Patrick Manning

Providing CFO services and Business Transition Services in Southern California

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[b2bcfo_profile field=”city”], [b2bcfo_profile field=”state”] CFO

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Contact Patrick Manning and receive a free Discovery Analysis™

  • A confidential meeting with the business owner(s), then interview company staff.
  • Look at the company’s financial information and computer systems.
  • Benchmark financial information against industry averages.
  • Create a confidential report of our findings in The Strategy Gameplan™







Patrick’s Bio

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Contact Patrick (805) 340-8309

 

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Recent Articles

Jul 29B2B CFO

U.S. Chamber of Commerce Names B2B CFO Among Nation’s Top 100 Small Businesses at the 2015 Small Business Summit

Jul 29B2B CFO

U.S. CHAMBER OF COMMERCE NAMES B2B CFO AMONG NATION’S TOP 100 SMALL BUSINESSES AT THE 2015 SMALL BUSINESS SUMMIT B2B CFO’s Founder Jerry L. Mills brings top concerns of Small Business Owners and discusses Free Enterprise with members of Congress and Press MESA, Ariz. [July 7, 2015] – B2B CFO, the nation’s largest CFO and Exit Strategies firm for growth-oriented, privately held companies, was honored by the U.S. Chamber of Commerce with the prestigious Blue Ribbon Award. Selected from a

Mar 11B2B CFO

Crowdfunding

Mar 11B2B CFO
Picture Of Money Jar

The Wall Street Journal ran an interesting article on crowdfunding and the plethora of web sites that have cropped up as a result of recent law changes. Crowdfunding is a collective effort of individuals who network and pool money to support a variety of activities including start-up company funding.  The Jumpstart Our Business Startups or JOBS Act signed by President Obama last April will change the law so that companies can raise up to $1 million a year by selling

May 31B2B CFO

Common New Manager Mistakes

May 31B2B CFO

I recently read an article that focused on common mistakes of new managers. While the article focused on new managers, experienced managers and small business owners are also subject to the same types of errors. I have identified a few below, some of which are mentioned in the article and others which I have added. Myth: Managers Wield Significant Authority – There is authority with having a manager title, but it is wrong to think that a new manager wields

Mar 4B2B CFO

Is a C-Corporation in Your Future?

Mar 4B2B CFO

With the recent changes in the tax code, some small business owners are questioning if their S-corporation tax status is the most tax efficient tax strategy.  Close to 30 million business owners have elected an S-corporation tax status resulting in their business profits being included on their personal tax return.  This year single individuals earning over $400,000 and joint filers earning over $450,000 will see their incremental top rates increase from 35% to 39.6%.  This compares to the top corporate

Feb 16B2B CFO

The Rise of the Consultant

Feb 16B2B CFO

The nature of employment significantly changed with the Great Recession.  This change took place as businesses were forced to reduce their staffing levels in order to survive.  On the flip side, workers who lost their jobs were faced with the reality that once readily available jobs for the skilled and competent no longer existed.  So here we are four years later.  Are businesses and workers better or worse off with this new employment paradigm? Business owners of small to mid-sized

Jan 27B2B CFO

Crowdfunding

Jan 27B2B CFO

The Wall Street Journal ran an interesting article on crowdfunding and the plethora of web sites that have cropped up as a result of recent law changes. Crowdfunding is a collective effort of individuals who network and pool money to support a variety of activities including start-up company funding.  The Jumpstart Our Business Startups or JOBS Act signed by President Obama last April will change the law so that companies can raise up to $1 million a year by selling

Jan 14B2B CFO

How to Help Your Banker Say Yes

Jan 14B2B CFO

I had a great meeting with my client and his banker as we approached him about increasing my client’s line of credit. For the past four years he has banked at a local community bank.  My client has the good fortune that his business is doing quite well.  Of course he thoroughly knows his business, and from a qualitative standpoint, he is able to clearly articulate his successes over the past year.  However, having a financial expert at the meeting

