Cash Management
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Loan Guarantee Fees or Compensation
Looking for typical guarantees fees or compensation terms offered to an unaffiliated accredited investor to guarantee a $500,000 line of credit for an LLC. Bank will require collateral. If its a % of loan guaranteed, what is typical? When collateral is posted in the form of LCs or CDs, any ideas of…
5
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What international bank would you recommend for a young company with less than $25 million in sales?
The Silicon Valley company expects to grow rapidly with international sales in Asia and Europe, and only wants to use one international bank. Citibank and BofA come to mind immediately, but should any others be considered?
2
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Currency Translation Adjustment Question
Hi, I have critical issue. Can I get the answer for the below? Some of our activity that should be posting to Currency Translation Adjustment (account 100400) is posting to Foreign Exchange Gain / Loss (account 700100) instead. Can you tell us why the activity is posting this way and how make this …
1
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Transfer from base currency account to foreign currency account
if CAD 15,640 is transferred from canadian account to an own USD account and 15,000 is received over there, what will be entry and its effect on F.S???
1
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A REAL Global Bank
I am looking for a real global bank where we can manage treasury needs and accounts in a centralized way. I'd like one point of contact that would facilitate our banking relationship and tools worldwide. Does it really exist? Bankers will tell me they have it but we always end up short, and as I…
5
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Will the US gov't issue a repatriation holiday on dividends, if so how do I take advantage of it?
Will the US gov't issue a repatriation holiday on dividends, if so how do I take advantage of it? This question was asked by an attendee during the Proformative webinar “ Bring Home the Money: The Profit Repatriation 101”; held on March 27, 2013. Join the discussion and add your insights below.
1
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Doesn't the senior most debt agreement carry the most restrictive covenants, hence if complying with those covenants we should not worry about the other agreements?
I would like to know more about senior debt vs junior debt covenants and how one affects the other. This question was asked by an attendee during the Proformative webinar "Best Practices in Debt Compliance & Case Study" held on March 28, 2013. Join the discussion and add your insights below.
5
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Do lenders really care about technical defaults?
I assume technical defaults on debt covenants draw a variety of lender responses. What is to be expected? This question was asked by an attendee during the Proformative webinar "Best Practices in Debt Compliance & Case Study" held on March 28, 2013. Join the discussion and add your insights bel…
4
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I have a covenant light agreement, so do I need to care about compliance?
And, does anyone have a debt covenant compliance checklist? This question was asked by an attendee during the Proformative webinar "Best Practices in Debt Compliance & Case Study" held on March 28, 2013. Join the discussion and add your insights below.
2
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Should my client close a bank account and open a new one if the bank account for the last 6 months doesn't reconcile?
The client hired me to optimize/re-implement their accounting system, clean up the financials for the current year (starting 10/1), recommend controls. . . note: I have been instructed that there is no fraud and not to waste time looking for it. So that is a non-issue in the solution. The client …
12
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What are the cost benefit analysis of internet banking?
I need to convince the board that the banking facilities we are currently using is costly for the company, what key benchmarks I can use. I am writing a paper for the board.
1
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SaaS Accounting integrating Online Banking Management
I am setting up a new business entity. What is the most highly integrated pair of accounting software-as-a-service and online banking management platforms? Ideally, all transactions would integrate bilaterally precluding the need for a bank reconciliation. Does anything like this even exist?
4
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Fraud Department for Card Payments
Hello, Can anyone provide insight as to where fraud departments relating to credit card payments reside within their organizations. I'm thinking of both internal fraud (employees issuing credits to themselves on their cards) and external fraud (fraudulent card usage and chargebacks). I've seen this…
2
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The End of Unlimited FDIC Insurance: Where to Invest Short Term Cash?
Unlimited FDIC insurance on non-interest-bearing deposits is set to expire at the end of 2012. If Congress does not extend the unlimited insurance program, the FDIC will only cover each depositor up to $250,000 in deposits. I want to maintain the safety of short term investments and I am not concer…
2
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International wire transfer Processes
I'm trying to tailor a comprehensive mechanism to simplify the handling of international wire transfers to suppliers, vendors and employees and the respective regulatory and compliance obligations. A solution that will ensure that upon executing a wire transfer all issues are addressed, entries are…
3
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I am trying to understand the debt management module of the TMS, can somebody explain the functionality of this modules?
what a debt management module does in the backend of the TMS. For example when the user enters the details of the debt item e.g. Bond, as well as the the hedge instrusment like Interest rate swap in to the TMS, what will happen, what the system will do after entering all this information by the use…
2
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PCI compliance (payment card industry) guidelines and cost effective compliance?
We are a small manufacturing with an IT dept of one individual. We process credit card payments through a secure gateway and our merchant, First Payment Systems. Because we process using the internet, we're challenged with PCI compliance on our end, once the info reaches the secure gateway it's PC…
4
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Do any of your companies outsource to a third party core daily US treasury operations such as cash mgt, st investments, wire transfer, cash position, FX cash JE's , access to bank systems?
If no, have you considered outsourcing and what was the main reason functions were kept in house.
2
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Any members using BitCoins?
I'm interested in adding bitcoins to one of the merchants I support. The benefits I forsee are the transaction fees *appear* low, and it seems really cool. Caveat I have before I pitch the owner is that I've not worked with them before, so I'd like to hear any feedback on positive or negative inte…
6
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Does anyone know or understand how credit card fees are assesed to B2B merchants?
We are a B2B manufacturing company. Our vendors are requesting to pay on a P-Card. I am not sure how the credit card processing fees from our bank will be assessed or what the fee will be. Our transactions can be very high, at times in excess of $20,000 per transaction. Merchant services has always…
8
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Currency fluctuation impact on unbilled services (Webinar Attendee Question)
This question was asked during the Proformative webinar "Convergence of Financial Instruments, Leasing, and Rev Rec Standards." A video of the webinar can be viewed here: https://www.proformative.com/resources/webinar-video-convergence-financial-instruments-leasing-rev-rec-standards In our industr…
1
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Corporation name change -- bank issue
We are a Delaware corporation which recently changed names -- it was in conjunction with Series A funding, but was not related to a merger or acquisition in any way. Our bank is telling us we need a second checking account in order to be able to continue to deposit checks made out to both OldName …
3
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Can a money-losing hedge actually fulfill part of your hedging program and be viewed as successful? (Webinar Attendee Question)
This question was asked during the Proformative webinar "Key Elements of a Successful Hedge Program." A video of the webinar can be viewed here: https://www.proformative.com/resources/webinar-video-key-elements-successful-hedge-program
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