What 2012 Postal Service cuts mean for you
The United States Postal Service has been forced to make some major changes just to stay afloat — and those changes will have an impact on businesses of all sizes.
In an effort to cut costs, the USPS plans to consolidate a number of its office locations.
That means, depending on where your company is located and where checks and remittance are headed, first-class mail is likely to be delayed to 2-3 days.
So, if your purchasers and approvers already struggle with invoices where early-pay discounts (or worse, late fees) are at stake, you’ll need to expedite your processing time by two days just to stay ahead of the curve.
However, these changes might actually benefit your Accounts Receivable department. Example:
2-day mail: You’ll get remittance info early or mid-Day 1 as opposed to waiting until Day 2 for local points.
3-day mail: Delivery is possible late on Day 1 or early on Day 2 for flown mail, but not later than early afternoon on Day 2 — as opposed to the morning of Day 3.
- Share on
Free Training & Resources
White Papers
Provided by UJET
Further Reading
Corporate bankruptcy rates are at Great Recession levels last seen in 2009-10. The worse news? The year’s only a little more than hal...
Fall is the crunch-time season for unclaimed property reporting and escheatment. The states with approaching deadlines are almost as numero...
A lot more contractors and businesses like yours that receive payments via CashApp, PayPal or Venmo have been bracing for getting a 2022 Fo...
The IRS is about to put all of the the funding, personnel and technology advantages it now enjoys to use. Count on an upswing in audits of ...
B notice season (September through October) can be a minefield for A/P pros because nobody wants the extra work of calculating 24% backup w...
How did a diversity, equity and inclusion (DEI) program manager defraud Facebook and Nike of more than $5 million? With the help of crooked...
