CFO Simplified

NOVEMBER 28, 2022

The President of CFO Simplified, Larry Chester , shares the importance of inventory value reports with us. . What is the Inventory Value Report? An inventory value report is a financial report that lists the value of a company’s inventory at a specific point in time. And are you tracking that?

General Ledger

Future CFO

AUGUST 1, 2023

This highlights the demand for financial risk management and expense tracking capabilities in financial applications to identify current risks, prioritise profitability, eliminate the paper trail, and reduce administrative effort. This can be time-consuming and lead to errors when handled manually.

Invoicing

The Charity CFO

FEBRUARY 4, 2022

Bookkeepers lay the foundation for the accounting processes that will follow. They organize the data and ensure accuracy so the accountant can create reliable and timely financial reports. It’s like having an in-house team dedicated to your organization, without the overhead cost of a full accounting department. .

Nonprofit

CFO Simplified

AUGUST 21, 2022

Bank fatigue might mean that your bank feels like: Your financial reporting isn’t getting done on time. Your financial reporting is inconsistent. This means you need to have additional inventory to support sales. The bank will not be concerned if you’re turning inventory over quickly through sales.

Banking

CFO Simplified

APRIL 8, 2022

Sales – $17,000,000. The office manager controlled the company’s financial operations. She did payroll, accounts payable, invoicing and cash receipts. Take the three primary cash responsibilities—accounts payable, accounts receivable, and payroll—and cross train others so that they can take over if needed.

Accounts Payable

CFO Plans

SEPTEMBER 3, 2021

By Casey Gillam, Sales Manager @ CFO Plans Inc. Realizing he did not want to spend his time worrying about the daily back-office tasks such as accounting, accounts payable, and payroll, Alex met with CFO Plans to see if they could offer a solution to his pain points. Consider the struggles of the lives of your ancestors.

CFO

CFO Simplified

FEBRUARY 17, 2022

Sales – $45,000,000 annually. The business’ part-time CFO was providing financials that didn’t match the reports they received from their accountant. Since the owners weren’t drawing large salaries, and sales were increasing, questions arose as to the actual use of cash and the company’s profitability.

Accounting

CFO Simplified

APRIL 15, 2022

There are two major issues here: (1) how do you decide when something becomes obsolete and (2) how do you price it for quick sale? Sales – $10,000,000. Unfortunately, financial reporting had been inconsistent, so the owners wanted help putting together a set of financials that the bank would accept.

Profit and Loss

CFO Share

NOVEMBER 3, 2023

As a business grows, so do its financial intricacies. It’s common for many small business owners and finance directors to handle accounts receivable, accounts payable, and other financial tasks themselves in the early days. However, as the business scales, this can become overwhelming.

Invoicing

CFO Simplified

APRIL 15, 2022

The problem arises when the actual costs are different than the ones that are being “understood” by production staff, estimating, and the sales team. Sales – $19,200,000. Current financial staff consisted of an accounts payable clerk, an accounts receivable clerk, and an accounting manager.

Profit and Loss

The Charity CFO

FEBRUARY 8, 2023

If your nonprofit sells an asset at a price that is lower than the asset’s book value, there was a loss on the sale of the asset. Simply stated, a decrease in accounts receivable means there was an increase in cash, so you add this value back in. Do You Struggle to Make Sense of Your Financial Statements? Get the free guide!

Nonprofit

CFO Simplified

APRIL 22, 2022

Upgrading simple accounting software to an ERP (Enterprise Resource Planning) system that is going to manage every aspect of the company from operations to accounting and finance, and sometimes even sales and customer relations is no small task. Sales – $15 million. Business – Industrial seating manufacturer.

General Ledger

CFO Share

MARCH 23, 2021

Good rolling forecasts can be easily updated with the most recent financial and sales data, creating instant insight into business trends. Sales forecasting is the foundation – and most difficult part – of any forecast. Instead, we recommend performing an analysis of your sales and marketing funnel with a model to match.

Forecasting

The Charity CFO

MARCH 27, 2024

Features like class tracking and fund accounting can help you accurately record revenue and expenses. Additionally, you can configure your setup to focus not on sales tracking, but on donations or grant funds tracking. While the standard reports from QuickBooks may not meet the needs of all nonprofits, Fathom bridges the gap.

Nonprofit

Spreadym

JUNE 19, 2023

Monitor Cash Inflows: Track all sources of cash inflows, such as sales revenue, investments, loans, or other income. This can include negotiating better terms with suppliers, exploring alternative financing options, improving inventory management, and maximizing sales revenue through effective marketing and sales strategies.

Cash Flow Forecasting

BlueLight

JULY 30, 2020

The financial implication of these decision is critical and the CFO is the executive helping the CEO navigate these decisions. Historically, the CFO role was focused on backward looking information: ensuring on-time and accurate financial reporting. This problem seems to reside mostly with sales.

CFO

CFO Talks

MARCH 19, 2024

For example, explaining to the IT department how investments in AI technologies will support their digital transformation goals, or illustrating to the sales team how enhanced financial analytics can lead to more effective pricing strategies. Fostering Engagement and Buy-In Effective communication is just the start.

CFO

https://trustedcfosolutions.com/feed/

FEBRUARY 13, 2023

Without the accurate oversight of revenue, accounts payable, inventory, and billing, a business could go from burgeoning to bust. A controller acts as one of these key players, routinely analyzing and monitoring a company’s financial standing.

Accounts Payable