RuthKing

Profitability Master, Serial Entrepreneur, CEO Profitability Revolution LLC, best selling author, marathon runner, photographer

[RuthKing @RuthKing]

Please subscribe to my podcast Contractor Cents. Discover ideas, tactics, news, & information that matters to your contracting business.

https://t.co/TJ7PzocJSu

It is available on iTunes, Podbean & Stitcher Radio
#Podbean #podcast #PodernFamily #SmallBusiness

[Peter Winick @PeterWinick]

🌟 From demystifying financials to creating an #AITtool for small businesses, @RuthKing is redefining how #entrepreneurs grow wealth. Hear her inspiring journey on #LeveragingThoughtLeadership! 🎙️ #ProfitGuru #WealthBuilding https://t.co/JrtBPBzqKd

[Bill Sherman @BillSherman]

🌟 From demystifying financials to creating an #AITtool for small businesses, @RuthKing is redefining how #entrepreneurs grow wealth. Hear her inspiring journey on #LeveragingThoughtLeadership! 🎙️ #ProfitGuru #WealthBuilding https://t.co/4JdRIFqlQt

[AnnaWey @wynnaa_17]

Latest on PoB - @RuthKing shares How To Fire a Customer https://t.co/TY6bs5U4Tb More news at https://t.co/wGIvTbyhSk #pobinsider @KevinPriceLive @DarshDavis @dc_ksh

[Bill Sherman @BillSherman]

🚀 How do you turn financial expertise into global impact? On #LeveragingThoughtLeadership, @RuthKing shares how she scaled her insights through best-sellers, storytelling, and #AIinnovation. 🎧 #ThoughtLeadership #SmallBusinessGrowth https://t.co/4JdRIFqlQt

[RuthKing @RuthKing]

@PeterWinick Thank you

[Peter Winick @PeterWinick]

🚀 How do you turn financial expertise into global impact? On #LeveragingThoughtLeadership, @RuthKing shares how she scaled her insights through best-sellers, storytelling, and #AIinnovation. 🎧 #ThoughtLeadership #SmallBusinessGrowth https://t.co/JrtBPBzqKd

[RuthKing @RuthKing]

Two Common Pricing Mistakes – Are You Making Them? https://t.co/iCRfiemNav

[RuthKing @RuthKing]

Lead generation numbers are trending down – both for Big Box In-Store generated leads and traditional advertising methods.And, today’s millennials and Gen Z shop differently than other generations

https://t.co/EfIpsLmMHa

[RuthKing @RuthKing]

Make sure they are legitimate.
Did you check your bank accounts on line today? This is the first step in protecting your hard earned cash.
Get your free P&L and Balance Sheet Review: https://t.co/yk2qA5wvrr

[RuthKing @RuthKing]

It looked right. Then he compared the accounts receivable on the aged receivables list to the receivables stated on the balance sheet. That was right too. Something just didn't add up. He had to dig further. He reviewed the journal entries for the months.

[RuthKing @RuthKing]

When he dug deeper, he found that the accounts receivable clerk stole more than $100,000 over the time period she was there. Always get your financial statements on time AND look at the journal entries with the financial statements

[RuthKing @RuthKing]

Other times they couldn't pay all of their vendors on time. This didn't make sense given the amount of cash that was coming in the door. He couldn't figure out what was wrong.
Following my rules, he asked to see an aged receivables list.

[RuthKing @RuthKing]

“Where Did the Cash Go?”
A business owner had an employee who was responsible for accounts receivable. Her job included calling customers when receivables were not paid on time.

[RuthKing @RuthKing]

However, he did watch cash coming in the door. He did watch the accounts receivable balances and was told when large checks were received. Despite the checks coming in, cash was always tight. Sometimes the company just scraped by to make payroll.

[RuthKing @RuthKing]

Many times the owner was looking at them three or more months later. (January's financial statements were ready in April). So, he didn't have a good grasp on the accounts receivable balance on the statement because it was from a few months ago.

[RuthKing @RuthKing]

Every month the company owner printed out an aged receivables list and kept track of who owed the company money and how much of it was current and past due. Unfortunately the company didn't always get their monthly financial statements in a timely manner.

[RuthKing @RuthKing]

Are You Afraid to Fire an Employee Now That It's Busy?
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https://t.co/v8K27Y3BNZ

[RuthKing @RuthKing]

How AI is changing the financial part of the construction industry. https://t.co/6rJVXtPFKL

[RuthKing @RuthKing]

I will be speaking at the very first Woman in ASHRAE Leadership Symposium!
The dates are Thursday Sept 26th starting at noon until Friday Sept 27th at The Westin Michigan Ave. Chicago
@ashraenews
https://t.co/3u3f04QMEO