Meeting Title: Finance: AP Review Date: 2026-03-09 Meeting participants: Rico Rejoso, Elizah Joy, megan
WEBVTT
1 00:00:48.640 ⇒ 00:00:49.860 megan: Hello!
2 00:00:49.860 ⇒ 00:00:51.019 Rico Rejoso: Hey, guys.
3 00:00:51.020 ⇒ 00:00:52.750 Elizah Joy: Okay, hi guys.
4 00:00:53.460 ⇒ 00:00:54.900 megan: How were your weekends?
5 00:00:56.780 ⇒ 00:00:58.619 Rico Rejoso: Good, so far, how was yours?
6 00:01:00.110 ⇒ 00:01:14.449 megan: Good! I was, I went to, Florida Thursday and got back on Saturday, so it was a quick trip, but I went to go surprise one of my best friends for her baby shower, so she had no idea. It was a lot of fun.
7 00:01:14.450 ⇒ 00:01:15.520 Rico Rejoso: Whoa, it was great.
8 00:01:16.990 ⇒ 00:01:21.420 megan: Yeah, the weather was great, too. So, sunny, but not hot.
9 00:01:23.740 ⇒ 00:01:34.500 megan: Okay, so, let’s see… so we had talked about, going through the AP review process.
10 00:01:34.550 ⇒ 00:01:35.540 Rico Rejoso: Yes.
11 00:01:35.540 ⇒ 00:01:36.930 megan: Do I have that right?
12 00:01:37.290 ⇒ 00:01:37.860 Rico Rejoso: Yep.
13 00:01:38.330 ⇒ 00:01:39.140 megan: Okay.
14 00:01:39.490 ⇒ 00:01:43.469 megan: I can show you, you guys, what I’ve done,
15 00:01:43.840 ⇒ 00:01:49.969 megan: And you have a recurring weekly meeting at 2 p.m, so in 2 hours?
16 00:01:50.760 ⇒ 00:01:55.850 Rico Rejoso: No, in… Every Tuesday, yeah.
17 00:01:55.850 ⇒ 00:01:57.309 megan: On Tuesday, okay.
18 00:02:00.650 ⇒ 00:02:14.119 megan: this would probably be a good review. Well, why don’t I just, like, walk through, like, what I do today, and then we can kind of back into, like, what’s the,
19 00:02:14.270 ⇒ 00:02:19.630 megan: You know, what’s the process so far, just so we can make sure,
20 00:02:19.800 ⇒ 00:02:24.169 megan: you know, especially with UTAM not having,
21 00:02:25.170 ⇒ 00:02:32.240 megan: the… just so he’s informed, so that he… I’m guessing that, like, on the Tuesday, then the plan would be that
22 00:02:32.350 ⇒ 00:02:45.919 megan: You know, to give him a number that he’d feel comfortable and we’d know, you know, it’s kind of, like, greenlit for… so he can go in and prioritize any team payments and ramp.
23 00:02:45.950 ⇒ 00:02:47.170 Rico Rejoso: Yeah.
24 00:02:47.280 ⇒ 00:02:48.649 megan: Is that about what you were having?
25 00:02:49.460 ⇒ 00:02:57.680 Rico Rejoso: Yeah, I guess the goal is for every Tuesday when we meet with them, we already have the safe-to-pay amount, and the,
26 00:03:00.530 ⇒ 00:03:16.479 Rico Rejoso: AP that we can… or a list of team members that we can send out for, or we can pay for that week, along with the amount, and some could just, let us know, who to prioritize for that week. And you can send it out after confirming with them, after that meeting.
27 00:03:16.700 ⇒ 00:03:23.789 Rico Rejoso: Okay, so I guess, yeah, what we need are just the list, every week, and… and also…
28 00:03:24.110 ⇒ 00:03:25.449 Rico Rejoso: the safety pay amount.
29 00:03:27.160 ⇒ 00:03:28.180 megan: Yep, okay.
30 00:03:28.370 ⇒ 00:03:36.739 megan: Yeah, so I’ll… let me share my screen, and then I can sort of walk through. I’m sure there’s probably ways to improve this over time.
31 00:03:36.810 ⇒ 00:03:37.900 Rico Rejoso: Yeah, yeah.
32 00:03:38.160 ⇒ 00:03:42.769 megan: Yeah, but we’ll start with just what I’ve got so far, so…
33 00:03:43.050 ⇒ 00:03:48.069 megan: So here I’m logged into the Chase account, can you see this here?
34 00:03:49.920 ⇒ 00:03:53.790 megan: So I guess, like, a couple things, like…
35 00:03:53.990 ⇒ 00:04:04.329 megan: OpEx, and then… just because I’m here, I’m kind of looking at, like, where are we against the… Okay, so this is… there’s only, like, $118…
36 00:04:08.430 ⇒ 00:04:19.229 megan: Just looking at that now. But then, like, I saw that there… Utah must have already, been aware of that, because it looks like there’s a payment to the Chase card.
37 00:04:19.620 ⇒ 00:04:25.009 megan: Already, so, like, that’s one thing to look at, and that is the 299.
38 00:04:25.640 ⇒ 00:04:43.739 megan: So the first thing I look at, like, a lot of this comes down to, like, the timing of when payments are coming in and going out, and there’s a lot of cutoff pieces to be aware of. But the first thing that we do, like, we see we’ve got this as our
39 00:04:43.750 ⇒ 00:04:48.880 megan: current balance, and then there’s the pending activity, but we can’t really…
40 00:04:49.830 ⇒ 00:04:58.559 megan: make any payments right now. We’re going against this number, not the incoming, and, you know, not the available balance either.
41 00:04:58.900 ⇒ 00:05:05.889 megan: So, that’s… that’s 100% what has messed us up in the past, too.
42 00:05:06.010 ⇒ 00:05:11.860 megan: So, I’ve got out here, there’s a BrainForge AP worksheet.
