Leroy owns a landscape company and was trying to avoid debt and payables, so he only used cash for his purchases. He was exhausted from juggling money around to pay his utilities, rent, payroll and materials for new jobs. Everyone was getting paid in his company but him.
What Leroy doesn’t realize is that every new customer he took on, he was giving them a loan in order to complete their job. Usually he even got 50% down up front, but that just doesn’t last until the job is complete when you have all of those things to pay for before completion. He was upside down in his company.
Foundation Accounting & Consulting worked with Leroy to help him understand his predicament and then developed a strategy going forward to keep his bank account balance in the black. Foundation is willing to come to your office and meet with you for free–they will even answer any QuickBooks or bookkeeping questions you may have while they are there, again, for free.
Contact them today by phone, email or text to schedule a time for them to come visit your office.
Jeremy Lott Cash Flow Consultant 801-440-4540 Jeremy@FoundationACS.com https://FoundationACS.com