A Payday Loan?

Recently, I received a mailer offering me a short-term loan to cover emergencies. According to the lender, I was “Pre-approved” based on some criterion that they saw on my credit report which indicated to them that I was a good candidate for a loan.

It appears to me that as the government enacts legislations to monitor and govern these financial institutions, they are become more shrewd in their quest for unsuspecting indivituals who may be desperate, thus plunging them into more debt.

Therefore, before you consider applying for a payday loan, take a brief moment to consider your options. Ask yourself if it is really an emergency and if you can afford the loan at this time. Payday loans can be helpful for one-time emergency costs such as medical bills, but are not a good idea for funding unnecessary expenses.

So, if you have evaluated all of your options and decide that an emergency payday loan is right for you, be sure to understand all the costs and terms before you apply. Consider these two points:

• Shop around for a trusted payday lender that offers lower rates and fees.
• Borrow only as much as you know you can pay back with your next paycheck.

Now remember that when you get paid, your first priority should be to pay back the loan immediately. Learn more...

Build an A/R Aging Report with Excel

Many small business accountants are experiencing difficulty monitoring their receivables because there is no aged A/R report.

If we take the balance sheet of the business, we will see only one total amount of accounts receivable and will not know what the age of this balance is, that is whether the customers are paying on time and how much days the balance outstanding will remain on the books before payments will be received.

In order to analyze quality of the receivables, their aging is used. It represents grouping of debt from customers into certain groups depending on their age, i.e. debts outstanding for 30 days, 60 days, 90 days and more.

Based on such split we can judge on the quality of accounts receivable,by comparing the age of the major groups with the payment period determined.

In this video Danny Rocks will create an A/R Aging Report in Excel using the total for invoices that are "past due" 1 - 30 days, 31-60 days, etc.



If this tutorial has been of any help to you then please leave a comment and let us know how it has helped you.