Dec 22B2B CFO

Cigarette Smoking- It May Harm Your Chance of Being Hired in Addition to Your Health

Dec 22B2B CFO

This month Knowledge @ Wharton published an article about how some companies will not hire applicants who smoke cigarettes.    One such employer, Beebe Medical Center in Southern Delaware, will begin testing job applicants for nicotine use along with their other standard drug tests.   Wharton health care management professor Kevin Volpp believes that over time this practice will lead to lower health insurance cost for employers.  He believes this type of hiring practice will not affect overall tobacco use unless a

Dec 15B2B CFO

Is A Rolling Forecast Right For You?

Dec 15B2B CFO

In my last blog I talked about the concept of doing away with the annual budget process in favor of adopting a rolling forecast.  This is a strategy some larger companies have started using in order to have a financial plan that is more dynamic than a stagnant budget that can quickly be out of date as internal and external conditions change.  These larger companies that use the rolling forecast typically use sophisticated software packages in creating and maintaining their

Nov 26B2B CFO

Is it Time to Shelf the Annual Budget?

Nov 26B2B CFO

By this time of the year most companies who adhere to the long standing tradition of creating an annual budget are knee deep (maybe neck deep) in the process.  I know for many managers, the thought of preparing the annual budget evokes fear and trepidation. The budget process requires them to commit to next year’s sales, head count, raises, and other spending estimates.  Some “seasoned” managers who knew how the game is played low ball sales goals or pad expenses

Nov 9B2B CFO

Are Margin Loans a Good Idea?

Nov 9B2B CFO

On September 21, Jason Zweig wrote an interesting article in the Wall Street Journal about the risks of borrowing funds against your investment portfolio.  In spite of interest rates being at historic lows, these types of loans known as “margin loans” expose the investor to significant risks.  The amount that can be borrowed is determined based on the value of the underlying assets (stocks, bonds, or mutual funds). As we have experienced in the past few years, stocks’ and bonds’

Oct 23B2B CFO

Employment Screening Using Social Media

Oct 23B2B CFO

In recent years employers have relied on information gleaned from the Web as well as job applicants’ social media when making hiring decisions.  By accessing information found in social media, employers can gain information about the potential employee they would not volunteer on their job application or could not be asked at the job interview.  The issue comes down to do employers have the right to require job applicants to supply employers with their user names and passwords as a

Oct 17B2B CFO

Anaheim police union worker charged with taking more than $360,000

Oct 17B2B CFO

The Anaheim police union could have avoided this alleged embezzlement if they had proper business controls in place.  One thing that most business owners learn is that they must have proper business controls in place in order to protect employees from themselves.  This may sound jaded, but there are many examples of good people falling victim to weak internal controls.  It may start very small and if not caught can escalate to the level seen in this example.  As a

Oct 10B2B CFO

Is Cloud Computing Right for Your Company?

Oct 10B2B CFO

There are many advantages to using cloud based software.  One that is near and dear to my heart is it allows you to hold onto cash.  Typically cloud software has a lower cost of entry since a monthly service contract is signed rather than having to invest significant dollars in hardware and software.  Often implementing cloud software can save up to 40% in consultant fees and in-house personnel costs versus purchasing and installing software on your company server. With cloud

Oct 9B2B CFO

Accessibility and Cash Flow

Oct 9B2B CFO

In my career as an Orange County based CFO one approach I have taken in managing cash flow is accessibility.  This might seem to be a strange aspect of the position and a strange ingredient in cash flow management, but I’ve found it to be very valuable.  By accessibility I mean that suppliers to the companies that I’ve work with have direct access to the CFO.  How does this make the tasks of being a CFO easier?  Some benefits are:

Oct 6B2B CFO

TCO for ERP Systems

Oct 6B2B CFO

When my CFO clients here in Orange County ask me to help them with a system selection one of the elements that enters into the decision is Total Cost of Ownership (TCO).  TCO is a term popularized in 1987 by the Gartner Group and continues as a valid measurement of any Enterprise Resource Planning (ERP) system.  Some of the elements that should be reviewed in looking at the total cost of a new or existing ERP system would include the

