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What
What
On this page you will find all the information we need to manage both accounts receivable (people that owe money to us) and accounts payable (people we owe money to)
Who
Who
Office Admin + James
When
When
Day-to-day operations
Where
Where
Macquarie Bank Account
ANZ credit card
Xero.com
Why
Why
On order to effectively manage our cashflow, it is important to ensure aged receivables/ payables are kept to a minimum.
Accounts Receivable
Accounts Receivable
What are our payment terms?
What are our payment terms?
Traditionally, we have a very low bad debt rate.
MAG Programs
Important we receive both the deposit and final payment PRIOR to the delivery of a MAG program
Conference Bookings
Typically we request a deposit on signing (sometimes) and invoice client within 24hrs of delivery
What are the steps we take to recover monies owed to us?
What are the steps we take to recover monies owed to us?
Step 1: Send invoice
Step 2 : t+7 days-> send follow up email
Step 3: t+14 days-> send 2nd follow up email
Step 4: t+15 days-> call + email every three days until paid
Accounts Payable
Accounts Payable
When do we pay our supplies/people we owe money to?
When do we pay our supplies/people we owe money to?
As a business, we pride ourselves on building close relationships with all our suppliers, third-party contractors, and those that enable us to do what we do
Part of showing this respect is to ensure contractor invoices are paid in a timely manner. We ensure most day-to-day operating invoices are paid within 7 days of receipt of the invoice.
Last Update Date: 26/06/23
Updated By: Lesley
Page updated
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