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I INSIGHT ON SMALL BUSINESS A weekly feature for entrepreneurs What level of accounts receivable is healthy for a small business and how can I keep this level in check?, A key factor for any business is the amount of accounts receivable - the money owed by customers for goods or services sold to them on credit - and how they arc handled. The amount involved will depend to a large extent on the rules set up for granting credit to customers and the way they are applied. If credit terms are too vague or the invoicing system sluggish, accounts receivable will tie too much of the capital that could be used in producing more goods or services services for sale. £ There are a couple of simple ways i to keep a check on accounts receivable: receivable: (1) Classify them according to their age since the date of sale. The aging analysis, made up from a listing or all of the individual accounts accounts receivable, can be done quickly quickly on a regular basis - for example, at the end of each week or month. This analysis will also tell a business business owner about the quality of the overdue account - about the likelihood HERMAN "I'm not stealing It. I'm moving it closer to my house." James Publishing Printers Since 1854 68Ktag8t.W., Bownanville 633-3303 Directory ACCOUNTANCY WILLIAM C. HALL B. Comm! Chartered Accountant 35 King St. W., Newcastle Telephone 987-4240 SUTHERLAND, HOBB and PARTNERS Peter A. Hobb.C.A. Wilmar J. Bakker, C.A. Chartered Accountants 118 King St. E. Bowmanville 623-9461 N. L. WOODHOUSE & Assoc. Certified General Accountant NewViews and bedford Installations and Support 8 Holgate Cres., Bowmanville 623-9650 DOUGLAS R. FREEMAN B.A., C.A. Chartered Accountant 511 Bond St. W„. (Bond St. at Stevenson Rd.) Oshawa, Ontario LU 2M2 Phone 576-4619 LEGAL SERVICES MERVYN KELLY LAW OFFICE 41 Temperance St., ' Suite 202 Bowmanville, Ontario Phone 623-4444 LAW OFFICE P. Heslin LL.B. Family Law Real Estate 38 King Street East, Bowmanville, Ontario L1C 1N2 (416) 623-5554 1-800-465-2605 SERVICES Grundy's Country Upholstery Studio CUSTOM UPHOLSTERY, s FREE ESTIMATES PHONE 983-9874 THERE'S NO PLACE LIKE HOME INTERIOR DESIGN 2020 Hwy. #2, Bowmanville 623-7483 ' Margaret Coombes Gloria Brooks • In-Home Consultations • Window Treatments • Colour Co-ordination Portfolios • Furniture • Wallcoverings • Room Accessorizing 18 Years Experience ANDELWOOD HOMES Custom Homes Additions and Renovations For Free Design Consultation and Estimates Phone 623-6786 - 985-8696 (Ev.) YOU COULD ADVERTISE IN THIS SPACE! ALTERNATIVE HEALTHCARE NEWCASTLE HOME ÇARE OXYGEN CENTRE 24 Hour (jKM. Phone Service' (416) 436-0985 We put the meaning back Into the word 'care'. CHIROPRACTIC Bowmanville Chiropractic Naturopathic Clinic ' John W. Hawrylak, D.C., N.D. Doctor of Chiropractic and Naturopathy 168 Church St., Bowmdnville(416) 623-4004 . Spinal And Nerve Care Nutrition Hair Mineral And Vitamin Analyala Acupuncture Food Intolerance Testing DR. LAURENCE A. GREY D.C., N.D. Chiropractic, Naturopathic and Homeopathic Clinic 243 King St. E. Oshawa, Ont. L1H1C5 725-7000 Bowmanville Family Chiropractic Centre Kathlynn M. Hoch D.c. Katherine A. Wood, e.sc. D.c. Renee Bos, Certified ReflexologM Walt Jurek, tteg'd. Maeeege Ther.pi.t Chiropractic and Sports Injuries Laser Acupuncture Foot Orthotics Rellexology/Allergy Testing Massage Therapy Stress Management 623-8388 43 Ontario St HOME SERVICE BARINA HOME CHECK • Vacation Home Checking - Wedding Day Gilt Sitting Barb Shetler -- Ina Cox Newtonville 786-2996 BONDED COMPUTER SERVICES ANDYfS SOFTWARE INC. Custom Designed Software to solve YOUR problems, SPECIALIZING IN INTEGRATED ACCOUNTING APPLICATIONS • Inventory Control • Sales Tracking • Receivables • Payables • General Ledger Complete aller Sales Service and Inslruclion Computer Sales, Services, Maintenance and Supplies Amortization Schedules 623-2375 2538 Maple Grove Rd„ Bowmanville INVESTMENTS LLOYD M. METCALF RRSPs • GICs • Mutual Funds • Stocks lmaliiKrtiiMMiiloC«ieill«iinîîiï?toîî3rîZ]Sÿ(î!S- 12 King at. E„ Oshawa Li H7M9 434-6161 FINANCIAL SERVICES • Life and Term Insurance 1 RRSPs • RRIFs •Annuities • GICs • Disability and Group JOHN WILLOUGHBY 623-4038 623-3108 The Mutual Group Section Two The Canadian Statesman, Bowmanville, Wednesday, June 17,1992 For Your Information- . Perfect Time for Growing Beautiful Gladiolus of collecting, or whether the sum owed will have to be written off. By examining the accounts receivable, it can also be determined whether these overdue receivables involved one or two large accounts. If that is the case, and collection can be made, the accounts accounts receivable picture„can be significantly significantly improved. The business owner also can tell, from the aging schedules for several consecutive periods, whether collections collections are improving