View Full Version : Pre Authorized Checking
04-14-2003, 11:30 PM
I was wondering how many of you have transitioned from monthly invoicing to Pre Authorized Checking on your receivables, what if any problems did you encounter
04-15-2003, 07:13 PM
What is Pre-Authorized checking? Are you talking about bank draft?
04-15-2003, 09:23 PM
Its were you hire a company to electronically withdraw funds from your clients checking and deposit it into your checking, I am trying to find out of companies that do this to see if it is worth it , I am trying to save time on invoicing each month and know that the funds will be available on a given date in my account, I would hope to help eliminate time chasing after people to remind them of there payment
04-15-2003, 09:43 PM
Jim Lewis does it this way....lewislandscape.com.
He bills the same amount every month. May be the most intelligent way to go about this business.
Problem is, he's in the northwest where I'm sure he's dealing with cool season grasses...it at least makes some degree of sense to mow those grasses in the dead of winter.
Here in Dallas, everyone's got Bermuda. And if they don't have bermuda, they've got St Augustine. Both are dormant for 3 months out of the year. If I did things this way, I'd literally be getting paid for three entire months worth of service for one cut in December, and a scalp mowing in late February. I thought about it but figured too many would cancel in mid-November. The real growing season is late March through mid November here in Dallas. And even from mid October to about mid April, it's really too cool for bermuda or St Augustine to grow much at all. Today I mowed 10 lawns and on some of them I could barely tell where I'd mowed and where I hadn't (though that was partially due to poor watering habits).
I wonder if you can do the auto debit on the checking account for differing dollar amounts each month. I've never heard of that type set up before...everyone who is auto drafting my account (mutual funds/529B plan, home equity loan, ISP, life insurance) all draft the same amount each and every month.
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