So I had a check bounce on a smaller invoice that has been due for some time...
I picked up the phone and called the client and explained that the check bounced and now I need to be paid in cash, he said he would just write me another check.
This just jogged my memory of an old party chief I worked with when I was fresh out of college who always said "if that check bounces I'll write you another". Same chief drove his truck thru a historic barn leaving the company Christmas party and was terminated shorty thereafter. He lived fast and loose but was a master at his craft, he's also the reason I only accept Cash after the check bounces!
Will send Paden right over to cover that bounced check. ???? ???? ?????ÿ
"One of your checks bounced, and injured one of the ladies in our office. You will be hearing from our attorney."
N
Only had one bounced check when I worked for myself.?ÿ Against my better judgement, I accepted a second check, and it cleared.?ÿ And the check for the balance cleared too.?ÿ
So, while I understand your position, and don't blame you for not wanting to get burned twice, sometimes people just make a mistake.
The only bounced check I remember was written by a sweet little old lady.?ÿ She fit the category for those who believe that if they have checks, they have money.?ÿ It turned out her children were in charge of her financial matters and did not realize she still had some blank checks in her house.
Out of all the things I love about surveying, chasing the money is absolutely the worst part.?ÿ When I ran my own business after the market crashed in 2008, I spent as much time chasing money as I did managing my people and staff.
When I moved on from my own company to my current position, I started taking on work from a friend who owned both a heavy construction company and the local liquor store where I used to buy my beer.?ÿ The projects I got from him were just handed to me, no proposals, all T & M work on rather large roadway and utility projects.
One weekend, when I had a large invoice that was 3 weeks out, I cornered him at his liquor store and called him out on it.?ÿ He was shamed and told me to stop back at the store the next afternoon and there would be a check waiting for me.?ÿ Sure enough, there was, it was for half the amount due AND dated for the start of the following month.?ÿ When I called him on it, to quote his reply, he says to me, "what do you think I am, a bank?".?ÿ Keeping my composure, I explained to him that he seemed to think I was by financing him to keep moving while I was waiting to get paid for work done a month and a half ago before I turned and walked out the door.
The following day, ring..ring, his Super on the phone, telling me he need my guys on a site the following day, 75 miles from the office and that this, that and the other thing needs to be staked.?ÿ I told him flat out that I am not even going to consider his request unless I have a check in hand that can be deposited immediately by noon.?ÿ Needless to say, I had the check in hand that day, finished the ongoing work that I had with them and refused to take on future work.?ÿ I gave this guy an inch and he tried to take a mile!
Yes.?ÿ Being a nice guy does not concern the client.?ÿ Seeing his name in the local paper in the court cases listing tends to have a powerful effect.?ÿ One of the advantages of living in the boonies.?ÿ Not much news to report, so things you would never expect to see in a larger circulation paper do appear in the small circulation or weekly newspapers.?ÿ I know of one that reports the filings of deeds each week, listing buyer and seller names and the property description and the book and page where recorded.
I had my first bounced check a few months ago. It was for the 30% deposit that I require before starting. I had half of the survey done before it bounced. The guy ended up paying cash for the deposit and then promptly sent a check when the job was done. It cleared without issue.?ÿ
I was going to require 100% payment in cash before doing anymore work but but I figured accidents happen.
Gregg
A friend operates an auction about four or five times per year where those attending and consigning come from multiple locations all over the US and occasionally Mexico or Canada.?ÿ He had had every story imaginable come up for bounced checks.?ÿ Many times it is a case of a consignor buying more back than what he sold. He will be good for it, but needs a few days to resell some of the too much he bought.?ÿ Eventually, he ends up with about 99 percent of what he is owed.?ÿ Those guilty of being in that one percent category are banned for life from so much as attending any future sale, let alone consigning or purchasing any of the merchandise.
I have a small handful of customers that pay by check. The rest (mostly individual property owners) pay through a Quickbooks Payment Link. I almost always receive the balance due the same day I Invoice through QB, sometimes within minutes. The cost of the online transaction is built into my fee.?ÿ
There are methods for collecting overdue invoices: they are called liens. I took me about 9 months in my first year of business to learn Accounts Receivable is something to be watched continuously, and I mean every single week. Subsequently, any delinquent accounts that were overdue (per the allocated time on invoice) received a copy of a lien filed by my Company against the property surveyed regardless of the owner.
Sure, I lost some clients because of my payment demands, was sued twice, and won both times. Nonetheless, my accounts receivable never exceeded 3% of total billing in excess of $1M/yr for 32 years in the rat race.
Accounting, especially AR's, along with professional diligence are one the roots of a money making professional business. ?????ÿ