43 00:05:11.990 ⇒ 00:05:18.679 megan: Which is in the finance folder. Let me see… I think if you just search for…
44 00:05:19.050 ⇒ 00:05:26.690 megan: Rain Forge AP Worksheet, then you can find it there, but it’s just out in one of these folders.
45 00:05:26.690 ⇒ 00:05:27.300 Rico Rejoso: Okay.
46 00:05:28.870 ⇒ 00:05:32.180 megan: So, the very first thing I’ll do is, like, go to…
47 00:05:32.720 ⇒ 00:05:37.179 megan: Oh, this was the wrong date. But this is, like, kind of a working…
48 00:05:38.900 ⇒ 00:05:47.239 megan: used for different things, so I would just copy this down, and change the date, which I didn’t do with the one up there.
49 00:05:47.510 ⇒ 00:05:54.000 megan: And then we kind of just, like, add these things, so I’m actually just gonna…
50 00:05:54.530 ⇒ 00:06:05.020 megan: So, some of these things, like, I’ve tried to flag some of the recurring things that we know, like there’s, a payroll which runs twice a month.
51 00:06:05.190 ⇒ 00:06:08.279 megan: And kind of, like, the estimated amount for that.
52 00:06:08.570 ⇒ 00:06:19.430 megan: the Amex loan, that has, I think, been paid off, but then these were some of the… We have…
53 00:06:24.010 ⇒ 00:06:37.109 megan: And then there’s, you know, there’s a couple various different Intuit lines of credit. So, pretty much just get that just from looking through, like, the prior ones, and then also
54 00:06:37.630 ⇒ 00:06:47.529 megan: going into QuickBooks, too, but, we’ll kind of go through each line. But first, we’ll start with, like, the settled balance that we have. I just copy in this amount.
55 00:06:47.780 ⇒ 00:06:54.009 megan: And then we’ve just got a… oops, ETA deposit.
56 00:06:54.160 ⇒ 00:07:05.060 megan: That was the 36,000 incoming, then we had outgoing for, the card payment. So I’ll just make those notes.
57 00:07:05.210 ⇒ 00:07:11.920 megan: So then basically what I’m doing is I’m coming up with an adjusted amount, which,
58 00:07:12.020 ⇒ 00:07:19.520 megan: You know, kind of regardless what week it is, we always want to make sure that we’ve got a little bit of reserves, in place.
59 00:07:19.550 ⇒ 00:07:37.550 megan: So that we can cover the next payroll, so that we can cover the, you know, kind of like the fixed things that we… that have also burned us in the past, is because we’ve had those recurring payments, and we just cut it way too close. So,
60 00:07:37.550 ⇒ 00:07:43.670 megan: So that’s kind of, like, how we come up with this, concept of a… you know.
61 00:07:44.090 ⇒ 00:07:59.049 megan: available balance. But then, the other issue we’ve had was the timing of RAMP payments. So, RAMP has different cutoffs, too. So, the other thing we have to look at is, in RAMP,
62 00:07:59.170 ⇒ 00:08:03.700 megan: So we have everything here, and you both have access to RAMP, right?
63 00:08:04.660 ⇒ 00:08:07.839 Rico Rejoso: I requested one, because I got… I mean.
64 00:08:08.100 ⇒ 00:08:12.249 Rico Rejoso: Carla did, or I don’t know who did it, but I lost my access in RAMP.
65 00:08:12.750 ⇒ 00:08:14.610 megan: Oh, Hoff.
66 00:08:15.550 ⇒ 00:08:22.309 megan: Okay, well, once we get through this, I’ll click around and see if I can help you out there.
67 00:08:24.310 ⇒ 00:08:27.159 megan: That’s… yeah, weird.
68 00:08:27.410 ⇒ 00:08:46.499 megan: So, anyway, we’ve got, like, the awaiting approvals, and then these are approved but not scheduled. So, in terms of priority, I generally kind of, look at, like, the unscheduled but approved as, like, those are probably the next wave, that are gonna get
69 00:08:46.700 ⇒ 00:08:53.200 megan: paid out. But then in… then we also have to look at what’s been initiated.
70 00:08:53.410 ⇒ 00:09:06.809 megan: So, where’s the payment date? Okay, so payment date, and then see how these have, like, all kinds of different payment dates, and there’s a bunch of… have been… looks like they were initiated…
71 00:09:06.950 ⇒ 00:09:16.940 megan: Today… So… I kind of have to just, like, check and see… Like, what…
72 00:09:17.060 ⇒ 00:09:23.729 megan: on here has already been withdrawn. Because of, like, the cutoff periods, it’s,
73 00:09:24.230 ⇒ 00:09:40.829 megan: like, I don’t know exactly at what point in the day do you submit it through RAMP and it gets withdrawn that day. It’s, like, definitely sometime in the morning, but at some point in the day, it pushes it to the next day. So I’m just gonna, like, look here and see, like, okay, well, we had
74 00:09:40.900 ⇒ 00:09:45.320 megan: these from March 6th, so it was, like, Ryan, Mustafa.
75 00:09:45.670 ⇒ 00:09:51.920 megan: Ryan, Mustafa, and the amount should all match, too. And Cassie.
76 00:09:53.190 ⇒ 00:09:56.230 megan: So those are all initiated.
77 00:09:56.850 ⇒ 00:10:04.840 megan: And withdrawn… Ryan, Mustafa… it looks like all of these that are the 9th…
78 00:10:05.080 ⇒ 00:10:12.180 megan: So that’d be Rico, Eliza, Weish… Ann, and Lubka…
79 00:10:12.450 ⇒ 00:10:17.469 megan: So we’ve got, like, this amount that hasn’t been withdrawn from the account yet.
