RuthKing

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RuthKing

RuthKing

@RuthKing

Profitability Master, Serial Entrepreneur, CEO Profitability Revolution LLC, https://t.co/rlVpzHTakt, best selling author, marathon runner, photographer

Atlanta, GA Katılım Aralık 2008
2K Takip Edilen1.9K Takipçiler
RuthKing
RuthKing@RuthKing·
Lead generation numbers are trending down – both for Big Box In-Store generated leads and traditional advertising methods.And, today’s millennials and Gen Z shop differently than other generations podcasts.apple.com/us/podcast/con…
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RuthKing
RuthKing@RuthKing·
Make sure they are legitimate. Did you check your bank accounts on line today? This is the first step in protecting your hard earned cash. Get your free P&L and Balance Sheet Review: keap.page/rk139/ffb-uplo…
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RuthKing
RuthKing@RuthKing·
When he dug deeper, he found that the accounts receivable clerk stole more than $100,000 over the time period she was there. Always get your financial statements on time AND look at the journal entries with the financial statements
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RuthKing
RuthKing@RuthKing·
It looked right. Then he compared the accounts receivable on the aged receivables list to the receivables stated on the balance sheet. That was right too. Something just didn't add up. He had to dig further. He reviewed the journal entries for the months.
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RuthKing
RuthKing@RuthKing·
Other times they couldn't pay all of their vendors on time. This didn't make sense given the amount of cash that was coming in the door. He couldn't figure out what was wrong. Following my rules, he asked to see an aged receivables list.
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RuthKing
RuthKing@RuthKing·
“Where Did the Cash Go?” A business owner had an employee who was responsible for accounts receivable. Her job included calling customers when receivables were not paid on time.
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RuthKing
RuthKing@RuthKing·
However, he did watch cash coming in the door. He did watch the accounts receivable balances and was told when large checks were received. Despite the checks coming in, cash was always tight. Sometimes the company just scraped by to make payroll.
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RuthKing
RuthKing@RuthKing·
Many times the owner was looking at them three or more months later. (January's financial statements were ready in April). So, he didn't have a good grasp on the accounts receivable balance on the statement because it was from a few months ago.
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RuthKing
RuthKing@RuthKing·
Every month the company owner printed out an aged receivables list and kept track of who owed the company money and how much of it was current and past due. Unfortunately the company didn't always get their monthly financial statements in a timely manner.
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RuthKing
RuthKing@RuthKing·
Are You Afraid to Fire an Employee Now That It's Busy? Subscribe to my Newsletter tinyurl.com/2ylrqtdf
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RuthKing
RuthKing@RuthKing·
I will be speaking at the very first Woman in ASHRAE Leadership Symposium! The dates are Thursday Sept 26th starting at noon until Friday Sept 27th at The Westin Michigan Ave. Chicago @ashraenews ashrae.org/conferences/to…
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