Sep 28B2B CFO

Long Term Care Insurance

Sep 28B2B CFO

Long Term Care insurance is a type of insurance most of us don’t want to think about.  These policies help pay for the cost of nursing homes, assisted living, or home care if an individual is incapable of performing certain basic human necessities.  The Wall Street Journal recently wrote an article about how these policies have recently become less popular as policy costs increase and a number of insurers pull out of the market.  According to the American Association of

Sep 14B2B CFO

Morgan Stanley Smith Barney Announces Alliance with B2B CFO

Sep 14B2B CFO

Professional alliance offers more holistic approach for business owners HOUSTON–(BUSINESS WIRE)–Sep. 6, 2012– Morgan Stanley Smith Barney has announced a new national alliance with B2B CFO, the largest CFO services firm in the United States. This agreement provides an innovative blueprint for a coordinated effort to meet both the corporate and personal wealth management needs of privately held businesses and their owners. The relationship, formalized through Morgan Stanley Smith Barney’s Professional Alliance Group, allows B2B CFO to refer clients to

Sep 12B2B CFO

When Baby Boomers Retire

Sep 12B2B CFO

There was an interesting article in the June edition of CFO Magazine entitled “When Boomers Go”.  It focused on the huge impact the Baby Boomers have made on business and the implication to organizations when employees from this generation retire.  For some organizations, a retiring baby boomer it is an opportunity to replace a burned out employee with one who is eager, anxious to make his mark, and full of new ideas.  However in many situations, a retiring baby boomer

Aug 23B2B CFO

How A Change in Investors’ Investment Philosophy Impacts Mutual Fund Companies

Aug 23B2B CFO

On August 6, 2012 I read an interesting article in the Wall Street Journal about American Funds, one of the largest mutual fund families and Vanguard Group, now the largest fund family.  Over the past 4 ½ years American Funds has experienced a net outflow of over $200 million in investor funds while Vanguard saw an increase of $452 million for the same period.  These very divergent results of inflows and outflows of investor dollars stem from the change in

Aug 12B2B CFO

A view of the current political climate

Aug 12B2B CFO

I would consider myself well informed on US political issues and continue to be amazed at the current status of US politics.  It’s quite interesting to watch the political machines gear up for the coming election and all I can surmise from both parties is that they rely upon an uninformed public to make their selections.  I have watched the Republican party declare that their number one goal is to keep our current President from getting a second term.  Simple

Aug 8B2B CFO

Will online retailers be required to collect sales tax?

Aug 8B2B CFO

There is a new push by the Senate with the Marketplace Fairness ACT (MFA) to require online retailers to collect and pay sales tax on all of their internet sales. Currently, based on the pivotal Supreme Court case, Quill vs. North Dakota 1992, online retailers are only required to collect sales tax on retail sales in those states where they have a physical presence or agents.   The argument for requiring online retailers to collect sales tax on all retail

Jun 26B2B CFO

Are your financial statements telling you what you need to know?

Jun 26B2B CFO

Throughout my carrier I have come across various business owners who are successful in growing their business but do not fully understand what drives their company’s profitability.  This problem can occur if a company prepares only consolidated financial statements and does not prepare financial statements for each of its business units.  There may be patterns or other information that are obvious from a business unit standpoint but masked when the company’s financial results are only reviewed on an aggregated basis.