80 00:10:18.110 ⇒ 00:10:20.509 megan: But it looks like they’re,
81 00:10:21.130 ⇒ 00:10:36.559 megan: you know, already going. So those will come out. See, this is… this one’s already, like, cutting it a little close, but for… because if those payments would have gone out and been withdrawn today, we would have overdrawn again, because
82 00:10:36.770 ⇒ 00:10:43.439 megan: This is real, you know, this is showing there’s 6.5K, but this should be okay?
83 00:10:44.160 ⇒ 00:10:45.830 megan: Oops.
84 00:10:46.070 ⇒ 00:10:49.980 megan: I have to make this a negative number, because it’s money going out.
85 00:10:59.060 ⇒ 00:11:03.370 megan: So, now I’m… now that I see that we’ve got
86 00:11:03.770 ⇒ 00:11:08.700 megan: Those, there’s really not an automated way to do this.
87 00:11:09.380 ⇒ 00:11:12.270 megan: So…
88 00:11:14.250 ⇒ 00:11:21.109 megan: Yeah, then I can see now that, like, okay, that kind of gives us… if I take our current balance.
89 00:11:21.290 ⇒ 00:11:27.380 megan: you know, plus that CTA deposit, and then, you know, the other pending activity that we see.
90 00:11:27.690 ⇒ 00:11:37.289 megan: So it’s, like, 25K is, like, kind of going to be that adjusted balance, but then I want to hold back some for, these other things, upcoming payroll.
91 00:11:37.420 ⇒ 00:11:39.300 megan: And,
92 00:11:39.420 ⇒ 00:11:54.190 megan: you know, the… like, this is really just kind of a buffer, so that it doesn’t get too low, like, that’s… it’s just kind of subjective, be aware of it. I’m actually gonna go and look if there…
93 00:11:54.770 ⇒ 00:11:56.040 Rico Rejoso: Those are fixed, right?
94 00:11:57.500 ⇒ 00:11:59.600 megan: Yes, exactly.
95 00:12:00.290 ⇒ 00:12:00.820 Rico Rejoso: Okay.
96 00:12:00.820 ⇒ 00:12:09.460 megan: And the credit card payment is, like, that’s a minimum payment. That does change each month, so we could look at that.
97 00:12:09.620 ⇒ 00:12:13.779 megan: to, most of those…
98 00:12:13.890 ⇒ 00:12:20.310 megan: recurring payments are gonna be, like, in the first couple days. It’s kind of like some of these…
99 00:12:20.550 ⇒ 00:12:28.649 megan: And then one of them, I think… they… they’ve changed a little bit over time, but I was… when I was looking at it last, I was like, okay, there’s…
100 00:12:29.020 ⇒ 00:12:32.149 megan: Line of credit is still about right.
101 00:12:32.310 ⇒ 00:12:38.499 megan: But, yeah, so then, pretty much what that tells me is that
102 00:12:38.700 ⇒ 00:12:44.499 megan: We’ve got up to this amount that can be scheduled out.
103 00:12:44.610 ⇒ 00:12:53.149 megan: So about, like, 14,000, even… maybe even, say, like, 13,000, like, just to be really safe on it.
104 00:12:53.250 ⇒ 00:12:56.210 megan: But then, like…
105 00:12:56.440 ⇒ 00:13:07.999 megan: So how I’ve done it before, when we were really… well, I guess when we had a bit of a smaller team and, we could, you know, kind of stand to go line by line, I would actually, like.
106 00:13:08.150 ⇒ 00:13:21.370 megan: bring, ev- like, you know, kind of just do an export from here, and then we would actually, like, prioritize… I mean, you can see how much more there is in here of notes.
107 00:13:21.620 ⇒ 00:13:25.889 megan: So, I don’t know exactly, like, how…
108 00:13:26.080 ⇒ 00:13:37.670 megan: much more we need to do, but, or, like, how exact we need to be. But I’m just gonna look at, like, the total here.
109 00:13:38.240 ⇒ 00:13:49.440 megan: So it’s kind of like… This is the… Approved… unscheduled…
110 00:13:50.430 ⇒ 00:13:53.310 megan: I’m just gonna make, like, a little bit of a note here.
111 00:13:53.830 ⇒ 00:14:02.289 megan: I’m just trying to get a sense of, like, how much is left to go through, because we’re, like, pretty far behind at this point.
112 00:14:02.590 ⇒ 00:14:09.409 megan: And then… This amount is awaiting approvals.
113 00:14:15.340 ⇒ 00:14:17.849 megan: Oh, actually, I’ll just text this down.
114 00:14:20.980 ⇒ 00:14:30.819 megan: So, pretty much, like, then what that would mean is that, like, if we were… just to give you an example, you know, I…
115 00:14:30.900 ⇒ 00:14:47.699 megan: And sometimes I think he’ll… he’ll bump some things from the current month, but generally, I kind of assume that, like, this bucket of unscheduled is kind of, like, the next in line, so it would be kind of like just some, combination of
116 00:14:48.070 ⇒ 00:14:59.960 megan: whatever these were, and then if we, like, if we wanted to add in, I had flagged some of these to him that I don’t know, like, some of these are really old, like, these three?
117 00:14:59.960 ⇒ 00:15:03.079 Rico Rejoso: I don’t even know if we’re planning to pay those out.
118 00:15:03.450 ⇒ 00:15:06.119 megan: I don’t really know what we should do with those, I guess.
119 00:15:07.030 ⇒ 00:15:14.970 megan: So, but, I mean, they’re all in ramp, so I know Utam has seen them. But so, like…
120 00:15:15.280 ⇒ 00:15:23.309 megan: So, I don’t know if we just skipped those, but we could put in here and say, like, okay, if we’re gonna pay out,
121 00:15:23.640 ⇒ 00:15:29.380 megan: you know, like, Robert has all these reimbursements, just kinda, are we gonna… Add up, like.
122 00:15:29.670 ⇒ 00:15:33.690 megan: I’m just showing you, kind of, what it could be.
123 00:15:34.220 ⇒ 00:15:37.409 megan: If you wanted to be, like, really safe and say.
