Cashflow Is The Heart Of Your Business
Managing your Cash flow is a critical part of running any business. When you are not making wise business decisions, under stress, and with poor business goals, you may have overlooked your cash flow position.
Cash flow is all the monitory transactions within your business. When incoming cash is greater than the outgoing cash, your business could be in an excellent financial position.
There is often confusion between a good cash flow and profit. Profit is the surplus of money left within the bank at the end of a specific period.
When businesses look at their cash flow, they generally talk about it as operating (daily business activities), investing (assets or investments activities), and financing (business loan activities).
Online accounting packages have made cash flow recording easy and accessible any time anywhere. Whether the transactions are manually or automatically entered, your business cash situation is the same. Create a cash flow statement by using the imported data within the general ledger codes.
Cash flow controls your business all the time. When money is tight, you need to look at all areas of your business to see where you are losing money.
Look at your Debtors and Creditors. You can print these reports on demand, but the information must be up to date. This way you can see the trend.
Good Record-keeping. Daily / weekly reconciliation delivers excellent and accurate reports.
Control on your Debtors and Creditors. Having clear guidelines set, so all parties are happy.
Payments paid within the arranged time frame build a good relationship for everyone. Send your invoices are out on time with the correct pricing. Supplier payments are entered correctly and paid on time, preventing Stop Credit. For all businesses, a suitable Credit Controller is a must for collecting outstanding, bad debts.
Better Bookkeepers can help you. With Better Bookkeepers’ bookkeeping skills and knowledge, you see results and receive your financial reports on time. Your numbers matter. Achieve your bookkeeping goals, have less stress and obtain peace of mind.