Jun 21B2B CFO

Four Cash Flow Rules

Jun 21B2B CFO

(Yes, accountants love rules) Okay, silly question – why do you need to concentrate on Cash Flow? Simply put, especially for a small to mid-sized business, cash flow equals life, growth, prosperity . . . and survival. You as an owner need to free yourself to focus your unique talents and abilities on growing your business rather than fighting the constant cash flow fires. Remember . . . you are the only one who really cares about the ongoing viability

May 16B2B CFO

The Monotonous Machine – Part 1

May 16B2B CFO

When accounting is done right, it should be boring. The expectation of most people outside of accounting (and administration) is that things should be done right. Paychecks must be accurate, financial statements must be free of mistakes, vendors must be paid on time, documents must not get lost, procedures must be followed, reports must be ready on time, employees must get correct answers about their benefits, customer invoices must be sent promptly without error, laws or regulations must be complied

May 11B2B CFO

What cloud do you want for your ERP?

May 11B2B CFO

There has been a great deal of talk lately about “The Cloud”, but what is the cloud.  In loose terms the cloud is any system that is accessed from an offsite location (the user has no hardware requirement.)  Using this definition a hosted solution, where you own the software would be cloud based.  A system where you don’t own the software and are paying a monthly fee for access would also be considered cloud based, this is typically referred to

May 10B2B CFO

JEOne for SAP Business One

May 10B2B CFO

One of the most useful add-ons I’ve seen in a while for SAP Business One is JEOne.  It’s a simple utility that is used to import Journal Entries directly into SAP Business One directly from Excel.  Makes the month-end process a breeze and eliminates double entering all the information.  Check it out at Octave Solutions.

May 8B2B CFO

ECommerce solutions for SAP Business One

May 8B2B CFO

In my seven years of working as an implementation consultant to SAP Business One I’ve worked with two solutions for ECommerce.  They are Magento for SAP Business One and zed ECommerce.  They both have their good features and are both adequate in their approach to providing a good solution for an integrated solution for SAP ECommerce.  The Magento solution is, of course, based on the Open Source webstore from Magento, while the zed ECommerce product is a complete self-contained ECommerce

May 8B2B CFO

Outsourced Manufacturing with SAP Business One

May 8B2B CFO

SAP Business One does a good job with outsourced manufacturing.  There is an enhancement to SAP Business One that can make the processing of outsourced manufacturing much easier.  The add-on is called Octave Outsource from Octave Solutions.  The features of the add-on are: Automatically creates a production order upon creation of a purchase order line to purchase the outsourced labor. Automatically receives against the production order at the time a receipt is processed against the purchase order. Backflushes the components

May 8B2B CFO

Exchange Rate Add-on for SAP Business One

May 8B2B CFO

One of the nice things about SAP Business One is the ability to process transactions using multiple currencies.  One of the drawbacks is that someone has to enter the correct currency conversion rate each day before any transactions can be completed.  Octave Solutions has come up with a solution to this problem.  They call it XRates for SAP Business One and it’s really easy to use.  You just install the Windows service on your server and it does the rest. 

May 8B2B CFO

What happened to good sportsmanship?

May 8B2B CFO

Over the weekend we watched the NASCAR race from Darlington, SC and Game 4 of the Mavericks – Lakers playoff match.  In both events everyone that watched got to see examples of bad sportsmanship. In the NASCAR race near the the end Kyle Busch and Kevin Harvick were bumping each other when Clint Bowyer got involved and pushed Harvick into Busch.  From my view it looked like Busch thought it was part of the same bumping session and he retaliated. 

Apr 7B2B CFO

Senate Passes 1099 Repeal

Apr 7B2B CFO

As a part time CFO one of the areas that I watch for my clients is compliance.  The recently passed Patient Protection and Affordable Care Act (Health Care Reform) included a provision that would have added a tremendous workload on all organizations.  The provision required all organizations to issue 1099’s for all suppliers, both product and service, regardless of their incorporation status that provided over $600 in products or services and was to go into effect on January 1, 2012. 

Apr 4B2B CFO

Why I Became a Partner in B2BCFO®

Apr 4B2B CFO

Last summer I was looking at my options.  For the past fifteen years I had been providing consulting services, in the form of ERP implementations and Interim CFO services.  Much of this time I owned my own company.  I had recently closed my ERP value added reseller business due to the down economy (it’s hard to maintain a business where monthly revenue declines by 80% over a four month period) and was looking for something I’d enjoy and that would

Mar 31B2B CFO

Are Our State and Federal Government Budget Cuts Appropriate?