124 00:15:38.400 ⇒ 00:15:42.249 megan: But this has to be a negative, because it would be money going out.
125 00:15:42.810 ⇒ 00:15:47.990 megan: Like, if we were gonna say Robert’s reimbursements, and then…
126 00:15:48.500 ⇒ 00:15:53.680 megan: Yeah, if we wanted to say, like, these… to Leo Luna…
127 00:15:54.950 ⇒ 00:15:58.509 megan: Just make that a negative, like, that would…
128 00:16:01.020 ⇒ 00:16:05.629 megan: That would pretty much, like, use up that whole amount.
129 00:16:06.400 ⇒ 00:16:11.049 megan: And then these, you don’t have to worry about. This is just kind of math that I’ve been…
130 00:16:11.160 ⇒ 00:16:22.739 megan: that I do sometimes when I go in and I look at, like, okay, well, if we… how much more money is, I don’t expect you guys to do this part of thing, like, this is definitely more my…
131 00:16:25.210 ⇒ 00:16:32.569 megan: my stuff that we would need to do, but basically what I would do is kind of look at, like, okay, after we process those payments.
132 00:16:32.580 ⇒ 00:16:48.029 megan: then, you know, we still owe this amount, but we’ve got, like, customers owe us this amount, and these numbers haven’t been updated. But basically, I’m just trying to use that to see, like, how…
133 00:16:48.080 ⇒ 00:16:55.170 megan: You know, deep in the hole we are, because ultimately we need to get this number up over 1.
134 00:16:55.280 ⇒ 00:17:00.900 megan: It’s been around, like.6, if not lower, for pretty much ever.
135 00:17:01.070 ⇒ 00:17:17.950 megan: So that’s the goal, is that until we can get liquidity up over a ratio of 1, we’re going to continue having this, liquidity crunch. So that’s just an example of how you can look at, you know, everything.
136 00:17:18.109 ⇒ 00:17:23.200 megan: That would still be… outgoing, so…
137 00:17:24.410 ⇒ 00:17:30.370 megan: Yeah, I know that was super fast, but… Any questions, or…
138 00:17:31.330 ⇒ 00:17:34.170 megan: Is it confusing? Like, how can I help?
139 00:17:36.540 ⇒ 00:17:37.650 Rico Rejoso: Yeah,
140 00:17:38.300 ⇒ 00:17:51.389 Rico Rejoso: Can… so we’re gonna refer to RAMP first, then put in all the approved ramp… all that are in RAMP under approved RAMP payments, right? So, what are the… those are for unscheduled, right?
141 00:17:51.510 ⇒ 00:17:53.860 Rico Rejoso: So our priority would be the unscheduled first.
142 00:17:55.530 ⇒ 00:17:58.419 megan: I, I think so. I mean.
143 00:17:58.490 ⇒ 00:18:13.359 megan: if the way that Utam wants to manage it is just by, like, you know, he gets an approved number of payments that he can send out, then it’s just a matter of, like, coming up with the right payments. At one point in time, he was wanting to
144 00:18:13.370 ⇒ 00:18:26.249 megan: see, kind of everything, like, if we go back to 2025. He was wanting to see, like, everything so that he could kind of, you know, say, like, okay, we’re holding this back.
145 00:18:26.370 ⇒ 00:18:31.839 megan: Or we’re processing it, or we’re approving it, and then that’s what we would actually process based on.
146 00:18:32.190 ⇒ 00:18:36.920 megan: But more recently, he’s… Just in ramp.
147 00:18:36.940 ⇒ 00:18:44.310 megan: which I think is fine, it’s just a matter of giving him a conservative number that isn’t gonna blow through
148 00:18:44.320 ⇒ 00:19:00.310 megan: And then I think if we’ve got, like, a little bit more of that structure, then we can, you know, get into a habit of just processing once a week, because trying to do it on a day-to-day basis just… that seems to be when we’ve gotten in
149 00:19:00.470 ⇒ 00:19:09.110 megan: trouble, because, you know, there’s… there’s just so many moving pieces. So even, like, this ramp, like, like, we…
150 00:19:09.180 ⇒ 00:19:15.340 megan: Just now, when we were going through this, we had to look at… we had to add back in all these initiated payments.
151 00:19:15.340 ⇒ 00:19:30.899 megan: Because they haven’t gone out of the bank yet. But if we’re in a habit of only doing, processing payments once a week, then there wouldn’t be anything initiated. Like, we would be able to skip that step. It would be a little bit more straightforward, I guess is what I’m saying.
152 00:19:31.230 ⇒ 00:19:39.079 megan: But the problem is, like, when things have been initiated, but they’ve run after the cutoff, then, you know.
153 00:19:39.310 ⇒ 00:19:48.720 megan: then we’ve ended up, you know, overdrawing the account just solely based on timing alone. So, just a little tricky to manage that way.
154 00:19:49.120 ⇒ 00:19:49.880 Rico Rejoso: I agree.
155 00:19:50.250 ⇒ 00:20:08.149 Rico Rejoso: Yeah, and maybe we can have everyone listed on the approved ramp payments column, have everyone listed, so we can just, like, note their if they’re good, approved, or been paid out already, so, like, every, every Tuesday, once we meet with UTOM, we just have to present him, like, hey, here are the folks
156 00:20:08.190 ⇒ 00:20:10.549 Rico Rejoso: That are, unscheduled.
157 00:20:11.990 ⇒ 00:20:23.789 Rico Rejoso: the amounts, let us know which one would you like, and here’s the safe amount that we can pay out, right? Then you could just tell us, prior this, prior this one, second in line is this, like, what we’ve done before, right?
158 00:20:24.620 ⇒ 00:20:31.360 Rico Rejoso: then maybe we can do it, like, yeah, weekly would be… would be best for now, right? So we can have everything,
159 00:20:31.700 ⇒ 00:20:34.789 Rico Rejoso: We can get a sense and overview of everything, Chris.
