PROCESS

REMITTANCE OPTIONS

HOLDING KLS ACCOUNTABLE

Kross, Lieberman & Stone maintains a non-interest bearing trust account where we deposit any payments made directly to our office. This account is periodically audited and bonded. It is from this account that we cut payments to our clients on the fifth and the twentieth of every month. Because of the differing accounting needs of our clients, we have established the following remittance options.

NET REMIT

This remittance type will relieve your payables department from having to cut checks to Kross, Lieberman & Stone. We would deduct from collections made in-house any fee resulting from those collections and also deduct any fee on accounts for which you have reported direct payment. Therefore, you never receive a bill for our services.

DUEL NET REMIT

This remittance type allows us to deduct our fees from collections made in-house but we will bill you for payments made directly to you. Our collection statements clearly reflect which accounts have paid us directly, the amount paid, our fee, and the amount due you after our fee is deducted. It also clearly accounts for payments you report, the amount of those payments and the amount due us. If you require individual invoices for your accounting department, this can be provided in conjunction with the collection statements.

CUSTOMIZED REMIT

Tell us what you need; we'll try to work with you if you have particular accounting needs. Whether it's uploadable payment files or a special day you need remittances, Kross, Lieberman & Stone is anxious to work with our credit managers to assist in making their jobs easier.


Although we would like to individually meet every client's remittance needs, our specific payment options and remittance timetable, ensures that your debtors' checks have cleared our accounts and that you will have no questions as to when you will receive payment on those collections.

Please note: We reserve the right to ENDORSE CHECKS made payable to you and deposit them into our trust account. We also expect you to endorse and deposit those checks that might be made payable to us but paid directly to you. This allows the collection process to proceed more smoothly. Thus, we are not waiting for you to deposit checks we have had to mail to you for deposit, and then wait for notification that the check has cleared and vice-versa.