Admin Books Newsletter
Running a small business is fraught with challenges. Admin Books partners with business owners to provide financial and bookkeeping services through our team approach. Our goal is to free you to focus on growing and managing your company. The purpose of this e-zine is to provide our clients, associates and friends with valuable tools to manage their business. Enjoy! Renee
Low Cost Collection Options
Do your clients or customers owe you money? Do you want to collect that money without paying a small fortune to do so? You may find the following tips helpful:
Be the Squeaky Wheel: Particularly in a failing economy, whatever you do, it's important to impress on those who owe you money that you are not going to go away or let them pay you slowly. Under no circumstances do you want them to pay others instead of paying you.
Hire a Collection Agency: There are a lot of collection options around and, like anything else, they vary quite a bit in cost and utility. Generally speaking, if you have a lot of small dollar value claims, a collection agency is probably your best bet. If you have only one or even a small number of claims, however, and they are worth several thousands of dollars each, it is likely worth your while to do more than just turn them over to a collection agency.
Do It Yourself in Small Claims Court. This is not as hard as you might think and there is plenty of help available. The jurisdictional limit of small claims court is $7,500 for individuals, including businesses that are sole proprietors, and $5,000 for corporations, partnerships and the like. Even if the debt exceeds those limits you can waive the excess and sue to recover the jurisdictional amount. Most courts have small claims advisers who can walk you through the process. In Santa Clara County, you can reach the small claims adviser at (408) 556-3000 (press option 2 and then option 6); this service is available M-F 2:30-5:00. You can also get information about the small claims process at the court's self-service website: http://www.scselfservice.org/small/default.htm. An attorney cannot represent you at trial in small claims court, but he or she can guide you through the process and, also, help you prepare for trial.
Hire an Attorney to Communicate with the Debtor: Just because you hire an attorney does not mean you have to spend a small fortune. Sometimes, a demand letter and a few phone calls from an attorney will shake loose some money you would not otherwise be able to collect. If not, the vast majority of cases settle. If you are owed enough more than the small claims limit that you do not want to waive the excess, it may be worth your while to file a lawsuit against the debtor. Filing a lawsuit does not mean you will necessarily have to take the case to trial. You may have to file to convince the debtor you are serious about collecting the debt and, once the debtor is convinced, it may be willing to pay a substantial portion of what is owed.
The following article was written by Marlis McAllister of McAllister Law Group. You can contact her at (650) 948-7536 or marlis@mcallisterlaw.net.
Advertisement
This publication is intended to provide accurate and authoritative information. It is not intended to render any legal or other advice about any particular transaction or circumstance. If you require legal or other professional advice, you should consult an attorney or other professional adviser.
It's No Surprise...It Comes Every Year 
S-Corps and C-Corps are required to file their tax return on March 15th if the are on a calendar ending year. If you do not have your documents in order yet, you can file an extension. If you need assistance with your return or the extension, please call our office.
Remember to send your minimum State tax of $800 by March 15th.
Strategies You Need To Get Hired!
If you find yourself needing to find a job, this FREE seminar might be of interest to you.
Saturday, March 14th from 8:30am - 4:30pm hosted at Morgan Hill Bible Church
Four Highly Interactive Workshops:
Battle of the Resume - Professional Resume Writer will give you the tools necessary for aligning your "perfect" resume. Target your career position.
Promote Yourself Online - you will learn how to use Social Media Marketing to promote yourself beyond the resume. Learn to build your personal brand, increase visibility and drive prospective employers to you.
Memory Techniques - Simplified - learn from a leading memory instructor how to become more influential in business as you can instantly recall names, dates and complex lists without writing anything down.
Successful Interviewing - learn the art of being interviewed and hired. Improve your confidence and impress your future employer.
To register: www.backtowork.eventbrite.com
Managing Your Properties With QuickBooks:
Renee has just finished publishing a QuickBooks manual specifically for real estate investors and property managers. This step-by-step guide is packed with practical information with easy to read explanations and screen shots. Set up your own QB file by restoring the included sample file customized for real estate investors.
Topics Include: setting up tenant lists, dividing income and expenses by property, security deposits, customized Chart of Accounts, maintaining correct mortgage balances, earnest money, 1031 exchange funds, PITI, negative amortization loans, capital improvements, purchasing property entries, year end procedures, customized reports for investors and much more!
To preview the book: http://www.adminbooks.com/
Order Your Copy Today!
Quotable Quote:
"Confidence is contagious. So is lack of confidence." - Michael O'Brien
Free Stuff: I want to make sure you are aware of several items of value that you can take advantage of compliments of Admin Books.
- Receive our Monthly newsletter for free, but also be able to access past articles on our website to review later.
- If your business is struggling or you are seeking confirmation that your bookkeeping is in order, take our FREE quiz. Answer 10 easy questions and get a diagnostic report that will let you know how your company is doing.
- If you would like to hear a 45 minute audio on how to manage your personal finances, click on the link Personal Finances
- If you would like to listen to an MP3 recording of how to run your business more efficiently, go to our website and click on the Compass Interview on the front page.
- Check out our blog. Post your comments or questions too!
- You've invested time, effort and money in your business. Now invest a few minutes to find out how you can find peace of mind in running your business with Admin Books. We'll make an investment in your success with a FREE 1/2 hour initial consultation for prospective clients. This gives you a chance to explain what is driving you crazy and we can confirm our services match your bookkeeping needs. Fill out the following Questionnaire.
- Not sure how long you need to keep your documents? Request a "Records Retention Guide." This brochure will let you know if you need to hold on to paperwork permanently, for 7 years, for 5 yeas, and 3 years. This free report will provide you peace of mind knowing it is fine to shred your documents. Contact us at 408-782-9640 to get your copy!
Upcoming QuickBooks Classes:
Beginner Class - Friday, May 1st from 8:45am - 5pm at the Holiday Inn in Morgan Hill. Check out our website for content and cost.
Real Estate Investor/Property Manager - Saturday, May 9th from 8:45am - Noon at the Holiday Inn in Morgan Hill. Check out our website for content and cost.
To register: http://www.adminbooks.com
As a business owner, you're the pilot who ensures the business takes off and lands successfully. Are you flying by the seat of your pants or do you have a flight plan? Read my book, "Your Financial Flight Plan: Pilot Your Business To Profitability. Check out your copy at: http://www.yourfinancialflightplan.com
The book is also available at http://www.amazon.com, Barnes & Noble and BookSmart in Morgan Hill!
Are Your Books In Order?
What is the status of your bookkeeping??
Are you current??
Are your books accurate??
Admin Books can assist you with:
- Data Entry
- Reconciliation
- Payroll Processing
- Sales Tax Reports
- Workers Comp Reports
- Job Costing
- Private Consultations
- Financial Coaching
- QB File Clean Up
Call our office to confirm our services match your business needs!
Best Regards,
Renee Daggett
408-782-9640