160 00:20:35.100 ⇒ 00:20:41.479 Rico Rejoso: Before we, decided, you know, prior, which one or who should be, scheduled for this week.
161 00:20:43.260 ⇒ 00:20:45.170 megan: Yeah, I think that’s exactly right.
162 00:20:46.540 ⇒ 00:21:01.049 megan: So, yeah, so we pretty much have done it for now, and that was a more complicated one, just because of all of the initiated payments, and then all the dates are all over the place, too. So, that one’s a little bit more complicated.
163 00:21:01.230 ⇒ 00:21:07.640 megan: So, yeah, and then we probably need to make some more room on the credit card payment.
164 00:21:07.890 ⇒ 00:21:26.720 megan: But we’ve already… see, we’ve already got that factored in. I know the payment isn’t due until the 24th, but the… it’s just… it’s just good to have a buffer. Otherwise, we just end up running it way too low, and then it’s like, oh, we forgot we have a new Intuit line of credit that we didn’t factor in, and then…
165 00:21:26.780 ⇒ 00:21:45.340 megan: you know, we missed it, so… and then it gets overdrawn that way. So, there’s so many things that could happen, it’s just good to have, like, this buffer instead of, instead of using this amount, which I know Utom has in the past, he’ll just look at this and be like, oh, cool, I can process 40K.
166 00:21:45.340 ⇒ 00:21:49.159 megan: But it’s like, technically you can, but…
167 00:21:49.180 ⇒ 00:22:01.649 megan: are we gonna hold back payroll? Are we gonna have enough money on the credit card? You know, and then… because these are kind of the things that, like, we just get in a little bit more trouble if we miss them.
168 00:22:02.880 ⇒ 00:22:03.810 megan: So…
169 00:22:04.170 ⇒ 00:22:04.949 Rico Rejoso: Got you.
170 00:22:05.200 ⇒ 00:22:08.930 Rico Rejoso: Okay… The credit card payment,
171 00:22:09.490 ⇒ 00:22:11.820 Rico Rejoso: Wait, let me… where’s the annotator?
172 00:22:13.370 ⇒ 00:22:18.220 Rico Rejoso: I mean, the 2,000, and the other 2,000 credit card payments.
173 00:22:18.490 ⇒ 00:22:21.520 Rico Rejoso: I think we should, break all that.
174 00:22:24.420 ⇒ 00:22:29.120 Rico Rejoso: Not exactly the exact, the ex… okay, it’s a thousand. Alright.
175 00:22:29.630 ⇒ 00:22:47.609 megan: Yeah, there’s a thousand payment that’s been made. So the problem with the credit card, is just the… we just keep carrying a balance, you know? Like, we’re not… we’re not yet in a habit where we’re paying it off completely, we’re kind of just making, like, throwing 1K, 2K, 3K at it.
176 00:22:47.740 ⇒ 00:22:58.339 megan: Every couple weeks, so, you know, that’s just kind of how it is. But you can see, like, the recent purchases is a lot smaller.
177 00:23:01.880 ⇒ 00:23:10.429 megan: So, yeah, but it looks like he’s already got that. So, for the ops review, that might also be something to review on a weekly basis?
178 00:23:10.900 ⇒ 00:23:26.269 megan: If we’re looking at payments anyway, I think that would be a good call, just kind of, like, add that to your agenda, along with the… And then it’s kind of factored into… it’s not just, like, the team payments, and it’s like, okay, how much of that 14K
179 00:23:26.270 ⇒ 00:23:36.560 megan: that is safe to go out, how much of that needs to go to the credit card? Because sometimes the available credit is a lot higher, but it’s just too tight right now.
180 00:23:36.890 ⇒ 00:23:38.900 Rico Rejoso: But, I mean, we have the…
181 00:23:39.290 ⇒ 00:23:46.750 Rico Rejoso: credit card payments, factored in into the spreadsheet that we had, right? I mean, we have the $1,000 and the 2K.
182 00:23:46.900 ⇒ 00:23:47.730 Rico Rejoso: Already.
183 00:23:47.730 ⇒ 00:23:48.560 megan: Yeah.
184 00:23:48.840 ⇒ 00:24:01.530 megan: Yeah, exactly. At one point in time, there was a minimum due, which we don’t have right now, but if you go to the statements, that’s where you would see, let’s see, here’s the most recent one.
185 00:24:03.680 ⇒ 00:24:11.859 megan: So, you would see there’s a minimum payment due. So, this balance used to be a lot higher, but then I think they brought the,
186 00:24:12.980 ⇒ 00:24:20.580 megan: Like, see, for instance, the last statement, there’s 2,200 in purchases on this card,
187 00:24:20.960 ⇒ 00:24:29.029 megan: I think, is there another credit card, too? I feel like there’s another… The Amex, maybe?
188 00:24:29.370 ⇒ 00:24:31.600 Rico Rejoso: Yeah, that’s what I have, Amex in the city.
189 00:24:32.130 ⇒ 00:24:37.770 megan: Yeah, exactly. So, so I think that other amount,
190 00:24:38.360 ⇒ 00:24:40.440 megan: Yeah, the Amex in the city.
191 00:24:41.300 ⇒ 00:24:42.510 megan: So…
192 00:24:42.510 ⇒ 00:24:45.499 Rico Rejoso: Yeah, I don’t have access to Chase… to the Chase one.
193 00:24:46.290 ⇒ 00:24:48.750 Rico Rejoso: So I don’t know if I can you know.
194 00:24:48.860 ⇒ 00:24:58.869 Rico Rejoso: if we were… that’s why I’m asking if these are fixed, we can just copy this moving forward every week, right? Or if you need to, like, put in room, like…
195 00:24:59.160 ⇒ 00:25:00.600 Rico Rejoso: Instead of 2K.
196 00:25:01.270 ⇒ 00:25:04.640 Rico Rejoso: Make it 2.5, just to make sure that we have enough room for it.
