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What is ACH and How does ACH Payment Works?

In the United States banks use an electronic network for dealing with financial transactions. The Automatic Clearing House (ACH) offers a secure way for these institutions to deal with each other. The system has been in operation since the 1970s. It is regulated by the National Automated Clearing House Association and the Federal Reserve. It was established as a more effective way of dealing with transactions between banks; it has largely replaced check payments which was the old way of doing things.

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Top 6 Best Business Leadership Books Reviewed

Competent business leadership is crucial for a successful economy. Those individuals who provide leadership will have the success of a business in their hands. If they fail to do their job properly then it could easily lead to failure for the company they work for. There have been some great books written on this topic over the years, but it would not be possible to review all of these. Here we will be reviewing just the top 6 business leadership books.

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What is Insolvency?

If a company or individual is in a situation where they can no longer pay their bills it is referred to as insolvency. This is a precarious situation for any business to be in and if cash cannot be generated quickly to cover debts it can lead to bankruptcy. The main reason why this situation occurs is because debts and liabilities are more than cash flow or available liquid assets. It could be that the company has a lot more assets then debts but if this can’t be turned into cash quickly it could still spend the end for the business. Read the rest of this entry »

What is a Cashbook?

These days most of us are more aware of the need to track our income and expenditure. Bookkeeping is something that most of us will associate with businesses, but it is also something that can benefit personal money management. A good way to do this is to have a cashbook. There is something that anyone can learn to use and it can be very beneficial when it comes to managing personal finance.

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What Is a Lump Sum Contract?

When it comes to paying money for work to be done, there are a number of options. One way of doing things is to pay for the costs associated with the job along with a fix fee for labor. This means that there can be uncertainty about the final cost until the work is complete. Another option is the lump sum contract. What happens here is that the individual who wants a project complete agrees to pay a specific lump sum of money upon completion of the work. Here the final cost is already decided and it is up to the contractor to get the job done within their budget.

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What is a Lockbox?

There are many businesses that find a need for a bank service known as a lockbox. It is a way to facilitate payment by post where the money goes to the lockbox instead of office address. In some ways it is similar to a post office box, but in this instance it is the bank that has control over it. There are many great advantages to such a system and this is why it is so popular with many businesses. Read the rest of this entry »

Top 5 Best Business Writing Books Reviewed

Business writing is unlike other forms of writing. It is important that those involved in business understands how to write effectively. Failure to do so could harm the reputation of a company or lead to a loss of opportunities. Like other skills you become better at business writing by actually doing it, but first you need the information and rules relevant to it. Here are the top 5 best business writing books reviewed.

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What is Selective Distribution?

In the business world, the name of the game is making money. The more sales you have the higher the chances that you are making a profit. Although getting your product out into the marketplace and selling as much as possible is a worthy business strategy, it sometimes happens that there is too much competition in that market segment to justify the amount of effort you’re putting in to sell your goods/services.

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