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I know exactly what you do and what you dont do, you might make around $140k a year

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The fact you think I “sell filters” proves you in fact have no idea what I do or what my compensation is or isn’t.

I know it’s important for your fragile ego to think that I make less a year than you, but your estimations of my yearly composition are very much under what I make annually.

Data: I’m neither a parts manager nor do I have anything to do with rentals other than my team of inspectors measure the undercarriages in the Rental Division’s fleet.