Mar 31B2B CFO

This year many state and local governments, as well as the federal government, are feeling the true impact of the Great Recession.  One of the impacts of any recession is a lagging decline in revenue for government entities.  This can be tracked through out history and should not be a surprise.  The reaction and areas that are being cut are a surprise to the populace of the country at large. At a time when the United States is falling behind

Mar 31B2B CFO

Why can't EDI implementations be easy?

Mar 31B2B CFO

In working with my clients as a part time CFO and system implementer I sometimes get deeply involved in the implementation of Electronic Data Interchange (EDI) applications between my clients systems and their customers.  EDI as a technology has been around since the late 1960’s, but every implementation I’ve seen has been behind schedule and more stressful on my clients than you would think from a 50 year old technology.  Some of this stems from the integration with the Enterprise

Mar 15B2B CFO

Whose implementation is it?

Mar 15B2B CFO

So you’ve decided to purchase a new ERP (Enterprise Resource Planning) system after going through a thorough search of the market and the products available. Your about to have your first meeting with the new project manager provided by the ERP software company or their partner. Whose Implementation is it? The project manager assigned by the ERP supplier or your company’s? This is a question that every implementing company has to deal with on every implementation. The short answer is

Feb 21B2B CFO

Fraud and Trust

Feb 21B2B CFO

Trust in others is something that we naturally desire. It is critical for things to work properly and there is a great sense of satisfaction in a mutually trusting and productive relationship. But it is also a natural desire for humans to be safe. So by putting the proper boundaries and controls in place, we can have the safety we want and need and also be able to enjoy the full value of a trusted relationship.

Feb 16B2B CFO

Jack and the Surfrepreneur's Budget

Feb 16B2B CFO

A Southern California Guide to Budgeting (Links provided for translation purposes) What, budget? Whatever. You cubular hoadads do what you need to do, as for me…grab board, hit beach, shoot e-curls. Okay you SoCal surfrepreneurs consider this while you’re waiting for your Alchemy Hour; Mark McCormack, in his book, “What they don’t teach you in Harvard business School”, sites an interesting study. A group of Harvard business students were asked about their personal goals. As it turns out, only 3%

Feb 8B2B CFO

ARE YOU MANAGING YOUR CASH OR IS IT MANAGING YOU? By B2B CFO Partner Johnny Gates

Feb 8B2B CFO

I recently saw a survey concerning the degree to which business owners are managing their cash flow. The results might be surprising to many in that only 20% of business owners felt they were in control of their cash flow. This means that over 80% of owners manage their business without having the necessary control over cash. Unfortunately the lack of financial control of your business can lead to devastating consequences. Compare this situation to driving down the road at

Feb 7B2B CFO

PC Fit

Feb 7B2B CFO

Santa Ana’s Child Guidance Center operates a program called Parent-Child Interaction Therapy (PCIT). The PCIT Program is a 14-16 week, evidence-based, live coaching, early-intervention that strengthens the parent-child bond and provides highly consistent, appropriate, and effective parenting strategies. Observing from behind a one-way mirror, a PCIT therapist coaches the parent through a wireless earphone on how to better communicate, relate to, and manage their child’s behavior. Parents learn and practice these skills with their child until they achieve mastery. Child

Jan 6B2B CFO

All this “Trusted Advisor” Stuff

Jan 6B2B CFO

I’m a fan of David Maister. He’s authored and co-authored several books that focus on the management and development of professional service firms. He’s retired now, so I guess the things he had to say must have made sense to a lot of people, otherwise he’d probably still be at it. In a book he co-authored called “The Trusted Advisor”; David makes the following points regarding commonly expressed client concerns related to their advisors. I’ll paraphrase: They’re only interested in