Handling your money 💰

💲Cash ALWAYS goes in your fanny pack or in a really safe place. Cash should be on you at all times until it goes into the bank.

🏦 Checks should be CASHED. This means you go to the bank and get cash for the check so you know it will clear. If it does not clear, they will tell you on the spot. Some banks charge for this.

Use discernment on the method of payment you receive. If it’s a big balance due - $400 or more maybe it’s best to ask for a check. Credit card charges would be more than a “cash the check” charge. Less than $400 would be better to do a credit card or debit card. You know the money is there right away and your cc charge will be less than cashing a check.

💳 Credit Cards & Debit Cards are nice during deliveries because you get the cash and it’s remitted right away!

Remember collecting balance owed is always the most important, regardless of how they pay so be flexible with the payment methods for families!

For Payments that Don’t go Through ❌

This would mainly be checks that don’t clear — assume it’s an honest mistake! It usually is. Approach her light-heartedly and give her the benefit of the doubt. You can try again the next day (maybe money is hitting her account that night). If it still doesn’t clear, you can use the script below.

“Hi, is Sandra Griffin there? Sandra, this is Joe College, the education man. How are you doing? Have Billy and Emma had a chance to look at the books yet? Great! Listen, I called because I need your help on something. I am trying to get all of my banking cleared up and your check would not clear yesterday. I figured they may have been late in crediting a deposit and so I tried it again today and for some reason it still would not go through. What may have happened is that you are just a couple of dollars short and they won’t let it go through. Do you have any idea what the problem might be?”

If she says, “I don’t know why it didn’t clear, I put the money in this morning,” you should probably try it one more time. Usually they will know what the problem is.

The best solution is this, “Could you do me a big favor? I have got 35 deliveries scheduled tomorrow and I am running around like a chicken with its head cut off! Could you stop by the bank and get cash out and I will come back tomorrow and return your check? That would be a big help and I really would appreciate it.”

For Payment Alerts on your Account ❌

Again, we assume she’s an Ethel until proven otherwise. Deliver just like you would and collect what she assumes is due that day. When you collect the payment she was expecting to pay (the other half or whatever it may be), now you have a deposit and are at an advantage to bring it up.

At this time, you can notice that the first payment didn’t go through. “There must have been a problem at the beginning of the summer because it never went through. Can we take care of that amount with this same payment?”

Holding Checks or Scheduling Payments until End of Week 📅

Note: The best practice is to schedule payments BEFORE you leave the field.

If you leave books with a family, and their payment does not go through, and you’re no longer on the field, then your communication with her is only over the phone.

We have the opportunity to drop ship products if we need to schedule payments past the date that we are in their area. I would do this instead of leaving product with them. Once their payment goes through you can drop ship the product.

Sending Money to you at Home 🏠

Just don’t do it. 😃 They probably won’t… I’m talking sending you a check in the mail or a cashiers check or money order. Just schedule payments via your ROS and operate all payments there.