The Hartford Insurance Group, Inc. · NYSE:HIG
The Hartford Insurance — The Hartford — Hartford Cash Flow Webinar (July 2022)
10 slides from The Hartford Insurance's conference presentation, July 2022
Slide 1: Cash Flow 2021: How Smart Business Owners Are Increasing Cash
CASH FLOW 2021: How Smart Business Owners Are Increasing Cash Gene Marks CPA President – The Marks Group PC
Slide 2: 5 Ways To Be Smarter About Your Financials
5 Ways To Be Smarter About Your Financials…. • Have a flash report (Cash, Open AR. Overdue AR, Open payables, YTD OT Hours. YTD Revenues. # Customers. Job Backlog. Quotes Outstanding) • Have a 6 month target • Read your general ledger • Start a rolling forecast • Get your financial statements from a
Slide 3: 6 Ways To Be Smarter About Your Inventory
6 Ways To Be Smarter About Your Inventory…. • Perform daily cycle counts • Have a perpetual inventory system • Watch your monthly profit margins • Lock up your inventory • Throw out old inventory • Tag and track via GPS © 2022 by The Hartford. Classification: Company Confidential. No part of this do
Slide 4: Receivables
7 Ways To Be Smarter About Your Receivables…. • Enforce strict credit • Take a deposit up front • Accept credit cards and mobile payments • Bill and collect online • Schedule reminders in your CRM system • Focus on the slow payers • Outsource your collection © 2022 by The Hartford. Classification: C
Slide 5: What We've Learned
What We’ve Learned • Be smarter about your financials • Be smarter about your inventory • Be smarter about your receivables © 2022 by The Hartford. Classification: Company Confidential. No part of this document may be reproduced, published, or used without the 5 permission of The Hartford.
Slide 6: Payables
10 Ways To Be Smarter About Your Payables…. • Use online banking • Pay more by credit card • Outsource your IT • Use online payables management platforms • Pay 2x per month • Pay on time or early • Implement a PO process • Get audited – utilities, insurance, shipping • Get a line of credit • Require
Slide 7: Financing
6 Ways To Be Smarter About Your Financing…. • Look for private grants • Strongly consider friends and family • Consider factoring • Compare online to traditional lenders • Take advantage of merchant advances • Get an SBA loan © 2022 by The Hartford. Classification: Company Confidential. No part of t
Slide 8: Taxes
7 Ways To Be Smarter About Your Taxes…. • Meet with your accountant 2x per year • Maximize your retirement savings • Write off inventory and accounts receivable • Employ your kids • Invest in equipment • Take advantage of the Work Opportunity Tax Credit • Tax advantage of the R&D Tax Credit © 2022 b
Slide 9: What We've Learned
What We’ve Learned • Be smarter about your financials • Be smarter about your inventory • Be smarter about your receivables • Be smarter about your payables • Be smarter about your financing • Be smarter about your taxes © 2022 by The Hartford. Classification: Company Confidential. No part of this d
Slide 10: Thank You! Gene Marks CPA
THANK YOU! Gene Marks CPA [email protected]
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