Taking Notes on Trme Business

An Ad&css

The matter of taking notes on time business and having a complete understanding as to -when the account or note is to bl paid il qne that lie hate been practicing for several years, aird witt say that we are going to take more notes in the future than we have in the past'

We found that a great many people have very poor memories as to the fime that they promised to pay--an accoun! and they come in sore-if they come in at alland think thai ygu have not done what y-ou agreed. to, in the way of fraiting as long as you had promised to wait on them.

We find that when we have a note due at a specified time, and drarying ten per cent interest, and another ten oer cent for aitoineyfs -fees, that our people have better inemories,.and there-is not half the trouble in making-the r.itt"-.tti, as when the account is just on the ledgel' There does not seem to be so much material coming back, or- so many cement sacks that they can not remember to bring in, 6ecause of course' they -would not want to -PiY the account until atl of these little matters are settled for, as they would not want to trust us, in case they had overpaid us.

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Wn"n you have a note, you have prac-ticalll- a liquidated debt. Of course, you will not always collect the note when tlue; but you wifl-fail less often than in collecting the open account when due. When a customer has signed his name to a note, his memory seems to be better and conditions seem betier. for the business man with a note than the one with an open account. We have found that the man with a note gEts the first money out of the crop, or any other item thit happens to be ready to gQ on the market'

We have been piicticing taking notes for material that our customers may need -during the harvest season. It is very easy to gel a note at this time. After they have told ybu *hat J*onderful crop the-y have, besides their othei future prospects, they are ready -to make most any kind of a sett'lement to get the material they are wanting'

Here is an illustration of the above statement: During harvest a farmer sends some member of his family in for some small item, and it is placed on his open account. At the close of harvest when he begins to pay his bills, the notes are always taken care of first, and if he is a little short, he rvill ask to have the open account run a little longer. Sometimes, this open account runs for months, and-occasionallv is never collected.

We have a practice of having our notes come due some time before thi customer has started threshing, or before his other products are ready for the market'- In this way rve have i right to ask for our money' and be among the

6rst of his creditors to receive pa3rment Of course, it requires tact and diplomacy to gel {hese notes, but where we are firm in requesting notes on accounts, we arc g€nerally able to get them.

If you desiie to give a customer sixty or nincty days time'in a note witf,out interest, you may stipulate that the note is for face value only if paid on the due date. Otherwise, it will draw intereit from the due date until the date of payment. Write this special agreement on the margin oi the note, so there will bc no misunderstanding later about the interest.

In case you are going to carry tbe account on-yo-ur ledger, maik the du-e dale on yorir sales ticket, and- ilso on-your ledger, then give your customer-a -coqry of.the sales ticket so there can be no question raised about lL Try to get a note at the start ! This will save having to wiit sixly or ninety days on an open account, and-then having to tike a note'latei on, for aiother sixty or ninety days.

We had a case this vear that we believe will illustrate how a note helps in thi collecting of an acc-ount.A party wanted a bardge to harvest his crop with, and ma{9 a very nice talk, 6 we finally let him have the same,- taking his-note to be due the firsi of Aucust. This note became due b6fore he had thieshed, butlre notified him that.it was due. He came in at once and advsied us that he had not threshed but assured us that his crop was Ycry

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