finance with geoff jorgensen. general overview commissions order payment accounts receivable...

FinanceWith Geoff Jorgensen

General overview• Commissions

• Order Payment

• Accounts Receivable

• Questions to ask Geoff

Random Chuck Norris Fact #1

When Chuck Norris does a pushup, he isn't lifting himself up - he's pushing the Earth down.

Commissions

• When do we get paid?

• What do we get paid for?

• How much to keep for Uncle Sam?

Commission Levels:$0 - $7499 = 10%$7500 - $14,999 = 12.5%$15,000 - $GOAL = 15%> GOAL = 2.5% Bonus

Order PaymentAcceptable Forms of Payment• Credit Card, Debit Card, Check, Cash, Money

Order, School PO

• Must be one singular payment

• Not Acceptable Forms of Payment

Payment Options• Credit Card

• Send Invoice

Random Chuck Norris Fact #2

Chuck Norris can tie his shoes with his feet.

Card on File• We require all customers to place a credit card on

file before an order can be processed• The card on file will not be charged until the

invoice reaches 30 days past due• Do not check out on orders for your customers

and place your personal card on file• Have the customer checkout on his/her own order

and place a valid credit card on file

School POs• Card on file

• Follow up with financial office

Random Chuck Norris Fact #3

Chuck Norris ordered a Big Mac at Burger King, and got one.

Accounts Receivable• All order payments are due on the delivery date

• <30 Days Overdue

• >30 Days Overdue

• >60+ Days Overdue

Art Fee A/R Policy• <30 days overdue

• >30 days overdue

A CM can eat these costs by taking $12.50 from commissions

Chuck Norris T-Shirt Idea

Questions for Geoff• Something went wrong with my deposit.• Any questions regarding customer payment• Any questions about a late payment• Any tax questions

The Man in Action!• http://

www.youtube.com/watch?feature=player_detailpage&v=f67LgpJBPPE

• What questions do you have?

09000 2 87654321510 04 98765432103 9876543210987654321021 987654321098765432100Hours Minutes Seconds

What are your take-aways?

09000 1 87654321500 04 98765432103 9876543210987654321021 987654321098765432100Hours Minutes Seconds

What are your take-aways?