or whether old accounts accounts are piling up. If the latter is the case, it might suggest a need for revising revising credit terms and collection practices. practices. (2) Calculate the average collection collection period. If the credit and collection system is under control, the level of accounts receivable will likely vary directly with sales volume. The average collection period should be calculated on a monthly basis, basis, each month end. If accounts receivable receivable at that time represent more than the average monthly collection period over the preceding 12 months, it might be an indication of slow collections. collections. If so, steps should be taken to urge more prompt payment by customers. customers. Some businesses may grant more credit at certain times of the year than others. But individual circumstances will indicate what collection steps, if any, arc required. When that happens, care should be taken to achieve the \best results with a minimum of offence offence to customers. ' Failure to take action, diplomatically diplomatically at first, but with increasing severity, severity, on an overdue account, can only encourage the delinquent customer customer to pay even less attention to this obligation. But as the period for final action nears, a differentiation must be made between customers able, but unwilling unwilling to pay, and those willing, but unable to pay within a reasonable time. In the latter case, patience may be less costly than legal action. A credit-granting policy is important, important, but so is a credit-collection policy policy applied consistently and fairly. Remember, Remember, the paid up customer can buy more, and prompt settling of accounts accounts eliminates expenses caused by slow payment. By Mrs. Jill Chappell Gladiolus are really very easy to grow, and right now is the perfect time to plant them. Any fertile, well- drained soil in a mainly sunny place will produce good looking glads. But for the best glads - with taller stems and bigger flowers, select an area in full sun, away from any tree or shrub roots. The soil should have organic material dug in, and a small handful of bone meal mixed in with the soil for each square yard. Large-flowered types of glads can grow as tall as 4', medium types grow to 3', and miniature miniature glads will grow 18 to 24" high. Plant the corms 4 to 6 inches deep and space them 4 to 6 inches apart. The husk covering the corm can be removed removed at this time. Plant the corms at 2-week intervals during May and June for continuous bloom, and select culti- vars that bloom from very early to very late. Keep them on the dry side until top growth emerges, then water deeply. A fertilizer which encourages bloom (high last number) can be applied applied when the growth is about 6 to 8 inches high. When plants are young, thrips - a tiny, slender insect that rasps foliage and sucks the plant juices leaving silvery silvery areas, can be a problem. Thrips cause the flowers to deform, and can kill the plant. Spray the plants weekly with insecticidal soap, spray with Benomyl or Malathion, or dust with diatomaceous earth if you wish to use an organic control. Cut your glads for indoor show when the .first two blooms on the ispike have opened, and as the flowers open, cut off the wilted blossoms. To store glad corms for the winter, dig the plants after the first light frost, cut off the tops close to the new corm and discard any that show disease or injury. injury. Leave them exposed to the sun for a day to dry off the soil. They should then be dusted with a film of 4% Mal- athion or su phur powder. After one right in well ventilated trays in a dry, The Brooklin Master Gardeners month the old corm is removed, the dark space at the temperature of 40- had a booth at the Brooklin Spring husks retamed and the corm stored up- 50F . Fair on June 5,6 and 7. HOROSCOPES June 21-27 ARIES - March 21/April 20 A lack of concentration may mar your performance at work this week, and this state of affairs may not show signs of changing until Thursday or Friday; Your antics may not be appreciated by your close friends; try to be more sensitive. TAURUS - April 21/May 21 There could be some pleasant surprises surprises this weekend when some relatives relatives come to visit you, and you may be touched by their concern for your well-being. Some ideas you have been mulling over about brightening brightening up your home' may come to fruition this week. Any travel plans you have arc likely to turn out to be successful. GEMINI-May 22/June 21 A little secret you've been trying to keep to yourself leaks out this week -- but you'll find that this actually helps, because people will react favorably to your plans, despite your fears to the contrary. There's some good news coming about travel arrangements you've been making. CANCER - June 22/July 22 - Don't