Quick tips on cleaning up your Accounts Receivable

by Lillian Aaron

Accounting Software Consultant, Porte Brown CPA

Lillian is a business adviser with more than 30 years of experience assisting small to medium businesses prosper by selecting the correct business accounting tools based on their specific needs. Her specialty is in process workflow—helping companies gain efficiency in their operations. Businesses seek her help when they have outgrown their basic accounting systems and are ready for a customized, robust solution that is still affordable. Lillian is an expert in a number of systems including Traverse ERP, Open Systems, and QuickBooks Enterprise and Method CRM. Specialties: Traverse Accounting Software, Open Systems Accounting Software (OSAS), QuickBooks Enterprise, Method CRM Her clients say, “Lillian is my go-to person when it comes to accounting software. She has a deep knowledge of available options and takes time to understand the needs of her clients,” “I found her to be of the highest integrity and extremely knowledgeable,” and “She is always willing to go the extra mile to make sure that her clients get exactly the solution they need.”

Wanting to get a jump on preparing for year end? Here are a few suggestions on cleaning up your Accounts Receivable Aged Trial Balance before the year-end crunch begins:

Topics: Operations, Featured, Business Best Practices, Blog Posts, Accounting & Finance

The Future of Cloud Computing

by Tommy Wald

White Glove Technologies

Tommy Wald is CEO of White Glove Technologies, a leading IT services firm based in Austin. Wald regularly speaks to Austin professional associations regarding developments in business and computing. He lives with his wife, Michelle, a bodyworker and painter, and his daughter, Sasha, age 9, and son, Devon, age 6. Wald enjoys time with his family and also plays saxophone in a local blues band. A Temple, TX native, Wald began his college on a music scholarship at Temple Junior College before transferring to the University of Texas at Austin. After graduating from UT with a business degree in Accounting and MIS, Wald joined the accounting firm of Peat, Marwick, Mitchell & Co, now known as KPMG, as an Information Systems Consultant. He parlayed this experience into independent consulting before starting a computer backup service company which grew into NETForce Technologies in 1995 and into RIATA in 2001. In 2010 RIATA merged with White Glove Technologies which resulted in creating one of the largest Managed Services Provider in Texas and the US.

We've all heard about how cloud computing is supposed to revolutionize everything, but how exactly will that work? What are the risks involved with giving your data over to another company? Which companies are leading the charge into the cloud?

Topics: Operations, Technology

Virtual Teller can save time, money and improve business bookkeeping

by Ed Lette

Business Bank of Texas

Ed Lette is Founder, Vice Chairman of the Board of Directors at Business Bank of Texas. Serving as a licensed CPA since 1983, Ed’s extensive experience in the banking industry has led him to become the founding president of four national bank charters including Business Bank of Texas, N.A., and the chief financial officer of five national banks during his 45 year career. Ed serves as director of the Texas Bankers Association District 4, chairman of the Executive Advisory Council to the School of Business at Texas Lutheran University, and is a life member of the Texas Association of Business.

The Business Bank of Texas offers all of its deposit customers free of charge Virtual Teller. Sometimes called remote check capture, or remote deposit capture, Virtual Teller is a tool that helps businesses increase productivity while decreasing the costs associated when making bank deposits.

Topics: Operations, Featured, Blog Posts, The Corner Office, Accounting & Finance

What is allowance for bad debt and should I show it on my business balance sheet?

by Ed Lette

Business Bank of Texas

Ed Lette is Founder, Vice Chairman of the Board of Directors at Business Bank of Texas. Serving as a licensed CPA since 1983, Ed’s extensive experience in the banking industry has led him to become the founding president of four national bank charters including Business Bank of Texas, N.A., and the chief financial officer of five national banks during his 45 year career. Ed serves as director of the Texas Bankers Association District 4, chairman of the Executive Advisory Council to the School of Business at Texas Lutheran University, and is a life member of the Texas Association of Business.

If your business sells to other businesses and you are an accrual basis bookkeeper, it may be advantageous to show an allowance for bad debt on your company’s balance sheet.

Topics: Operations, Management, The Corner Office, Accounting & Finance

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How to manage inventory purchases and increase cash flow

by Steve Dyer

North American Business Consultants

Steve Dyer, a reformed nuclear power plant operator, is a business consultant and traveling small business hacker who loves hanging out at the country club, either playing golf or enjoying good bourbon. Always aiming for the best and the highest, his handicap is 36, as high as handicaps can go. When he is not under a tree or in a bramble looking for his errant golf ball, he can be found using his gift to make the complex simple. Yes, he finds time to educate MBA and Master level professionals how to how to run a business – business 101 – even without a college degree of his own.

What is an ‘Open to Buy’ system?” is a question I hear regularly from people before we start working together. A few others have exclaimed, “My retirement plan is my inventory.  When I sell all of this inventory, I will be able to retire!

Topics: Operations, Featured, Business Best Practices, Accounting & Finance

The 7 focal points for all great managers

by Steve Rosebaugh

Steve Rosebaugh Consulting

Successful, high performing teams are guided by well-tuned and motivating managers. Now a best-selling author on Amazon.com, Steve Rosebaugh has managed and led high performance teams for more than 20 years, guiding his organizations through transition and challenge while bringing results during the most difficult of times. His experience is changing the lives and results of his clients today. An engineering graduate of the University of Illinois, Steve Rosebaugh has experience managing change in both technology and business. With a strong diversity of business experience within the complex semiconductor industry, Steve’s background includes design, product engineering, manufacturing, quality, product management, and marketing. Steve also has international experience having spent three years in a large manufacturing center in Kuala Lumpur, Malaysia. Working in both small and large companies, Steve has been successful in many functions, including: key account management, project management, conflict resolution, and operations management. He has been recognized by leading customers and has also been published both domestically and internationally in well-known industry publications. Steve lives in Austin, has been married for over 30 years, and has three grown children.