197 00:25:06.000 ⇒ 00:25:18.770 megan: Yeah, so it does change, so as you see now, like, the minimum payment is 13,400 on it.
198 00:25:19.110 ⇒ 00:25:26.619 megan: So, that’s… that’s kind of the bigger consideration, is, like, making sure that we keep
199 00:25:26.860 ⇒ 00:25:39.730 megan: below the credit, which is what that 1K was. So yeah, there… we probably need to, like, factor in something for… I don’t think I have access to the Amex account, but I know you do, Rico, since you send over the statements each month.
200 00:25:39.730 ⇒ 00:25:49.879 megan: But that would be another one, is kind of like, look at this. So, at one point in time, the Chase card, like, the Citi card, did have a minimum payment.
201 00:25:51.180 ⇒ 00:26:02.230 megan: of 1774, so that has definitely changed. But then, obviously, I think I got that 2216 amount from the activity.
202 00:26:02.510 ⇒ 00:26:06.230 megan: Which is pretty close to what the purchases are.
203 00:26:06.430 ⇒ 00:26:07.870 megan: for that card.
204 00:26:08.530 ⇒ 00:26:15.910 megan: So, yeah, it’s kind of… so that one, and then the Amex, yeah, I think we probably…
205 00:26:16.600 ⇒ 00:26:21.530 megan: Would want to have, like, at least some reserve amount there. Probably the same thing.
206 00:26:26.730 ⇒ 00:26:27.720 megan: Or…
207 00:26:29.060 ⇒ 00:26:41.060 megan: So that way, there’s at least something there. So yeah, maybe… maybe the approved payments are more like 12.5. And keep in mind, this is a super conservative approach, you know, like.
208 00:26:42.080 ⇒ 00:26:49.500 megan: It’s… it’s just designed so that we don’t overdo it, because we’ve had a history of that, unfortunately, so…
209 00:26:49.500 ⇒ 00:26:50.829 Rico Rejoso: I mean, that’s the best, yeah.
210 00:26:51.240 ⇒ 00:26:52.110 megan: Yeah.
211 00:26:52.400 ⇒ 00:26:53.010 Rico Rejoso: Okay.
212 00:26:54.030 ⇒ 00:27:02.560 Rico Rejoso: Alright, and also, maybe you want to factor out how… where can we… is… I mean, is all the AR also coming in Chase?
213 00:27:03.610 ⇒ 00:27:04.360 Rico Rejoso: Because you also.
214 00:27:04.360 ⇒ 00:27:05.040 megan: all the…
215 00:27:05.780 ⇒ 00:27:10.170 Rico Rejoso: I mean, the… AR from our clients.
216 00:27:10.620 ⇒ 00:27:14.760 Rico Rejoso: So you also want to factor out, like, here are the upcoming payments that we will be receiving.
217 00:27:15.260 ⇒ 00:27:19.369 Rico Rejoso: one we have is CDA, right? Then, I just want to make sure that
218 00:27:19.580 ⇒ 00:27:22.449 Rico Rejoso: We also informed with them, if we’re gonna do a finance
219 00:27:22.940 ⇒ 00:27:28.579 Rico Rejoso: same review every, every week. Might as well include how much we’re gonna receive that week.
220 00:27:28.730 ⇒ 00:27:32.329 Rico Rejoso: How much is the available balance? How much are, we can pay out?
221 00:27:32.530 ⇒ 00:27:33.060 Rico Rejoso: Two teams.
222 00:27:33.060 ⇒ 00:27:39.770 megan: Yeah, that’s where we would need to go into, into QuickBooks and get the current AR report.
223 00:27:40.780 ⇒ 00:27:44.159 megan: So, keep in mind that,
224 00:27:44.280 ⇒ 00:27:49.230 megan: AR report is… like, you can just pull a standard report.
225 00:27:49.910 ⇒ 00:28:00.709 megan: This will show… you could do accounts receivable aging summary, or we could do… we could look at the aging detail, because that’ll actually show us the due dates.
226 00:28:01.180 ⇒ 00:28:06.249 megan: And then this will kind of say, like, okay, every… there’s these that are…
227 00:28:06.430 ⇒ 00:28:16.210 megan: Well, some of these, I think, are showing as past due, but I think, because the bookkeeper is out, so I think some of these deposits aren’t mapped.
228 00:28:16.610 ⇒ 00:28:21.730 megan: But… but yeah, here’s where you would get a sense of, like.
229 00:28:21.870 ⇒ 00:28:29.539 megan: Like, we know that there’s, yeah, $195K coming in, but then…
230 00:28:29.920 ⇒ 00:28:33.380 megan: like, I know some of that, like, if I go to Accounting.
231 00:28:33.550 ⇒ 00:28:39.569 megan: Bank transactions, I don’t think she’s mapped everything in the Chase account.
232 00:28:41.020 ⇒ 00:28:45.170 megan: Oh, that’s Chase Credit Card. Got so many accounts.
233 00:28:45.870 ⇒ 00:28:49.799 megan: Yeah, see, there’s, like, 10 transactions that haven’t been mapped.
234 00:28:50.490 ⇒ 00:28:56.429 megan: So, this is usually kept up, but I think she’s out for a couple days, and so…
235 00:28:56.570 ⇒ 00:29:04.189 megan: Yeah, I need to find out from Kinsey, like, when that’s gonna happen, but I just leave this to… for,
236 00:29:05.500 ⇒ 00:29:18.239 megan: to review. So it’s just something to be aware of, too. Like, you know, there’s two… there’s a magic spoon in that, default payment. Like, I can see pretty easily that it’s just those two.
237 00:29:18.820 ⇒ 00:29:23.910 megan: So, if I go back in, then, like, technically I would know.
238 00:29:24.170 ⇒ 00:29:26.959 megan: that it would be, like…
239 00:29:27.170 ⇒ 00:29:29.970 megan: This amount should be coming in.
