Apr 26, 2016

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We all have “That One Thing” that we know would save time or make our job easier. Neal Otto, Jump-start Computer Training, one of our most requested presenters has some tips and tricks that will help you with That One Thing!

Neal also has a new series of webinar trainings and is offering NACM Northwest members an exclusive discount; receive $30 off a 90 minute webinar and $60 off a three-hour webinar. Click here to check out the list of webinars Neal and his team at Jump-Start Computer Training are offering.

Use the coupon code: nacm at check out for the discount.

If you have any questions or have issues please contact Shawna Kelly: skelly@nacmcs.orgRead the rest

Apr 26, 2016

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Thank you everyone who attended the 2016 Member Appreciation Breakfast. We raised $620 for the NACM Northwest Foundation Scholarship Fund with the raffle and silent auction. Thank you again to all the members and individuals who donated items and money to make our first raffle a success! Check out the video below to see the fun festivities!

Members who Donated:

• Boyd Coffee Co.
• Brighton Collectibles
• Columbia River Knife & Tool
• Columbia Sportswear Company
• Dolan Northwest LLC
• Hazelnut Growers Of Oregon
• Keen, Inc.
• Miller Paint Company, Inc.

Individuals who donated
• Linda Bishop, CCE, CICP
• Marsha Johnson, CCE
• Charlene Gothard, CBF

Read the rest

Apr 25, 2016

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By Amy E. Geerhart, Attorney, Sussman Shank LLP

Washington adopted meaningful changes to its business laws effective January 1, 2016, substantially modifying legal requirements for Washington limited liability companies and filing obligations for all forms of business entities. These changes were codified in the revised Washington Limited Liability Company Act (the “Revised Act”) and in changes to the Uniform Business Organizations Code, which changes are commonly referred to by the bill name that carried them into law (“Hub Bill”).

REVISED WASHINGTON LIMITED LIABILITY COMPANY ACT

Voting Scheme

One of the more notable changes in the Revised Act changes the default rules regarding voting rights of members. Under the prior LLC Act, as is the case with most other types of entities, member votes are based on the percentage of ownership, meaning that a member owning, for example, 60 percent of the ownership interests can always outvote a member owning the remaining 40 percent.… Read the rest

Apr 13, 2016

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There is a NACM Northwest Foundation Annual Meeting coming up!

June 22, 2016
NACM Northwest offices
5:00 PM

2015 financials will be reviewed, board members will be elected, officers for the coming year will also be elected.
All NACM Northwest members are invited to attend!Read the rest

Apr 13, 2016

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An early 2016 study conducted by the Financial Executives Research Foundation and risk and business consulting firm, Protiviti, confirms what many financial and trade credit professionals already know: “financial functions are beyond busy.” Responsibilities are rising for people in these parallel fields, and that is only expected to continue through the second half of the decade.

Key findings in the report, The Rising Tide of Financial Challenges, include the following.

  • Cash remains king, as does cash clarity.
  • More and improved analysis is paramount.
  • There’s hunger for a more holistic approach.
  • Getting the right talent in the right place is a formidable challenge.
  • Soft skills have hard value.

The analysts break down their outlook by five main categories: Process Capabilities [Financial Transactions], Process Capabilities [Financial Analysis], Emerging Issues, Technical Capabilities, and Organizational Capabilities.… Read the rest

Apr 13, 2016

Posted by & filed under Credit.

So your customer has recurring payment delinquencies or is experiencing consecutive periods of poor financial results. Perhaps more alarming, the customer is suffering from a broader economic slowdown, has unfulfilled payment obligations, or is experiencing management changes or recurring order holds. The time for a “workout” session has arrived. Now you will assess an account’s financial condition and perhaps make a tough credit decision regarding your customer.

“The ultimate goal of a workout should be to restore a customer to economic health in order to reduce risk of loss or to withdraw open account terms because the endgame is looming near,” writes veteran credit professional Lucas Gomez, CCE, author of Credit: Beyond the Numbers. “A workout plan should reflect the customer’s financial condition, provide the customer an opportunity to overcome his/her shortcomings, and provide the seller the opportunity to protect and cover its investment.”… Read the rest

Mar 11, 2016

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Picture the scene: You have just received word that your customer has filed Chapter 11. You had followed my advice and put the customer on a cash-before-delivery basis and demanded assurances of performance. You were successful in reducing the accounts receivable owed, and avoiding preference liability in doing so.

The customer, now a Chapter 11 debtor, calls and demands that you continue to ship, and resume credit terms.

The customer tells you its lawyers have advised you are required under provisions of the United States Bankruptcy Code to continue to ship goods and to extend credit terms set forth in the contract. The problem is there is still a prepetition accounts receivable balance and you are not certain the debtor will survive in Chapter 11.… Read the rest