Found $10k

Jun 29, 2010 | Growing Business | 0 comments

Bless the accounting systems. Found $10K today in wrong billing starting in March. Short story is this – I use a service from to give me global roaming. The cost is $120usd per year – cheap and good. But it seems for some reason RingCentral had a bug in their billing system. My account was due to renew annually and charge $120 dollars. RingCentral charged it to my card 1 but it’s system didn’t update. so, every day since March 25th, and I mean every day, their system billed my card $120. So, today we are looking over our costs, and Carsten notices this $10K accumulated charge to ring central.

So, instead of paying $120, I have paid $10k usd so far. So, this is exactly WHY I have been so desperate for a solid consolidated accounting system. was it not for the reporting the $10K would have just slipped by. You would think it would be noticed, but with the volume of transactions going through via cards it’s nearly impossible to catch small trickle charges. So, nice little success – things are starting to work as they should.

Beyond that I was 6 months late (yes 6 months) doing review with one of my reports. Completely unacceptable – glad no one is scoring me – I would be getting a ‘below accepted level’ on team management. But it’s done.

Clears off much of admin work and transferred daily bank cash movements and approvals to Carsten. We have two small issues with inventory system, which will get fixed.

On Monday we had our weekly senior mgmt meeting – and hammered out our priorities. I have 4 open job read now – and we are ready to push forward.

Gerry is fully into a/b testing and he is stumbled onto something quite good. Our v7 home page is out performing our v8 home page. By a LOT! Herr is to site tweaking.

I reached out to 6 people that are interested in doing a private label site with us. I want to bring one on board, just one, to see how this model could work. I see one that is quite interesting as it has products for china market and western markets – it could meet my need to get into the China Ecommerce and behind the learning meanwhile leveraging us and UK logistics.

we will be the ‘deal of the day’ on Amazon next month – it will be cool to seem what it does – their people are telling us it’s going to fly off the shelves. I say let it fly! 🙂

I got tired of all this frequent cash movements and tight cash flow so inject $K into the cash flow – so that we don’t have to chase this cash flow so tight.

Besides this i have dedicated these two weeks for Paul tune up. Away went coffee on week 1 – week two more poisons. So, both things make u feel tired before you get energy back – so i accepted the investment of less work for two week – expected return: next year full of energy. Just trying to make sure i don’t rip any heads or bruise any egos for next two weeks.

– Posted using BlogPress from my iPhone

Location:Jiangtai Rd,Beijing,China


Leave a Reply