240 00:29:30.790 ⇒ 00:29:42.049 megan: Then I could go back in here, but I know that’s got, like, 20,000. So, current outstanding AR is from 57…
241 00:29:45.670 ⇒ 00:29:47.590 megan: HDR…
242 00:29:52.940 ⇒ 00:29:55.050 megan: Like, I would add this in.
243 00:29:56.660 ⇒ 00:29:59.490 megan: 96150…
244 00:30:02.750 ⇒ 00:30:08.089 megan: Doom… But that 10K, I got back out that 10K…
245 00:30:11.820 ⇒ 00:30:17.439 megan: Because I know that money’s in the bank, but it hasn’t showed up on this report yet.
246 00:30:19.170 ⇒ 00:30:23.159 megan: And then, kind of same here with that magic spoon.
247 00:30:23.910 ⇒ 00:30:30.589 megan: So, 88262.5… plus 1250.
248 00:30:30.690 ⇒ 00:30:38.499 megan: So it’s kind of showing me the aged AR and current AR. If I could do the math right, that would be helpful.
249 00:30:40.690 ⇒ 00:30:47.089 megan: But yeah, so that’s kind of where you would get all that info. And then down here is where I’ve really
250 00:30:47.220 ⇒ 00:30:51.410 megan: You know, pulling all of that, you know.
251 00:30:51.910 ⇒ 00:30:56.000 megan: Current… oh wait, this is expected to invoice this month.
252 00:30:58.440 ⇒ 00:31:02.230 megan: D7… Oh.
253 00:31:03.470 ⇒ 00:31:04.400 megan: Loss.
254 00:31:05.400 ⇒ 00:31:09.020 megan: Yeah, it’s, it’s a tough question to answer.
255 00:31:09.210 ⇒ 00:31:18.930 megan: You know? So… but then, this basically tells me that, okay, well, we’ve got the current money in the bank.
256 00:31:19.040 ⇒ 00:31:21.280 megan: the expected deposits…
257 00:31:21.790 ⇒ 00:31:29.780 megan: And then, I guess technically I need to take… because I’m double counting this 36K, so I gotta technically take that out.
258 00:31:30.180 ⇒ 00:31:32.360 megan: Of the aged amount.
259 00:31:32.860 ⇒ 00:31:37.660 megan: So… It’s looking better than the red that it was.
260 00:31:38.160 ⇒ 00:31:45.790 megan: So this is basically telling me, like, okay, I know that in RAMP, we’ve got $160K in payments.
261 00:31:45.900 ⇒ 00:31:52.880 megan: I know our adjusted available balance is 140,000.
262 00:31:53.080 ⇒ 00:31:56.559 megan: In money that should be coming in.
263 00:31:56.910 ⇒ 00:32:12.000 megan: And, you know, that’s… this is definitely, like, so if all that goes perfectly, and we get all that money in, like, you know, today, then we’re much closer… like, this number was, like.6 something.
264 00:32:12.480 ⇒ 00:32:25.749 megan: So to see a .95 is better, but again, like, how much of that, in QuickBooks is, like, I mean, some of this stuff isn’t due until the end of the month, so…
265 00:32:27.330 ⇒ 00:32:45.380 megan: Yeah, that’s just kind of… but still, I mean, we’re much closer than we have been, it’s just, like, how do we round that corner? But that’s kind of, like, all the different inputs and all the different places that kind of need to be referenced to really get, like, a current
266 00:32:45.460 ⇒ 00:32:52.950 megan: As of right this moment, you know, here’s where we are, and money coming in, money going out.
267 00:32:55.310 ⇒ 00:32:59.819 Rico Rejoso: Okay, so we can expect, like, if we’re gonna report for this month for the month of…
268 00:33:00.680 ⇒ 00:33:02.360 Rico Rejoso: This one is for March, right?
269 00:33:02.770 ⇒ 00:33:05.100 Rico Rejoso: Or this one is too different, okay.
270 00:33:05.580 ⇒ 00:33:07.250 megan: Yeah, this is as of today.
271 00:33:07.830 ⇒ 00:33:09.899 Rico Rejoso: Right, we’re expecting 96K.
272 00:33:10.340 ⇒ 00:33:13.880 Rico Rejoso: But our available balance around 12K, right?
273 00:33:14.160 ⇒ 00:33:16.930 Rico Rejoso: Which is saved through… saved through,
274 00:33:17.350 ⇒ 00:33:20.040 Rico Rejoso: Which is the safe amount that we can set out.
275 00:33:20.560 ⇒ 00:33:22.070 megan: Yep, exactly.
276 00:33:22.070 ⇒ 00:33:22.960 Rico Rejoso: That’s what we said.
277 00:33:22.960 ⇒ 00:33:23.730 megan: No.
278 00:33:23.840 ⇒ 00:33:32.579 megan: That’s what we know we can send without, like, messing up anything else for the next week, and having that little bit of reserve, so yeah.
279 00:33:33.070 ⇒ 00:33:47.400 Rico Rejoso: So we’ll probably have to create a copy of this one for our weekly reviews, and also update it accordingly. So, we’ll see. Since you’re using this one, right, we can create a different copy.
280 00:33:47.780 ⇒ 00:33:49.519 Rico Rejoso: For the spreadsheet.
281 00:33:49.880 ⇒ 00:33:52.769 Rico Rejoso: Just to make sure not to mess up anything that you’re doing here.
282 00:33:53.560 ⇒ 00:34:05.140 megan: Yeah, and if you want to do that, that’s fine, and if you want me to look at, you know, the one for next week, just to, you know, just to have a second set of eyes, I’m happy to do that, too.
283 00:34:05.310 ⇒ 00:34:11.959 megan: So, just let me know. But… and like I said, like, there’s probably… there’s probably, you know.
284 00:34:12.070 ⇒ 00:34:21.269 megan: ways to improve the process. That’s just been how I’ve been figuring it out. It’s by… it’s, you know, certainly not a perfect process, but.
