The Make It Or Break It Factor

Are Credit Card Late Fees Hurting Your Business?

It's not just that the average credit card late fee is $34 and that it hits you square in the checkbook...

It's the hidden cost to your business. The way your credit card issuer can raise your interest rate because of a late payment on an unrelated bill.

It's the way it affects your credit score and your ability to borrow money from your bank when you need a loan to grow your business.

And if you inadvertently bounce a check when paying your credit card, that's a $25 bank bounced check fee, a $34 credit card late fee and a $39 credit card bounced check fee. Not to mention you're paying finance charges on all of those fees too.

The bottom line is that these over charges do hurt your business. So stop the drain on your finances today.

Call Markiewicz Accounting and Bookkeeping Services at 1-978-373-1770. Focus on what you do best and leave the books to us!

The buzz about cash flow.
So what's the big deal about cash flow? It's simply the amount you have left in your checking account after you pay your bills, right? Well, yes - and no, no, no!

Here's the problem:
The amount of money in your checking account comes from what your clients and customers have already paid you. The bills that you just paid are yesterday's bills, not the ones that you'll be receiving later on today and not the bills that you'll be receiving tomorrow or next month.

The $64,000 Questions
So, the first question you need to ask before you go out and spend the money in your checking account is this:

  • Will I have enough money to pay tomorrow's bills?

And the second question is:

  • When will I get more money?

Why the lack of cash flow kills small businesses.
It's the counting your chickens before they hatch approach to money. You've got a great idea or a great product or a great service. Customers are going to flock to your door! You can just see all that money pouring in. Ahh, sugar plums are dancing in your dreams. And now reality strikes. Your business is taking off slowly. Customers are cautious. Or maybe your largest customer got hit in an economic crunch and he's not paying you on time anymore. Uh oh, maybe buying that expensive furniture wasn't such a good idea after all...

Bottom-line, you've overestimated your income and underestimated the impact of your expenses.

How An Experienced Accounting And Bookkeeping Services Firm Can Help

We'll reconcile your books and process your bank statements. We'll enter your customer invoices and vendor invoices. We'll receive your customer payments and pay your vendor bills. We'll tackle all of those credit card charges and reconcile the detailed activity. And we'll produce reports that will help you manage your cash flow and help you plan your business's financial needs.

Simply put, we'll get your cash to flow.

Call Markiewicz Accounting and Bookkeeping Services today at 1-978-373-1770 and leave your books to us!