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FIMCO-MEISTER
10-21-2007, 09:41 AM
Major Tom posted a question on getting paid or paying in cash. Weigh in your thoughts and/or critique mine.
http://www.lawnsite.com/showthread.php?t=203980

CAPT Stream Rotar
10-21-2007, 12:26 PM
cash=king!!!

DanaMac
10-21-2007, 12:52 PM
For service/repairs calls the money isn't huge per transaction. So I don't even bother pocketing it. It's not worth the possibility of getting caught. And I DO NOT give a discount for cash. My doctor doesn't, mechanic doesn't, local watering hole doesn't.

and I rarely keep much cash on hand. I pay for almost everything with credit cards and pay off each month. One card (business) owes me $700 in cash back money, and other card (personal) has about $500 built up in points towards gift certificates and other goodies. I pay my suppliers through the card to get losts of money back.

FIMCO-MEISTER
10-21-2007, 01:22 PM
For service/repairs calls the money isn't huge per transaction. So I don't even bother pocketing it. It's not worth the possibility of getting caught. And I DO NOT give a discount for cash. My doctor doesn't, mechanic doesn't, local watering hole doesn't.

and I rarely keep much cash on hand. I pay for almost everything with credit cards and pay off each month. One card (business) owes me $700 in cash back money, and other card (personal) has about $500 built up in points towards gift certificates and other goodies. I pay my suppliers through the card to get losts of money back.

Same here. JDL though won't give their 2% discount (at least not for me) so I pay them with a check. Ewing seems to prefer CC transactions. I don't accept CC myself and make all my customers go find their checkbook. They joke how it has been ages since they wrote a check.

DanaMac
10-21-2007, 01:29 PM
Same here. JDL though won't give their 2% discount (at least not for me) so I pay them with a check. Ewing seems to prefer CC transactions. I don't accept CC myself and make all my customers go find their checkbook. They joke how it has been ages since they wrote a check.

I will probably have to give in this upcoming year and accept credit cards. I won't advertise it, and will prefer checks, but will make it available. Maybe I will say only if its a certain minimum. Say, $100 or so. Or if they are late on paying. Next year I may also make people prepay for winterizing at the time of call for scheduling. Either CC over the phone, or send a check or we don't show up. I have a lot of things to think about this off season. Expansion, employees, rates, cut expenses, credit cards, service area, vehicles, etc.

FIMCO-MEISTER
10-21-2007, 02:06 PM
I will probably have to give in this upcoming year and accept credit cards. I won't advertise it, and will prefer checks, but will make it available. Maybe I will say only if its a certain minimum. Say, $100 or so. Or if they are late on paying. Next year I may also make people prepay for winterizing at the time of call for scheduling. Either CC over the phone, or send a check or we don't show up. I have a lot of things to think about this off season. Expansion, employees, rates, cut expenses, credit cards, service area, vehicles, etc.

Dana you have enough trouble sleeping as it is. Don't lose your mind.:hammerhead:

Mike Leary
10-21-2007, 03:00 PM
Dana you have enough trouble sleeping as it is. Don't lose your mind.:hammerhead:

Ditto..that the least fun of the biz, but you ARE in business! Have you thought
of a partner...someone who could run the "inside" part? I could'nt have lasted
without my CPA..but she never ran the day-to-day part.:dizzy:

DanaMac
10-21-2007, 04:26 PM
Ditto..that the least fun of the biz, but you ARE in business! Have you thought
of a partner...someone who could run the "inside" part? I could'nt have lasted
without my CPA..but she never ran the day-to-day part.:dizzy:

I do have a CPA do my year end taxes. My girl does my quarterlies, and some scheduling when I am over busy (now) and she has time. Looking at a possible office person for next year. Have thought of and talked of the partner thing :) but not sure of that. I want myself to be more of the "inside" part and start getting away from the field work.

Mike Leary
10-21-2007, 04:36 PM
I want myself to be more of the "inside" part and start getting away from the field work.

Took me about two systems before that thought occured..pulling it off took a
tad longer...however, look at me..back in the field again! Lost my "office gut"
tho.:weightlifter: