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.
The Business Bank of Texas has long believed in helping area businesses by providing high quality free business education.
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Last fall, financial services industry research firm, Greenwich Associates, conducted a survey of small-to-mid-sized businesses across the United States. The goal of the survey was to determine overall satisfaction level of these businesses with their existing banking institutions. A surprising number of business owners indicated their intent to put their banking business out for bid. Where historically the number of businesses changing banks hovered somewhere around 10 percent, almost 60 percent indicated they intended to make a change in 2011.
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.
Ladd Roberts may be new to the Business Bank of Texas but my working relationship with him goes back to 1987 when he joined Security National Bank of San Antonio, where I was the President. Ladd and I worked together until 2000 when Security National was acquired by another bank. In November 2010 I had the good fortune of recruiting him to head up our banking initiatives in San Antonio.
In October 2010 Business Bank of Texas hired DJ Lewis as a Senior Vice President. DJ was recommended to me by two friends of the bank.
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.