1. How to Get Paid Faster

    How to Get Paid Faster
    Here's a simple way to figure out how quickly you're collecting--and how to do it faster. Dear Jeff, I am applying for a business loan and the lender is scrutinizing every aspect of my business. He just asked for my Accounts Receivable Turnover. Is he digging too deep? --Name withheld at request Accounts Receivable Turnover (ART) is a measure of the frequency of payment on accounts receivable, the money owed to you by your customers you are waiting to "receive." The lender is simply taking a close look at one of the factors that affects cash flow. In effect a credit sale is like a loan, so the lower the ratio the more slowly your customers are paying off the loans you make to them; the higher the ratio, the more quickly you're being paid. How fast are you getting paid? Here's the formula: ART = net ...
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