285 00:34:21.270 ⇒ 00:34:22.430 Rico Rejoso: No worries.
286 00:34:22.429 ⇒ 00:34:34.230 megan: Yeah, so if you’ve got ideas on how we can, you know, kind of improve it, then that would also be good. But yeah, I’m happy to help. I like the idea of doing this more consistently. I think
287 00:34:34.330 ⇒ 00:34:47.169 megan: You know, doing that will definitely cut down on some of the blunders that we’ve had with trying to manage it, you know, much more, you know, day-to-day, because that’s where we’ve gotten in trouble.
288 00:34:48.050 ⇒ 00:35:05.949 Rico Rejoso: Yeah, we’ll create a process around this, maybe try to do it a recurring process every week, every Monday, and we might have to ping you every Monday as well, just to check and make sure that we got everything correct, especially numbers for our available balance before we meet with you, Tom, until such time that we, you know, got everything here.
289 00:35:06.070 ⇒ 00:35:09.250 Rico Rejoso: process… I mean, we got the process correct.
290 00:35:09.590 ⇒ 00:35:23.230 Rico Rejoso: Every now and then, or every week that we check it, okay? So, we also create a documentation around this one for you to check, because our goal is to make sure that we have a playbook or an SOP for every process that we’re working on, especially this
291 00:35:23.680 ⇒ 00:35:26.860 Rico Rejoso: This one that includes checking a variety of places.
292 00:35:27.460 ⇒ 00:35:28.120 megan: Yes.
293 00:35:28.120 ⇒ 00:35:30.539 Rico Rejoso: RAMs, QuickBooks, and stuff, right?
294 00:35:32.200 ⇒ 00:35:33.870 megan: Yep, yep, exactly.
295 00:35:33.870 ⇒ 00:35:42.950 Rico Rejoso: Yeah, we’ll create a copy within today, send this out to, send this out to you, for you to check, before we,
296 00:35:43.060 ⇒ 00:35:46.779 Rico Rejoso: Add this to our agenda for our meeting, tomorrow we do them, okay?
297 00:35:47.330 ⇒ 00:35:47.950 megan: Okay.
298 00:35:48.090 ⇒ 00:35:53.610 megan: Yeah, that sounds great. Let me just check on your, access here real quick.
299 00:35:54.680 ⇒ 00:35:59.670 megan: Oh, and Eliza, I don’t see you in here either. Should I go ahead and set you up?
300 00:36:00.360 ⇒ 00:36:03.169 megan: Let’s see what’s going on with Rico.
301 00:36:03.790 ⇒ 00:36:08.359 Rico Rejoso: Yeah, disregard mine. I, I was trying to access there earlier, I guess.
302 00:36:08.890 ⇒ 00:36:09.490 megan: Okay.
303 00:36:09.490 ⇒ 00:36:12.880 Rico Rejoso: I just need the code. I’ll update you if I ever need assistance for that.
304 00:36:13.480 ⇒ 00:36:19.279 megan: Okay, and Eliza, I will set you up. What’s your email?
305 00:36:19.700 ⇒ 00:36:23.129 Elizah Joy: Eliza… That pinned it.
306 00:36:23.510 ⇒ 00:36:25.350 Elizah Joy: And then the Brain Forge.
307 00:36:25.990 ⇒ 00:36:27.760 megan: Oh, it’s just Eliza at Rainforeidge.
308 00:36:28.220 ⇒ 00:36:30.770 Elizah Joy: Eliza.pineda.
309 00:36:30.900 ⇒ 00:36:32.710 Elizah Joy: Let me send it here.
310 00:36:33.030 ⇒ 00:36:33.860 megan: Oh, yeah.
311 00:36:45.800 ⇒ 00:36:46.560 Elizah Joy: Okay.
312 00:36:49.160 ⇒ 00:36:50.410 megan: Thank you.
313 00:36:53.030 ⇒ 00:36:56.659 megan: Okay, huh, why doesn’t it let me…
314 00:36:59.970 ⇒ 00:37:00.650 megan: Huh.
315 00:37:03.630 ⇒ 00:37:05.150 megan: Why?
316 00:37:06.040 ⇒ 00:37:08.790 megan: That’s not what I want to do.
317 00:37:10.910 ⇒ 00:37:12.700 megan: Oh, hold on, let me try again.
318 00:37:18.320 ⇒ 00:37:21.260 megan: Okay, well, I guess I’ll be there.
319 00:37:21.610 ⇒ 00:37:23.440 megan: Department…
320 00:37:43.230 ⇒ 00:37:49.519 megan: Make sure I’ve got… Okay, that should get you what you need to see.
321 00:37:51.160 ⇒ 00:37:53.839 megan: So, yeah, that will get you in.
322 00:37:54.190 ⇒ 00:38:08.300 megan: You should get an email, and, yeah, let me know if you have any questions getting in, and Rico, if you… your profile is active, so, probably just need to reset the password or whatever you need to do, but you’re both in there.
323 00:38:08.920 ⇒ 00:38:15.019 Rico Rejoso: Gotcha. Yep, just a heads up, we’ll be picking you later on if we have any questions in regards to that.
324 00:38:16.340 ⇒ 00:38:17.840 megan: Okay. Yeah, but we’re good for now.
325 00:38:18.640 ⇒ 00:38:27.470 megan: Sounds good. I really appreciate you guys putting more structure on this. I think it’s very, very needed, so thank you for leading that.
326 00:38:28.320 ⇒ 00:38:30.150 Rico Rejoso: Definitely. Thank you, Megan.
327 00:38:30.740 ⇒ 00:38:32.969 megan: Okay, sounds good, I’ll talk to you soon.
328 00:38:32.970 ⇒ 00:38:34.429 Rico Rejoso: Alright, have a good one.
329 00:38:34.430 ⇒ 00:38:35.040 megan: Bye.