Finance & Accounting Bloggers

Factoring and Cash Flow Management ...

Factoring leverages your customer's credit. This is important if you need fast cash and you don't have assets to pledge to a bank. (e.g., IT services, janitorial, Staffing Services, etc.)

My recommendation is not only to get cash quickly, you should look at your cash flow management processes to keep more of your own money flowing as possible.

Here's a blog post on the cash flow management process:
http://donaldhunterfinancial.com/2009/11/17/discover-how-to-avoid-titanic-cash-flowtm-disaster-before-it-strikes/ ...

Account Numbers in QuickBooks ...

QuickBooks permits the use of account numbers for their chart of accounts, and this can be turned on or off at the user's discretion.
My problem is trying to find a way to automatically pick my own sequence of numbers. I find it ludicrous that QB automatically assigns numbers in the 10000 plus range (5 digits). This is very awkward and cumbersome. Most businesses can work easily with 4 digits in their numbering system. The only way I know of to change that is to manually assign an account number to each individual account. Is there a way (like in Simply Accounting) to just click a button and select the number of digits of your choice?

Time to be Creative ...

A well written and interesting story.

A couple of thoughts.

As to Co #1 - as an alternative to a permanent equity deal maybe they can find a joint venture partner where they place the backlog orders over a specific time period and negotiate a profit split. It would have its own pluses and minuses but would allow the owner to retain their current equity in the long run.

As to Co #2 - a guess is that they may have to change their sales focus to customers outside of their normal customer base. Finding profitable companies without near term funding concerns seems to be the key.

Just guesses and thanks again for the article,

Pat Edwards, CPA
http://www.creditaides.com ...

Cash Advance ...

Qualified Merchant offers a complete line of merchant services, online merchant accounts, credit card processing, easy cash advance, advanced merchant capital, business capital solution, and more.
http://www.qualifiedmerchant.com
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What is her motive?!

Like the rest of you I realize she is incorrect and way off base about cheching your own credit score but not only that she must be intentionally lieng to everyone! The reason I say that is she throws us numbers saying he went from the mid-700's down to the 500's IN ONE MONTH just by checking his score?!?! Does she even believe what she is saying?This makes no sence at all.