Ryan Balfe

How to Maintain Healthy Relationships with Vendors

If a Vendor Bill Converts from Current to Past Due, Then Get Notified in Slack and/or Workplace by Facebook! In order for businesses to sustain a consistent delivery of qualitative products and services to their customers, it is critical to maintain healthy and trustworthy relationships with its vendors and suppliers.  In most vendor-customer relationships, the […]

How to Get Paid Faster and Effectively Manage Accounts Receivable

If a Customer Invoice Converts from Open to Past Due, Then Get Notified Immediately! One of the most important components of managing a small business is to get paid for the goods and services you provide in a timely fashion.  In a perfect world, your customers or clients will pay your invoices within your specified […]

How to Maintain an Accurate Balance Sheet with Slack: A Proactive Approach to Financial Statement Integrity

If a Balance Sheet Account is Negative, Get Notified in Slack or Workplace by Facebook!   Analyzing the balance sheet is one of the most critical responsibilities of a proper month-end close.  Failing to incorporate this particular step into your accounting workflow could result in producing grossly inaccurate financial statements.  The Profit and Loss Report, […]

If Your Business Bank Account Balance Dips Below Your Threshold, Then Get Notified Immediately

Overdraft, NSF and other bank fees can detrimental for all businesses, especially when they could have been easily avoided with a simple bank transfer or adjustment to your AP schedule.  Overdrafts occur when a debit transaction converts your account into a negative state.  Failing to prevent this particular event can yield both costly and embarrassing […]

How to Quickly Categorize Uncategorized Transactions

Accountants and bookkeepers frequently stumble upon debits and credits that are not easily discernible and, as a result, encounter a hurdle when attempting to populate and reconcile an account.  A common industry practice in order to move forward is to simply record an unrecognized transaction to one or more suspense accounts and then reach out […]

If Pinger, Then Bring Your Accounting System to Life

Small business owners face many challenging operational and fiduciary responsibilities.  As leaders of the sales, operations, marketing, customer service, HR, and accounting departments, it is evident that keeping the company afloat can be an art in of itself when juggling multiple and multifaceted roles.  According to the Small Business Accounting Report, the top professional that […]