Accounting and Budgeting

RE: Accountant in a Box

prestopink — Mon, 08 Jun 2009 14:10:12 GMT

To SBOCTeam: For someone who has no idea how to do their own accounting or even where to begin, how easy are these softwares to use? In particular, I am thinking of the needs of new entrepreneurs, especially young entrepreneurs, could they use a readily understand these products?

RE: What�s the Best Way to Pay My Bills?

solidcactus — Tue, 23 Dec 2008 05:29:19 GMT

This article is very true. Bank of America has some of the best small business banking I have ever experienced. I recommend using online bill payment through the Bank of America web banking, and scheduling the payments based on your expected cash flow.

Joe P.
http://www.solidcactus.com

RE: What�s the Best Way to Pay My Bills?

sejallc — Mon, 22 Dec 2008 19:13:03 GMT

very true

RE: Cash Flow and Accounting

southernman — Tue, 25 Nov 2008 00:05:32 GMT

great article will take this system but convert it to cover each job(i'm in construction) to chart the daily in and out cost of each job...Thanks a Lot.

RE: Cash Flow and Accounting

mikanui — Thu, 13 Nov 2008 01:03:56 GMT

This is a good starting point for new businesses to see whether they are in the green or not. If you don't track what's happening, you will lose track of everything and end up with nothing. It really goes along with your business plan. If you can show that you have a projected revenue stream that seems realistic, (this goes along with your market research and target marketing plans) then you have a great tool to provide your banker or investor to show them as the article says that your not pulling numbers out of the air. You are in fact prepared to account for the true revenue as it pertains to your new or even existing business.

Many times when you have an investor looking at your company they want to see what has been in the past and they want to know if you have a plan for the future. Being able to provide this information in a simple format will make it easier for them to make an educated decision. Do your best to be conservative on your numbers. You don't want to make it seem "to god to be true". This generally scares of investors and bankers alike. Be a close to reality as you can and be prepared to show how you intend to make use of funds to promote your business and grow its revenue stream enough that your company is seen as a "low risk" and not a high one.

Good luck!

RE: Accountant in a Box

fl_bizowner — Wed, 24 Sep 2008 14:48:13 GMT

Nice overview but thgis is available online.

RE: Get Whats Coming to You

fl_bizowner — Wed, 24 Sep 2008 14:46:52 GMT

Pretty basic but nice overview.

RE: Get Whats Coming to You

designer — Wed, 04 Jun 2008 13:19:41 GMT

I think everything goes back to "knowing" your customer. If a supportive, repeat client owes you money - - -you can be a little more patient and tolerable vs. a first-time client who doesn't have a good track record. As long as you "know" the person that owes you money and you may "know" where they work and live...you really don't have anything to worry about. They will respect you more for giving them a grace period and some breathing room, instead of badgering them and on their back. I guess it would also depend on your business as well....a piece of jewelry is a lot different than a $800 fee or service.

RE: Get Whats Coming to You

KZPdesign — Tue, 03 Jun 2008 21:33:57 GMT

Dealing with customers that owe you money is never fun, especially if you have to consider options like a collection agency. Before you resort to that, try this -- be a pest. If someone owes you money, and seemingly refuses to pay, CALL THEM. Email them, send them a letter. Show up in person. Then call them again. A constant reminder will generally be all they need before you resort to court, threats, or collection agencies. Sometimes people just need that extra motivation, and leaving 1 message on their voicemail won't cut it. This tactic also is much less offensive then something more severe, which is beneficial for all involved. Good Luck Entrepreneurs

Anthony Haase
KZP Design Services
kzpdesign.com

RE: Get Whats Coming to You

MrCPA1 — Wed, 07 May 2008 22:07:47 GMT

Good advice!!

I would like to add another thought.
To keep your business cash "flowing" many businesses are tapping into their credit card receivables. It's easy to get a CASH ADVANCE if you accept credit cards. It works like the age old FACTORING of RECEIVABLEs. It's easier than a bank loan.

Joe
718-692-CASH
www.businessloansfast.net