Meeting Recap for August 26th
Today was another great meeting! It was our first breakfast meeting at Micheal’s Grill, and what a tasty treat that was. The group is really nailing down their 30 second Infomercials and one of our members—Rebecca Williams—from Bay Area Plumbing educated us on replacing our household copper pipes with PVCs and that Bay Area Plumbing is available in all plumbing emergencies 24 hrs a day. Phew! That could be a busy schedule, Rebecca. Nonetheless we were all very happy to learn more about one of or members’ businesses during this 5 minute Showcase.
Today was also a continuation of our Accounting for Small Business series. Over the last 2 meetings we had a guest attorney, Ailen Cruz, present to the group various legal business entities that small businesses can adopt and their legal ramifications and then last week one of our members—Marta Harich, our resident Tax CPA—followed up on the tax implications of the legal entities and several key expenses that are highly looked at by the IRS. This week Marta Harich dove right into Cash Flow versus Profit & Loss Statements and how certain cash transactions impact them. Jean Fuller, our hands on bookkeeper, provided various examples of how to account for salaries, loans and asset purchases in QuickBooks and then Marta ended with how to use the business financials in a yearend planning session and the positive impact this type of planning has on small businesses. This is just a small way CPN helps our business owners. CPN’s goal is to help each of our business owners succeed. Come join us at our next meeting-September 11th at Michael’s Grill!