worry if you find that you- begin this week on the wrong foot. You'll find people very understanding. understanding. But lcam your lesson, and don't expect them to be patient next time! You'll find life a bit hum-drum right now, but things will brighten up toward the end of the week. LEO - July 23/August 23 You'll be under a lot of pressure to change a rather important plan in the next few.days, but there will be plenty of help on hand to enable you to cope with any complications. The best advice for you is to handle problems as they arise -- and to trust your own judgement. The weekend will find you doing something something out of the ordinary. VIRGO -Aug 24/Sept 22 This looks like a good week for you! You'll find that everything goes like clockwork -- especially in your daily routine, where recent complications may have, made tilings rather hard to deal with. Don't be taken in by extravagant extravagant promises that may be made to you. Ask questions'and consider the possible long tenu effects. There arc going to be some surprise dcvclop- mctiLs in store for you later. LIBRA-Sept 23/Oct 23 You must try to take things easier this week; you'll find there is plenty of opportunity to relax, because your social life is going to quiet down after what has been a rather fast- moving time. There's some interesting interesting news this week coming by mail; it may be the cause of a small celebration celebration this weekend. SCORPIO-Oct 24/Nov 22 There could be some friction between between yourself and a colleague in the next few days. Remember that nothing is solved by ignoring a problem. problem. There may be a bit of a row, but it will clear the air. However, it is a good time to team up with other people people on anything new you've been thinking about. SAGITTARIUS - Nov 23/Dec 21 Whatever you do, don't be afraid to take the initiative this week -- you should find that this sort of action can pay handsome dividends! Avoid all sorts of confrontations, though -- if you run up against difficulties, try to find a way around them without upsetting people. CAPRICORN - Dec 22/Jan 20 Don't fall into the trap of taking things too casually this week, or else you may miss an important opportunity. opportunity. Resist the temptation to put things off, and get down to those routine little little matters straight away. You'll find that there's plenty of time this weekend weekend to get involved in some outdoor activity and meet new people. AQUARIUS-Jan 21/Feb 18 You may get a special "tip-off" about some rather disturbing changes ahead, but try to put things into perspective -- and don't worry about them tbo much. It could all turn out to be much less important than it seemed at first. If you arc single, single, then you might now be taking certain steps to change your status in the near future. PISCES-Feb 19/March 20 This is going to be a light-hearted time for you, so be ready and willing to get into the swing of things socially. socially. You won't do much entertaining yourself -- but you might have a problem keeping up with all of the invitations you will receive. Don't stay too long in company you don't really enjoy. YOUR BIRTHDAY THIS WEEK The next 12 months: You can accomplish a lot this year. Just keep one thing in mind: Don't underestimate yourself. You're way too hard on yourself. You should also lcam to be a little more spontaneous; spontaneous; you seem to miss out on a lot of fun. A long-term love will reenter reenter your life, and this time it may be for keeps! Get in touch with how you really feel. 28 3 4 ■ 12 ■ ■ ■ ■ 21 22 ■ 29 ~ CLUES ACROSS CLUES DOWN 1. Budge l.Hazc 3. Burst 2. Compass point 5. Creep forward 3. Investigate 7. Colleague. 4. Arrogance 9. Slant 5. Jot 10. Cut down 6. Grasped 11. Sire 7. Distributed 14. Snapshot 8. Hastened 15. Corpulent 11. Kiosk 17. Apparent 12. Eminent 18. Characteristic 13. Sum 19. Similar 14. Metal cooking container 20. Inn 16. Watch 23. Mild 21. Group of eight 25. Network 22. Conjure 27. Killed 23. Hand warmer 28. Quick 24. Retained 29. Extremity 25. Note 30. Portent 26. Song of praise Last Week's Solutions ACROSS 1. Inlet 4. Eager 8. Hod 9. Adieu 10. Organ 11. Nab 12. Undid 13. Limited 16. Effort 19. Saying 23. Cradled 26. Taboo 28. Mar 29. Throb 30. Asset 31. Roc 32. Drake 33. Tryst DOWN 2. Laird 3. Thunder 4. Edible 5. Groom 6. Right 7. Owned 9. Amuse 14. Ivy 15. Eon 17. Far 18. Odd 20. Attract 21. Gloat 22. Admire 23. Catch 24. Acrid 25. Libra 27. Bossy Ucimstd with Mutual Lite ol Canada. ltd Your Pontiac Buick Performance Team's Best-Selling Car. out NEW LOW PRICE UNDER $11,399 with $750 cashback and no chatge air conditioning applied Pontiac Sunbird l.F. Sedan s| Stopping power! Pontiac Sunbird features standard 4-wheel ■58 anti-lock brakes. No import in its class gives your family that security. 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