US Postal Service Goes Bust?
US Postal Service Goes Bust? Did you KNOW? Software You Already Own Could Be a Life Saver!
Are you panicked that your check or mail might not get to its intended destination? Well, I am worried and so are others. According to what I see the Postmaster General is heading for a train wreck, as cash flow has them begging the US government for a bailout.
I find it amazing you can send a critical letter or a check anywhere in the country for just 44 cents, and postcards are just 29 cents. That low price includes US territories such as Puerto Rico. In fact, just today I popped a letter in the mail and I know it will likely get there in a mere two days tops. We are very spoiled and don’t even realize it! But what are we going to do if it takes a week? Or the cost increases to $3.00 mail that letter?
Nowadays, most mail has turned electronic. We send more correspondence than ever through fast, easy and “free” email. And most retail or service based businesses accept cash via debit and credit cards. However, a vast majority of small service firms are still waiting for a check in the mail. Sometimes owners are so tied up running the business’s they don’t even know they have the answer at their finger tips. Luckily there are steps you can take to make you and your business more self sufficient using the tools you already own.
Acclivity, the makers of AccountEdge, Deltek, the makers of Vision and Axium, the makers of Ajera have solved the problem of mailing old fashion checks in a couple of ways:
- Payroll in house is a very viable option if your firm wants to produce their own payroll and/or you have the compliance filing feature in AccountEdge. That servicing has an option for Direct Deposit. Payroll in-house is still practiced by many small companies as its a fifth of the cost of a service. Direct deposit is a servicing cost plus option, but savings are made with no check, no stuffing envelops, and simpler checkbook management. Both Axium and Deltek provide in-house payroll with Direct Deposit but as of this writing do not provide a compliance or forms filing feature at this time.
- Merchant Servicing and credit card functionality exists in AccountEdge and has been a cost plus service for at least the past 10 years. Accepting credit cards can reduce receivables even with the fee, for certain small businesses this solves the huge headache of collecting money. Consolidate double entry if you’re on a separate service. Neither Ajera nor Vision provide a merchant credit card feature.
- Vendor ACH or direct payments. Yes, a cost plus service, but no envelopes. A secure way to pay your vendors and manage cash flow. This service is a feature of Vision, Ajera and Accountedge. Although the end functionality is the same the costs associated with this service varies, whether your bank charges a transfer fee, the servicing company charges a fee or the maker of the software is charging the fee. Note, electronic payments can be be in batch and managed/controlled for timing. They are secure and reliable. This is old technology. Note you need not use paypal.
Could the Postal Service come to a halt? Heck, your guess is as good as mine. I do think technology will continue to shave away the US Postal Service business and that may mean things like walking a block to pick up your mail only a few days a week. No thanks! Cash flow is key to every small guy I have ever worked with.
Two Reasons great accounting software is like my Piggy bank:
1. It’s fat like a Pig when it comes to solutions
2. Its helps you save money