I believe a reasonable argument could be made that the senior leadership in every great business are people who are also excellent managers. Their ability to manage superior results through other people is exactly why they are seen as leaders and are promoted to the highest levels of an organization. These managers are consistent and relentless in focusing their attention around key result areas.

Topics: Operations, Featured, Business Best Practices, Management, Blog Posts

Austin, San Antonio once again make Forbes “top” list

by Leslie Thacker

Business Finance Solutions

Leslie Thacker is the Managing Partner of Austin Texas-based Business Finance Solutions. Leslie has over 20 years of general business experience, including ten years managing the marketing, sales, and projects for financial services including bank lending programs and electronic data interchange programs for small businesses. She has served as a consultant to several banks and a small business investment company (SBIC). Her role in Business Finance Solutions includes assisting small and mid-sized businesses obtain working capital financing, equipment leasing, and leveraging other assets for working capital. Before entering the financial industry, Leslie was the publisher of a business trade publication in Corpus Christi. She also has an extensive background in inventory control and merchandising. Leslie is passionate about helping business owners, managers, CFOs, and operations personnel obtain valuable practical business training. In March 2009 she started a highly successful Austin based Meetup group. Each month she has arranged a respected speaker to present a finance or operations topic of interest to the group. There are now approximately 180 members of the group. Leslie also volunteers time at the Texas State Small Business Development Center, assisting with educational programs and the center’s marketing program. When not helping businesses find financing and practical educational resources, Leslie spends time in her garden growing antique roses.

Austin, San Antonio and other cities in Texas have ranked high on numerous lists for places to do business and quality of life in recent years. A June 6, 2011 Forbes article ranks Austin as the top city in the country for future population growth. San Antonio is ranked forth, Houston fifth, and Dallas seventh.

Topics: Operations, Featured, Labor & Employment, Strategic Planning, Employee Benefits

Central and South Texas businesses can benefit by being NACM members

by Ed Lette

Business Bank of Texas

Ed Lette is Founder, Vice Chairman of the Board of Directors at Business Bank of Texas. Serving as a licensed CPA since 1983, Ed’s extensive experience in the banking industry has led him to become the founding president of four national bank charters including Business Bank of Texas, N.A., and the chief financial officer of five national banks during his 45 year career. Ed serves as director of the Texas Bankers Association District 4, chairman of the Executive Advisory Council to the School of Business at Texas Lutheran University, and is a life member of the Texas Association of Business.

If your business grants trade credit to other businesses in Texas, joining the National Association of Credit Managers of Texas (NACM) can afford you valuable business credit information as well as discounted access to other credit bureaus such as D&B, and Experian Small Business Information. NACM of Texas is an affiliate of the larger national non-profit association.

Topics: Operations, Featured, Management, Blog Posts, The Corner Office

Performance ratios business owners should understand

by Ed Lette

Business Bank of Texas

Ed Lette is Founder, Vice Chairman of the Board of Directors at Business Bank of Texas. Serving as a licensed CPA since 1983, Ed’s extensive experience in the banking industry has led him to become the founding president of four national bank charters including Business Bank of Texas, N.A., and the chief financial officer of five national banks during his 45 year career. Ed serves as director of the Texas Bankers Association District 4, chairman of the Executive Advisory Council to the School of Business at Texas Lutheran University, and is a life member of the Texas Association of Business.

Business performance indicators are critical for business owners to understand. They are a measure of how well the business is using their assets to generate income as well as how well management is performing. Although there are a number of performance indicators; return on assets, return on equity and times interest earned are several of the most important to understand.

Topics: Operations, Featured, Management, Blog Posts, The Corner Office, Accounting & Finance

Leverage your time - 2 powerful management techniques

by Steve Rosebaugh

Steve Rosebaugh Consulting

Successful, high performing teams are guided by well-tuned and motivating managers. Now a best-selling author on Amazon.com, Steve Rosebaugh has managed and led high performance teams for more than 20 years, guiding his organizations through transition and challenge while bringing results during the most difficult of times. His experience is changing the lives and results of his clients today. An engineering graduate of the University of Illinois, Steve Rosebaugh has experience managing change in both technology and business. With a strong diversity of business experience within the complex semiconductor industry, Steve’s background includes design, product engineering, manufacturing, quality, product management, and marketing. Steve also has international experience having spent three years in a large manufacturing center in Kuala Lumpur, Malaysia. Working in both small and large companies, Steve has been successful in many functions, including: key account management, project management, conflict resolution, and operations management. He has been recognized by leading customers and has also been published both domestically and internationally in well-known industry publications. Steve lives in Austin, has been married for over 30 years, and has three grown children.

What makes some managers so much more effective than others? There are a number of potential answers, but the best responses have to do with leverage. Managers need to be experts at achieving results through other people. And while they have budgets and relationships they can leverage, their ability to leverage time is a constant, daily concern.

Topics: Operations, Featured, Business Best Practices, Management, Articles, Human Resources

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