We have an issue with accurate financial reporting. It’s hard to tell what’s going on with income, expenses, profits, loans, and bank accounts. I don’t trust what I’m looking at. How do I fix it? Thoughts of the Day: Accurate...
Ask Andi: We have trouble controlling inventory. Parts come in and go out from various directions. Picked up at stores. Delivered to clients or our shop. Brought in by stock trucks. Installed at clients. And sitting inventory. We could be...
Ask Andi: Our business line of credit has an annual requirement to get out of the line for 30 days. That time frame is nearing. We’re doing a lot better this year than last; it’s mostly a timing issue. I’m...
Ask Andi: How do we track business metrics? This is a critical year for us. I need to ensure accountability. Deliver what’s expected. Spot trouble spots early enough to do something about it. Get the right people to work on...
Ask Andi: We need to get a better idea of the cost to produce what we sell. We need to do more to manage those costs. What would you say to this? Thoughts of the Day: Managing cost to produce...
Ask Andi: Should sell my business? Someone has offered to buy it. I'm not really ready to get out. But I'm hearing about tax rate changes that reduce what I will get if I wait to sell until next year...
Ask Andi: We have poor cash flow and need help dealing with the bank. The next few months will be tough. Cash flow is already tight and taxes are coming up. If I had a bigger credit line to draw...
Ask Andi: We need to turn around cash flow. We're not bringing in enough to cover expenses. We're giving away too much work for free. Recently we had to dip into the credit line to stay afloat. I need to...
Ask Andi: A partner handles the role of finance for a long time. The job evolved as we grew. Now we're changing things up. We have to define what is the finance role and who does it. Any suggestions? Top...