This New Online Tool Creates a Picture of Your Cash Flow
“No decision has been taken on where the account will be opened, but there is some http://www.homebusinessproductreports.com/investing/investing-memberships/the-elevation-group/ understanding ICICI Bank will handle the cash flow through the escrow account. The details of the arrangement and how the account will function are yet to be worked out,” said a banker. The designated bank will monitor the cash flows and use its discretion while releasing payments to fuel companies, lenders and aircraft maintenance companies. “The idea is to ring-fence the cash flow to avoid defaults. The bank managing the cash flow will share the transaction details with other lenders so there are no rifts among the banks,” said the person. Industry circles think the move may be a prelude to a corporate debt restructuring programme where lenders jointly decide to reschedule loan repayments and lessen the borrower’s burden.
Banking: Cash flow problem
As a result we are seeing some great returns on term deposits. But the best rates will vary among different institutions so investors have to swap and change if they want to continue earning the higher rates. While $10 may not sound like a lot, it does mean that interest earned in the first four days on a $15,000 term deposit at, say 6.5 percent, is interest lost because youll need that money to pay for a bank cheque when you want to take it out again. According to financial analyst Peter Arnold of Canstar Cannex, youre more likely to find a credit union or building society offering free bank cheques at maturity of a term deposit than you are from a bank. The good news for Jane is that by speaking up she avoided the $10 bank fee because the Bank of Queensland was willing to match their rivals higher rate.
The tool puts all your financial interactions in a single format and tracks each transaction telling you where money is coming from and where its going, the company says. It has three main features: Payables PNC Banks Deputy Manager of Business Banking Troy Baker explained in an official release : We recognize the challenges our small business customers face, finding the time and resources to effectively manage their money. With these enhancements to Cash Flow Insight, business owners can stay organized and focused, as well as manage and forecast cash flow to make strategic business decisions in one place online. Rather than having a desk full of unorganized paperwork, Cash Flow Insight uses a single online dashboard to display all of your interactions. PNC says Cash Flow Insight can sync with accounting software small businesses already use. The PNC website claims it is compatible with: QuickBooks for Windows Microsoft Money Microsoft Office Accounting PNC says Cash Flow Insight can also speed up your receivables by creating invoices that your customers can pay online.