Join the Euclid Chamber of Commerce at Euclid Public Library, 631 E. 222nd St., Euclid, Ohio, on June 12 from 8:30-10 a.m. for an educational discussion. Are you thinking of starting a business? Or have you been in business for several years? If so, this workshop was designed for you. It will cover:
Cash vs. accrual accounting
Separating personal and business expenses
Budgets and financial planning
There is no cost to attend. Membership is not required.
(Courtesy of Guest Blogger Ed Kneitel, HGR’s controller)
What does your department do?
The Accounting Department is the financial hub of HGR. We work on daily cash reconciliation, processing vendor invoices and customer payments, and preparing monthly financial statements. We manage business relationships with our cell phone carrier, insurance carrier, network administrator, bank, phone company, Internet provider, cable TV provider, and anyone else that receives an HGR check. We support DataFlo, which is our accounting system, and work closely with our development team for support and enhancements. We have an open-door policy, and no issue is too difficult for us to tackle!
How many people work in your department, and what are their roles?
Paul, HGR’s chief financial officer, works on strategic business decisions, customer and vendor relationship management, managing our Austin Call Center and other special projects. Ed, HGR’s controller, manages the day-to-day activities of the department. Lonnie, HGR’s accounting assistant, works with vendors and customers to pay bills and receive payments.
What qualifications do you need to be successful in your department?
We never know when we will be asked to address, and it’s often a time-sensitive issue on short notice; so, we must be flexible and available at all times. We must be able to multi-task, have a good memory (most of the time!), excellent computer skills, an accounting background, understand accounting software, be very well-organized, and have good interpersonal communication skills.
What do you like most about your department?
HGR’s Accounting Department is never boring, since there is something new to do every day — whether we like it or not! We enjoy a challenge; so, bring it on!
What challenges has your department faced and how have you overcome them?
Lonnie joined the department in November 2016 and has been a major factor in the success of the department during the last year.
What changes in the way your department does business have occurred in the past few years?
We have integrated credit card processing into DataFlo, eliminating almost all errors. We also have made major enhancements to DataFlo that have saved time in data processing. We have implemented Smartsheet, a collaborative tool that allows salespeople to view customer wire and PayPal payments, which has eliminated numerous email.
What continuous improvement processes do you hope to implement in the future?
We will be flowcharting HGR’s business processes, which will allow us to spot areas for improvement as we look to upgrade DataFlo. We also hope to further streamline the purchasing process by moving the entire inspection-to-P.O. function to Microsoft’s customer relationship management software (CRM).
What is HGR’s overall environment like?
HGR is always buzzing with activity; there is no other company like it! Everyone is friendly, willing to chat for a few minutes, and genuinely cares about each other, both personally and professionally. We practice what we preach when it comes to our company values!
What is your perspective on manufacturing, surplus, investment recovery/product life cycle/equipment recycling?
HGR serves companies that can’t afford or don’t want to purchase new equipment, as well as companies interested in selling their used equipment. Our business model has proved the test of time throughout almost 20 years in business; so, there is definitely a market for the products and services that we provide. We are constantly moving inventory through our showroom as a result of purchases and sales; so, our “shelves” (okay, aisles and bays) always have new products on display.