You Don’t Have a Cash Problem You Have a Financial Management Problem | Moshe Bochner x David Korn

Yeah, welcome back. Please subscribe. We're getting there. We're moving. So, so we talk a lot and the bookkeeping industry in the financial industry competition we work a lot together and yeah so we spoke I get the service I had I get the bookkeeping and back office um some shared clients in the past and knowledge cash flow bookkeeping and so I felt he's the right guy to bring up and bookkeeping topic and let's dive in and let's take it from there. Oh, very nice consulting consulting financial management. Yeah. >> Okay. So, and what do you question structure and process for the sales and operations financial reporting, invoicing, usually collections, payroll, cash flow forecasting and the tax accounts insurance. >> Very nice. in you call it as bookkeeping management. >> Financial management is more back office or or >> Okay. Back office and bookkeeping how I look at it and everybody looks at it differently. bookkeeping proactive bookkeeping after the fact bookkeeping and there's accounting bookkeeping. Okay. >> Proactive do after the fact as well versus let's say finance bookkeeping bookkeeping and after the fact >> let's say so we'll discuss it in more in detail do back office that how I look at it this is AP AR billing invoicing insurance how is financial management which is a back office back office some reason yeah thank you socially construction construction industry. So I got a liking to it. Anything else was related in sales calls um anything was initial related to >> finances phone calls scheduling um these type of things. >> Got it. So it's financial management in SLback office. So anything collections. Um let's go to second booking. Thank you. I appreciate it. mention >> and I want to go into this conversation for a few minutes [clears throat] as the concept is I see it over and over again sad reality um in mention The best about. [gasps] So the question is what do you say to that? Let's go. Let's dive into this. >> So conversation obviously. Yeah. So number one from the other side we help business owners means the results correct me but you know especially in finance you know. So number two is financials. Let's call it taxing. Um, credit for suppliers. >> Yeah. Okay. customers [snorts] I do that good people are important. Um, so, so the point is I get to bring so [clears throat] box. Um, okay. is a two-edged sword. Meaning to say, including me, by the way. Got a credit card available cash. $50,000,000,000. You can't help someone without their numbers. >> Correct. So number one and a company up whatever the number is but let's call a solreneur if you want to build a business you want to build a healthy business you need to have rapper box they do 100% there's no two ways about it then the mentions gave um push back of I feel bad for you, but it's a it's a reality >> and anyone So that's basically the concept. Um, a business obviously family times. >> You got to be ready. >> Correct. It takes time. It's not easy. deal with clients arbittors decisions and you know well at the end of the game the CEO of the CEO of a company bookkeeper salesman collections guy manager if any problem happens anything that it comes back to his desk >> 100% business any owner. Finish the point. No business. telephone 100% wellch. eventually to framework. >> Yeah. Um, I want to discuss something something that we probably both see in let's go to owners $50,000 business $50,000 $45,000 What would you say? Okay. Question and I'm very passionate topic. jobs. Business is profitable. business, right? >> Yeah. They said they said this extreme level which discusses itself. It's you know we can we can go into it economist but um um but okay especially in the city black and white but that's Florida probably expert. Um the question is okay. So I acknowledge status which is very popular. [snorts] But the point is the point is um okay business you know emotions that So has to figure it out. Number one. Number two is a secret. I made one of the best decisions in my life. 2017. It's a some reason for the exit from the exit 1479 The founder, very great old friend, childhood friend and very good broker. appointment $420,000 can afford the reason is Foreign the dead company. Whatever. What is the solution? Okay. Okay. So the way I see it ision the fact you cut it down. minimum correct is a conversation of itself. No more budget. Necessities especially business paid off in the businessation. The point is business. You have to figure it out. basically the the right answers the short answers cash flow cash flow. issue in my professional opinion as the main issue for cash flow is interact system and I get the payroll system. Does it make sense? It makes sense in general lines of credits and do the tools. >> Correct. Correct. >> Which you should go to a professional figure it out. Let's talk regular business. owners. Adobe payrolped business and especially business that was struggling with cash flow especially in the beginning. the business owners get. But the fact is so opposite effect on basic expenses. This is the profit cash flow. Number two is the details. But again, it all goes down to get books. I get the get the financial management. That's what that's correct. That's correct. >> Part of it is books and part back all the problems. CL the first step is to finish the point in cash business inventory business credit certain business have a line of credit invoice% deposit for For some reason, the plumber scroll YouTube see whatever. Good for him. box. Whatever. Day one, day two. some reason to $5,000. It's not a lot of money. There's a minimum concept invoing. This is the concept. This is not the way in workers comp insurance cover based off payroll based off% based off the class in based the price $10,000. >> Okay. documents, complicated minimum after the fact, point. Let's go to the posit which is a good thing. Booking mention delegate topic. Okay. Thank you so much. taxes 10x is easier than 2x let's go for a second let's have this up deposits what do you say deposits it's very simple Mind guides disciplined mention 50% deposit deposit Number one discipline change and respect of the bookkeeper. Number one, usually status. It's a longer conversation, but I want to hear your two cents on it. Basically, the concept is thousand organizations millions of dollars. What's what's your perspective on it? So this is a controversial topic. First respect for any a need to help in the community. So there's no disrespect to anybody in the financial industry. No disrespect to anybody. I respect everybody need for financial transparency. Any financial mention especially the health organization calls 247 Correct. form the public records top four five highest paid employees exclus Today church is exempt found this mindan accountability organizations usually designated churches accountability. Exactly. This is the problem solution expenses bonuses. Sorivrivally ordered the books. Get is important. you know my business whatever. So whatever the under director so ideas% Like, commentation financial financial manager. Um, Clover Consulting is is doing a good job. Reach out to appreciate it. It's a pleasure being here. >> [music]