Category: Did you know?


Posted on May 24th, by Gerard Belanger in Did you know?. No Comments

Here’s a simple, efficient and appreciated way of referring someone: provide your referral’s basic coordinates to your network contact (Person to talk to, Company name, phone and e-mail) as well as the need and the estimated time frame. And also inform your referral that you are referring them one of your contacts. You will thus help your contact to better get through and your referral to be better prepared.

And here’s the other side of the coin. When you receive a referral, there are three steps to follow.

First of all, thank the person that sent it to you and request additional information as need be: type of business, what’s their character like, the urgency of the situation.

Secondly, get in touch quickly with the referral, ideally live. Even if it didn’t look like a rush. Both parties will appreciate that you took … Read More »

Differentiating Debit and Credit

Posted on May 17th, by Gerard Belanger in Did you know?. No Comments

For certain people, like accountants, it’s nothing. For many others, it’s a pain. There are just two choices, but which one to choose?

It must be understood that there will always be a minimum of memory required. That having been said, there’s a line that works well: Revenue is a Credit. It’s the key to establishing the rest. Every time you need it. We must also know that there are two types of accounts: Revenues and Expenses on the one hand and Assets and Liabilities on the other hand. The thinking goes like this:

– If Revenue is a Credit, its opposite, the Expense, is a Debit.

– Revenues must perforce be associated with Assets; in both cases, we’re talking about gains.

– The mental gymnastic required is that for the other type of accounts, we must reverse. Therefore, Revenue is a Credit but … Read More »