Cash Management
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Mitigating controls for using electronic signatures on checks
What mitigating controls should we have in place if we go to electronic signatures on checks? How are companies doing electronic signatures. jpeg in the accounting software or a signature plate in the printer?
6
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Cash Reserves - Short Term Investment
If you had 100K in cash reserves, what would you do with it to earn more than the money markets are paying but still stay as liquid as possible?
6
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Bitcoin: Next Steps?
Many of us have commented on Bitcoin as a currency. There have been some good discussions surrounding that. Generally speaking, while the jury is out, the juggernaut is proceeding as State/paper virtual currencies are pretty archaic and difficult to use, so the block-chain-based currency has signif…
2
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Best practices for matching credit card transactions at 24 hour operations
I am reaching out to the community, especially those of you who have experience at large organizations with multiple outlets operating around the clock. I am interested in the best practices for matching credit card transactions to the point of sale system and through settlement to cash. I understa…
3
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How does your office handle PCI Compliance?
Our association is concerned we are not PCI Compliance. We are currently interviewing new credit card processors. We have been told by some they handle the compliance thru a fee they will charge back to us. I have had another one tell be I did not need to be PCI Compliance due to the volume of sale…
7
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Paying a different vendor than invoice
We have a foreign vendor asking to make a payment to a US account under a different name. Are there any legal issues for making such payment.
4
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Accounting Software - Cloud-Subs-MultiCurrency
Does anyone know of a cloud based accounting software that has multi-currency function and I can separate a parent from a sub (uk). Currently we use QB Online which was fine... until the multi-currency thing popped up. Must be a cloud solution.
5
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Does anyone have any experience with PayCom for payroll processing?
We currently use Paychex and we were reasonably happy with the service. PayCom was persistent but pleasant enough so I made time to discuss their product. The product seemed very easy to use and perhaps a more user friendly alternative to Paychex. However, I don't hear much about the company. Refer…
1
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FINRA Rule 4110 - Capital Compliance
Please note that effective February 8, 2010, FINRA Rule 4110, Capital Compliance is in effect. This supercedes the previous rule which allowed for up to $500,000 capital withdrawal without notification to FINRA. Now any cap withdrawal over 10% of excess net capital must get FINRA approval to withd…
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Customer is refusing to pay/Bad Debt Collection
Hello Proformative Friends, My company is a small chemical engineering consultancy and technology licensing firm. We have built a reputation of being the leader in our segment, and have worked with the 'who's who' of major global chemical companies over the past 25 years. We have built and operated…
6
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Best foreign currency wire transfer service
Our startup (based on Oregon) has a new need to make regular (monthly) international wire transfers to support a new development project. Given the cumulative $ amount of these transfers, our bank's exchange rate makes it a fairly expensive service. I am looking for recommendations for a timely and…
4
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Does anyone have any tips on controlling credit card fees?
My goal this year is to reduce credit card fees. There are so many different type of cards & various fees associated with them, it is hard to tell if I am getting a good rate fee from my processor. The problem in our association is our vendors using cards which earn them points (which we are pa…
12
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Has anyone had experience with Oracle Treasury Module to share?
We are a hi-tech multinational company with revenue of over $10 billion, and are in the process of evaluating an integrated treasury workstation. Our ERP system is Oracle. Logically using the Oracle treasury module for our treasury operations (banking, cash, intercompany, investment, debt, FX) shou…
6
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What does the Box Jenkins method do for cash flow forecasting?
Is the box jenkins another method to simulate cash flows forecast? is it like the monte carlo method? what is the difference between this two?
3
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BitCoins Tax Issues
"The IRS ruled Tuesday that the embattled virtual currency Bitcoin is “property, not currency,” paving the way for regulation in the U.S. The decision by the Internal Revenue Service subjects the currency and its users to capital gains and income tax and requires that digital currency operators mak…
4
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Bitcoin - Scam, Sham or maybe the next Hamiltonian invention?
Most of our monetary policies we have today can be traced back to actions taken by Alexander Hamilton, our first Secretary of the Treasury (and father of the US Coast Guard). Bitcoin supplants, from my understanding, central banks, FX exchanges and such. What do you think, and would you join in per…
13
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Accounting For Bank Charges - Accrual
Please let me know whether we need to accrue for Bank charges at the year end. Thanks Siva
6
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How do I fire my banker?
My company has been covered by the same banker for over 10 years. And the service he provides is simply unacceptable. We have more than 100 accounts with his bank, and cannot simply just switch to another bank overnight. In a meantime I would like to substitute this banker for someone else in his b…
16
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With the demise of Mt Gox......
Would you as the person with fiduciary responsibility and corporate governance work with BitCoin, and if yes, why; if no, why; and if ever, when?
2
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Best way for Silicon Valley company to take in an investment from India II?
We have several of our technological partners in India trying to put some seed money into us, a Silicon Valley company, in initial X00k tranches. Is anyone aware of the appropriate methods to achieve this transfer in the most economic and efficient manner? I realize that there are strong government…
4
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$100M investment coming in for a new business. Where to put it.
Do I just deposit in a bank account? How does FDIC cover this for the banks? What other considerations are needed. Obviously informing the bank will be necessary. What other questions should I be asking?
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