Firstly don’t have any paper …
This is now a lot easier to accomplish with online tools and software which can store your contracts and legal documents. With the rapid growth of the iPad and tablet computer market documents stored on the software are now portable and can be read in a normal manner rather than on a PC screen. Continue reading
Gym clean and tidy – check, changing room clean – Check, machines working – check, staff arrived – check… lets open the doors for another fun day at the Gym!
But you know as the gym manager that this is just the start of a long day managing the membership payments of your members. From not enough contact or payment information, missing paper work, missed payments or unaccounted for money in your account.
Here are 5 things to look out for when managing your membership payments.
At Ezypay we are constantly reviewing our systems and listening to your feedback about improving our billing services.
After feedback from different customers, one feature we have been able to introduce is to add business names to customer’s payment transaction on their credit card. This listing currently appears on the customer’s bank account statement but not their credit card statement. From 27 February 2012 business names will also appear on the customer’s Visa and MasterCard statements too.
If you are a customer of Ezypay and would like to more information about these new FREE features please call the customer service team on 1300 300 553 or customerservice@ezypay.com.au, and they will abe able to help
31 Daily Cash Flow Tips
During the month of January 2012 Ezypay shared our cash flow expertise and running a 31 Day Cash Flow Challenge. Here is a reveiw of all the daily tips.
An eBook will be available soon.
Day #1 – Make sure you know your current financial position
Day #2 – Make sure the price is right and you are covering your costs
Day #3 – Reconcile your membership income on a weekly basis
Day #4 – Reduce non-core-expenditure
Day #5 – Carefully budget payments for essential expenses
Day # 6 – Keep stock levels to a minimum
Day #7 – Set your credit terms carefully
Day #8 – Planning for the lumps
Day #9 – Pay your creditors strategically – guest blogger Heather Stone – You’ve Been Promoted
Day #10 – Are you addicted to lump sum revenue? Guest blogger Justin Tamsett – Active Management
Day #11 – Don’t incur tax and other statutory penalties
Day #12 – Send invoices on a daily or weekly basis
Day #13 – Invest spare cash in a high interest account
Day #14 – Be really stingy and eradicate unnecessary expenses
Day #15 – Get finance products working to your benefit
Day #16 – Don’t forget about Pro-rata payments
Day #17 – Spread out payments over a reasonable time frame
Day #18 – Do a cash flow projection
Day #19 – Bring in the professionals
Day #21 – Do you know the difference between a balance sheet and profit and loss
Day #22 – Get another quote or two
Day #23 – Discount …. but only for profit
Day #24 – Regularly complete an expense audit
Day #27 – Use Paretos 80/20 rule – guest blogger Rohen Burton, Chief Financial Officer, Fit n Fast
Day #28 – Set up a USD account – guest blogger Rohen Burton, Chief Financial Officer, Fit n Fast
Day #29 – Collect Bad Debts ASAP – guest blogger Rohen Burton, Chief Financial Officer, Fit n Fast
Day #31 – Ways to find hidden money in your business –from the Australian Business Centre
Ways to find hidden money in your business
Extract from the Australian Business Centre.
Most businesses have a hidden source of extra cash right in front of them. Here are a few ways for you to find that hidden money.
If you have some empty space that you are not using wouldn’t it make sense to lease this out? If you really don’t need it you could consider selling a concession for it. It is far better that the space is used by somebody else rather than just left doing nothing.
If you have some empty wall space outside your business you could consider renting this out to advertisers; you will need to check with local laws first before making this move though.
If you don’t have enough work to keep all of your staff productive you might be better off letting them go. You might consider hiring some freelance workers that you can use when you need to. Having less full time workers will also mean that you won’t have to pay so much on employee benefits and office equipment that they would need if they were with you all the time.
Consider leasing rather than owning assets. It is important that you do a cost benefit analysis to see if it would make more financial sense for you to lease rather than own assets. Keep in mind that if you lease them you won’t be able to claim them as a business asset.
If you have any equipment that you don’t use all the time you should also consider renting this out during the quiet times. Weekends and evenings is a time when this equipment is idle; it could be making money for the business instead.