December 2012
To: All Managers and A/R Team Members
Pump It Up! Let’s get it paid!
Chanukah is early this year, so let’s celebrate!
Traditionally during Chanukah children and adults play with a four sided top called a dreidle….and a pile of gold chocolate coins called Chanukah Gelt. Each side has a letter, and each letter has a different meaning for this game:
Nun or N – Stands for neis (a miracle). If you land on Nun, you get Nothing! (Here’s the KBC version: if you land on Nun, make five phone calls to your A/R over 60 days. Eat a chocolate when finished.)
Gimmel or G – Stands for gadol (big). If you land on Gimmel, you get Everything! (Here’s the KBC version: if you land on Gimmel, call your client with the largest amount owing left on your call list. Get it all. If you get it all eat 2 chocolates.)
Hey or H – Stands for hiyah (here). If you land on Hey, you get Half! (Here’s the KBC version: Call three clients who are not keeping their promises and are past due. If you can’t get the whole amount today, get half, and then eat a chocolate.)
Shin or s – Stands for sham (there). If you land on Shin, you Put one piece in! (Here’s the KBC version: if you land on Shin, make a call on your list, and then make another before spinning again. Give one of your co-workers a chocolate.)
So, the four sides of the dreidle stand for: a big miracle happened there.
Well, we want a big miracle to happen in your office also. We want you to all have 90-95% A/R under 60 days by the end of December. So, spin your dreidle. Have fun! Laugh! Giggle! Finish your calls and your chocolate!
p.s. There are eight nights of Chanukah, so you can keep making your calls for many days!
End of year!
So, here we are again at the end of the year. Time to clean up and time to look forward.
First, let’s cleanup!
- Get those old amounts in. We are going to a new computer system, and we would like to bring the good into the new and leave the rest. So, get calling, e-mailing, faxing, mailing and bring the money in.
Mr. Bass always said that if they don’t return your call the first day, call twice the second day. If they don’t call back the second day, start calling hourly. It’s amazing how quickly someone will stop avoiding you when you become super persistent. Don’t forget home phone numbers, cell numbers, texts, and multiple extensions within the company. In large companies it sure doesn’t hurt to leave a few messages at alternate voicemails complaining that you haven’t been paid and cannot get in touch with ___________.
- In 2013 we start having the following print on each invoice: Items listed on this invoice remain the property of KBC Tools, Inc. until paid in full. KBC reserves the right to charge an administration fee of 2% per month (24% per year) on past due amounts. So, you can advise your really past due accounts that we will start charging an administration fee of 24% per year on past due accounts. (You don’t have to tell them that it is only on new invoices in 2013, but hey, it should stop them from thinking of us as a interest free loan facililty.)
- The week of December 10th, call all your accounts over 60 days and ask if they would like to pay off their accounts – yep, that is everything 30 days or over – today only with a credit card. They get the points, this time only, and we get a clean account to take to our new system.
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Monday, December 3rd, run a trial balance and go through to do applies that make sense, write off Invoice Balances $5 and under, and write off all credits over 1 year old. Also, write off all credits over 6 months under $5. (Please do not write off invoice balances or credits for accounts
that are in collections.)
Now, time to look forward!
- The new system is going to be great.
- Work hard now. Enjoy the holidays.
- Get some rest. Then get ready! January 2nd is the day!
Thank you for all your efforts in getting us ready to GO Live in P21! Thank you for all your hard work in 2012 making sure that we take care of our clients and that they take care of our invoices! We have a great company, a great team, and a great roster of the best clients in metalworking in North America.
Happy New Year! Happy Holidays!
Be well, be happy, be safe,
Paula