TessMore Finance Blog

Credit Policy – Definition: A credit policy is a legal policy prepared by the organization tailored to the better management of credits issued to customers. A complete set of guidelines that forms a structure of the credited amount provided to the customers is a credit policy. It also contains the terms and conditions on which the company allows its customers to receive the credit.  Management of the companies must establish a fair credit policy for their organization. For accounts receivable, the company’s credit policy will be influenced by several factors, and they are: ● Demand for products ● Competitors terms ● Risk of irrecoverable debts ● Financing costs ● Costs of credit control Why have a Credit Policy? A lenient credit strategy might drive in extra clients, however, at an unbalanced expansion in cost. A firm should build up an arrangement for credit terms given to its clients. In a perfect world, the firm would need to acquire cash with each request conveyed. ...

Days sales outstanding, also known as DSO, is a period that customers take to pay their invoices to the company. Successful companies always keep their day’s sales outstanding low. The lower the DSO, the better it is for the company.  It is the main goal; of the companies to keep their DSO low so that they can recover their accounts receivables .  High days sales outstanding means that a company takes more time to collect the credit from its customers. So, a high DSO is not a good symbol for a company. As it means there is a long time between the sale made and the payment received, it might lead to cash flow problems.  The seven top-notch strategies to reduce DSO and improve the accounts receivables are as follows: 1.  Prepare Effective Days Sales Outstanding Targets to Achieve: An organization should prepare proper DSO targets and strategies that they need to achieve.  There are many strategies used to make DSO targets achievable and effective. While pr...

November and December bring a slew of our favorite holidays. While we get nostalgic about Christmas trees and New Years’ parties, what we really love is the food. Cookies, brisket, droolworthy mashed potatoes, spicy hot chocolate — they’re all important parts of the holiday season. Do you show love by making a ton of food for friends and family at this time of year? Does your neighborhood or work place organize potluck gatherings? If so, a word of caution: Holiday meals are expected to cost more this year , so all that feasting could take a big bite out of your budget. Now’s a good time for some common-sense ways to save money, and your spice rack is a great place to start. Spices are an essential part of holiday cooking, but they can be so expensive. Herbs, too. With all your other holiday costs, why spend a ton of money on them? You can beat high costs with just a little organization and planning. Read through our tips before you start baking and cooking for Diwali, Thanksgiving...

Not long ago, I was asked to name someone in the New York City start-up community whom I admired. For me, it was a no-brainer: Muse CEO and co-founder Kathryn Minshew, a woman who in her 20s humanized job searching through her platform. A day or two after the article was published in NYC Alley , Minshew’s public relations manager emailed me and asked if I would like to meet her. Um, hell yes! Minshew started The Muse in 2011. It currently has 50 million annual users, and her revenue is in the “double-digit millions.” She also recently became an advisor to X Factor Ventures, a seed-stage venture fund for companies with a female founder. I met Minshew in her office for the 20 minutes she had to spare in her routine 18-hour workday. Her tenacity inspired me. We spoke about how she approached 148 angel investors and venture capitalists until she found her early backers. Get Fast, Reliable Funding With a Small-Business Line of Credit See How Much You Qualify For Here are some ...

How to Raise Your Credit Score: Credit Building Tips It’s a question that many people have on their minds as they begin to seriously consider their finances: how do I raise my credit score, or how do I fix my credit? Though credit scores may seem shrouded in mystery – how they’re calculated, which ones are used – consumer credit scores tend to follow a few common principles. In this post, we’re explaining some simple tricks to raise your credit score.  Raising your credit score can take time. After all, credit scores are a measure of how trustworthy of a borrower you’ve been over the years. The good news? You can get started on these credit tips today.  How to raise your credit score Ask for (and receive) a credit limit increase Pay your bills on time Show you can handle different kinds of debt Open a new account and make on-time payments How to keep your credit score high Close accounts with care and caution Stay on top of your personal finances with Mint L...

Freelance bartending is a great side gig for the holidays that doesn’t require bartending school and can earn you good extra money whether you’re working large events or something more intimate. Freelance bartenders can make anywhere from $20 to $50 per hour — and sometimes more — according to freelance bartenders we interviewed. That’s before tips, and those can bring in serious extra cash. “You definitely can make really good money bartending if you’re at the right place and you network,” said Nicole Freimuth, a freelance bartender in Chapel Hill, N.C. Do you know folks who want to hire bartenders at their private events? Friends who don’t want the hassle of mixing drinks while mingling at their own party? Read on to learn the ins and outs of being a freelance bartender. Do You Have What It Takes to Be a Freelancer Bartender? While freelance bartenders aren’t required to get special training, they do need other key skills such as a good personality, networking chops, a steady ha...

Some of the links in this post are from our sponsors. We provide you with accurate, reliable information. Learn more about how we make money and select our advertising partners . Micro-investing apps can be a great way to get your money in the stock market — even if you’re tight on cash or have little to no investing experience. But not all investing apps are created equal. Micro-investing works by consistently allocating small sums of money to an investment portfolio. It sounds simple, but each app has different fees, features and flexibility. If you’re interested in starting small, check out our list of the best micro-investing apps of 2021 to compare your options side-by-side and find one that works for you. Best Micro-Investing Apps of 2021 App Best for Account Minimum Fees Ease of Use Stash Hands-on investors $0 $1 to $9 monthly fee Very easy SEE DETAILS SoFi Invest Free investing $0 $0 Very easy SEE DETAILS Acorns Beginners ...