To share some of the craziness that is my work life, here is a snapshot:
- Alarm goes off at 5:30am, snooze until about 6am. Get coffee, pretend I work for a viable firm, and log onto the computer.
- Check FB, email, and pretend I really don’t need to log onto the banks to see that we don’t have enough money.
- Log onto the work bank accounts to move money around to cover payroll and assure there are no bounced checks.
- Notice we have $12k in the general account, but are overdrawn $22k in the payroll account. I also notice my payroll check is one of the checks that is flagged to bounce. I transfer the $12k, knowing we will pay the smallest checks first to avoid nsf fees (which, in itself, is hilarious to me – we pay about $3,000 a month in NSF fees), and think how a bounced payroll check will mess up my budget.
- I log onto the other bank account and see that there is not enough to cover the $10k deficit. I look back at the payroll account and see more checks have been presented. Now reaching a $15k deficit.
- I realize that the owner just paid his buddy for the loan, one that really is “not essential” as he doesn’t report to credit bureaus and, quite frankly, all money needs to really go to payroll or food for business. This payment is for several thousand dollars and hurt us tremendously, but the owner didn’t “want to look bad or admit to his friend that we are having a short financial crunch”. Um, short? Well, I think, he will find out soon enough when his check bounces.
- I write an email to the boss, which I do every morning, listing the expected checks that will bounce as well as the expected COD shipments scheduled for the day. The deficit for the day is around $37k.
- I attached the ongoing list of IRS/EDD/SBOE debt that is past due FOR THIS YEAR ONLY, reminding the owner that any one of these entities can and probably would levy our accounts again (at least) or shut us down (at worst). This amount is over $800k. He says not to worry. I envision IRS officers storming the location where I work and wonder if they will have real bullets in their guns.
- I arrive at the office and already see the war wounds on the AP Bookkeeper, who has to field calls from angry vendors. The latest? One that was promised $17k from the boss and wants to pick up the cashiers check. I take the call, inform the vendor that unfortunately I cannot get the cashier’s check as there are not enough funds in the bank. He asks for a check and I respond, “well, I COULD write you a check, but it will bounce. So I will not be doing that.” “But [the boss] promised!” I hear. I say, “well, I am sorry. The reality of the situation is we cannot act on that promise.” I think he may have cussed at me at that point…….
- We receive about 20 calls indicating the boss told vendors that he was getting a loan and “would bring their account up-to-date”. Unfortunately, said loan has not appeared, I have no idea if it really will appear, and if it did we would not be able to meet those promises. You see, the loan is for $1mil, of which $100k goes right to the boss. Rumor on the street is that he is also planning to use about $200k to open a new location in Las Vegas. And remember the IRS/EDD/SBOE debt of over $800k? Doesn’t add up.
- On a side note, I remind the boss that he promised me $900k from the loan and I am concerned that several key people have shared about his supposed need for the LV money. He tells me that is not true, he only “needs a little”. I ask for the exact amount I will be getting. He doesn’t answer. I send the IRS/EDD/SBOE list again and tell him what vendors are telling me he is saying and that it will be impossible to pay anything towards their debt and that I am concerned he is setting up expectations with so many and that so many will be very angry when it doesn’t happen. I remind him that we get yelled at all day and that this is like putting gas on a fire. No response.
- I receive a call from our tax advocate, who was hired to negotiate the over million dollar debt we owe IRS/EDD for previous years. (That is for withholding taxes, not income taxes). She reminds me that she can’t negotiate as long as we continue not to pay. I tell her the boss won’t flag it and really, we don’t have the money anyway.
- The boss calls and tells me how sales are up and everything is hunky dory! He has been in the business all his life and we are the best locations in the world. I stare at the ceiling as he continues with his daily pep talk. The office phone rings and I am being flagged – it’s an angry vendor who wants to talk to me. I flag them to hold and continue to stare at the ceiling as the boss’s version of things unfolds in my ear.
- I receive another collection letter from an attorney, add it to the stack, and write an email to the boss indicating another lawsuit is in order.
- I print out the new Worker’s Comp policy for the boss to sign, along with the letter declaring we have been in violation of the law since he didn’t think to get coverage for the new locations he opened at the beginning of the year, under his second company name. He said it’s not a big deal. I write a check for the deposit, knowing it will bounce, and set it aside to mail.
- I go home and the cycle begins the next day.
Sigh. Gina out!