Category Archives: Accounts Receivable

Guide to QuickBooks [EVENT]

Cal State Fullerton’s Mihaylo College of Business & Economics and the SBDC
are partnering to offer a Hands-On Beginners Guide to QuickBooks session. Learn how to be  more efficient and simplify your bookkeeping using QuickBooks Accounting Software. This seminar will demonstrate functions useful for daily operations in your small business. Items
covered:

  1. Introduction to Financial Management
  2. Why Accounts are Important
  3. Getting Started with QuickBooks
  4. Managing Sales & Customers
  5. Managing Expenses & Vendors
  6. An Overview of Reports
  7. Next Steps…

To RSVP please go here: https://goo.gl/znvXcy Continue reading

Accounting Help from a CSUF Consulting Team

Everywhere you look sales are down, budgets are tighter and almost every company is looking for a new way to compete in this tough market. While there is no simple solution one of the most important aspects of any successful business (especially during these times) is to have the appropriate financial systems in place.

Without the correct financial controls your company could potentially be losing a lot of money. Here are some of the symptoms of poor financial controls:

  • Too many unpaid invoices
  • Out of control debt
  • Poor credit rating
  • Inability to expand operations
  • Trouble with the IRS

Those problems and many others just like them can be avoided by implementing a robust system of financial controls. Intuitively, you may know that this is the case and that if you had enough time you could improve your company’s fiscal stability. But you don’t have enough time to do all the research necessary to figure out what systems you need for your business so you haven’t tackled this problem yet.

Fortunately, that is where CSUF’s Student Consulting Program comes in. Our students provide a perfect solution for any company that wants to improve their financial situation. Each team brings to the table a wealth of knowledge that can put any wayward business on the right path.

Furthermore, each Student Consulting Team is lead by one of our excellent professors and a coach with many years of experience in the private sector. Student Consulting Teams can bring forth many new ideas for your business and with these ideas you will finally have the means to bolster your financial situation.

For a nominal fee you will receive access to a bounty of fresh ideas that will give you an edge over your competition. If you want to have a financial advantage please contact Ms. Charlesetta Medina by phone at (657) 278-8243 or by email at cymedina@fullerton.edu for more information. You can also learn more about our program here.

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Need help With Creating Financial Controls?

Need help with creating financial controls and better accounting practices?

Have CSUF student consulting help — they can do the things that you have wanted to do but have not had the time to do.

Student Consultants are standing by.

Contact Cymedina@fullerton.edu

Travis Lindsay
Center for Entrepreneurship


Managing Accounts Receivable in a Down Market

In today’s economy one of the most challenging issues is collecting on outstanding debts. Many companies are just in survival mode, stacking one bill on top another, and yours is at the bottom of the pile. If your small business is anything like mine, you probably don’t have the resources to hire personnel for collections, short of a baseball bat. In all seriousness though, if hiring another employee is out of the question, consider deputizing an existing employee to call your customers for 3 purposes:

1) Follow ups

2) Try and get return orders

3) Collections

In a small business the efficient use of existing personnel for collections of accounts receivable can make a world of difference. A business owner I know, with a little coaching, started having his delivery runner make calls in his downtime and was amazed at some of the sales he made, and people he was able to collect from.

As a naive business owner, I was seeing my accounts receivable grow, proud of myself on the sales I had accomplished. Not realizing you haven’t made the money till you get paid and cash is king. There is a saying for this I have now come to understand “one in the hand is better than two in the bush”.

Andrew Baker

CSUF Entrepreneurship Graduate