TOTO
New Member
You are just PEACHY KEEN!
I was once BLIND, but now can SEE!
Good FORE YOU on having finally figured it all out!
Sadly, the majority of accountants don't have a clue as to the proper reconciliation of a WS statement. Facts be known, they're just TOO LAZY or TOO BUSY to spend the time it would take to FIGURE IT ALL OUT.
Which is why, they all take the EASY WAY OUT! In the end, they treat an incoming WS check as an INCOME CREDIT and your outgoing WS check as an EXPENSE DEBIT.
Throws everything out of kilter, especially your COGS.
By the way, the WSs depend upon IGNORANCE from both the FLORISTS and their accountants. They also depend upon keeping FLORIST really busy so that, they don't have any time left to crunch the numbers.
KUDOS and ACCOLADES to you for finally figuring it all out for yourself by uncovering their PONZI SCHEME!
If any of us wanted to WORK FOR FREE, then we would call ourselves VOLUNTEERS, and not PROFESSIONAL INDEPENDENT REAL FLORISTS!
Here, Here!!! I couldn't have said it any better! It took me long enough to figure it all out because unfortunately I have had different accountants every year & they couldn't understand the WS fees. They kept telling me I was making money except it wasn't in my pocket. Finally, I learned enough questions to ask so I could get the answers to determine why I have no money making over $400K is annual sales. Too much wire business, their high priced products, costs of POS, fees for everything under the sun. You are so right when you say the real breakdown to the florist is about 61% for the filling florist when you factor in all the fees. Thats why we can't do $29 or $39 total orders & pay our designers $12 hr, drivers $9 hr, etc.I finally got smart & realized if I was going to survive in this business I needed to get rid of all WS. I got rid of 1-800, 3 yrs ago & within 1 month I got 100% business replacement because gee, I had time to do some marketing. I just ended FTD & now because I have Eagle POS it has taken me some time to figure out how to get away from them. Soon they will be gone too. I like being automated so I am use to that scenario so I have been trying to figure out how to make it all work. I am going to get my own website using John Henry images because they are very nice & generic everyday containers. When that is done, I'll be richer in every way!!! Sometimes, it just takes us a while to figure things out since the WS keeps us so busy making money for them. Who has time to think!! Apparently, that is why so many shops across the US fail in business because they really believe the hype that the WS is there to help you. Its always been done this way. I learned this in my trade school so I never thought about being wrong. I just assumed I didn't know what I was doing. Yet, in every other company I managed I was excellent at managing my resources. Wow! what an eye-opener! I can guarantee you one thing they all had in common & that is probably they were in a WS & being fed a line....
I was once BLIND, but now can SEE!
Good FORE YOU on having finally figured it all out!
Sadly, the majority of accountants don't have a clue as to the proper reconciliation of a WS statement. Facts be known, they're just TOO LAZY or TOO BUSY to spend the time it would take to FIGURE IT ALL OUT.
Which is why, they all take the EASY WAY OUT! In the end, they treat an incoming WS check as an INCOME CREDIT and your outgoing WS check as an EXPENSE DEBIT.
Throws everything out of kilter, especially your COGS.
By the way, the WSs depend upon IGNORANCE from both the FLORISTS and their accountants. They also depend upon keeping FLORIST really busy so that, they don't have any time left to crunch the numbers.
KUDOS and ACCOLADES to you for finally figuring it all out for yourself by uncovering their PONZI SCHEME!
If any of us wanted to WORK FOR FREE, then we would call ourselves VOLUNTEERS, and not PROFESSIONAL INDEPENDENT REAL FLORISTS!
