I bill my customers monthly,at the beginning of the month. Checks flow in all mont. During the last few days, do I dare deposit? Do I hold on to them? Run to individual banks and see if they're willing to give cash?(I understand they are not required to, they can give you a bank check instaead) Any advice would be appreciated!!

-- Sue Landress (Sulandherb@aol.com), November 11, 1999

Answers

My plan is to continue as I usually do. I make a copy of all checks in a deposit, plus the deposit slip, and save it on a Zip drive. That way, I've got the money "in the bank" and evidence of what was deposited. Absolutely no guarantee that this will do any good, but I think it's about as good as possible given all the unknowns.

Holding the checks would not be a good idea, in my opinion. If the customer's bank is going down the tubes, you want to get your money out as quickly as possible. As for cashing the checks, I don't know of any bank that will cash a business check. When I want cash, I deposit the checks and bring along a check made out to myself for the amount.

-- Stephen McGehee (scm@adjutant.com), November 11, 1999.

Deposit checks immediately, after photocopying them. If you can't get cash, immediately pay bills. Photocopy those checks, too. Or, use the money in the bank to buy useful and necessary stuff you use in your business/home. Keep receipts for purchases!

-- seraphima (seraphima@aol.com), November 13, 1999.

Send your bills out early and give your customers a good discount for paying early. Get your money deposited and recorded on the banks,s registry. And of course, if you need the money, get it out as soon as you put it in. A bank check can be cashed easier than your customer's check.

-- jackie clark (clark@charm.net), November 15, 1999.

We'll be depositing as rapidly as we can...and prepaying bills as early as possible...

-- Mad Monk (madmonk@hawaiian.net), November 15, 1999.