Another use for online discount calculators
Plenty of A/P departments use some type of an online discount calculator to see it’s worth taking suppliers’ prompt-pay discounts. Well, here’s how your Finance department can get even more from that tool.
Get your Accounts Receivable to take some of the more popular prompt-pay discounts your firm is offering and run them through whatever calculator your A/P department uses. This is a quick and painless way to see if getting the cash more quickly is worth the price cut you’re firm is offering customers.
It’s best to focus on customers who always take your early-pay discount first, then eventually run all of your discounts through the calculator.
Whether you’re interested in using an online discount calculator in A/P, A/R or both, here is a great (and free) tool to check out — courtesy of the U.S. Treasury’s Financial Management Service.
- Share on
Free Training & Resources
White Papers
Provided by Personify Health
White Papers
Provided by UJET
Further Reading
If your revenue involves digital goods and services, you’ve noticed more states are expecting you to collect and remit sales tax on t...
Two Supreme Court rulings — one just announced and one to be released later this spring — will tip the scales further away from...
Back in 2013, the Securities & Exchange Commission (SEC) accused hedge fund manager George Jarkesy of defrauding two investors. Unlike ...
The FDIC takeover of Santa Clara, CA-based Silicon Valley Bank (SVB), which news reports described as the worst bank failure since 2008 and...
A recent global risk management survey revealed that macroeconomic volatility, trade disruptions, and increasing competition have pushed ca...
In March and April, some of your peers will receive CP2100/CP2100A notices from IRS that will require them to mail out B notices notifying ...
