Cash flow is the life support system of your small business because every purchase your business has to make depends on it. How effective is your small business cash flow management?
Here are 8 keys for managing your cash flow.
Have Good Financial Systems
You need to know how much cash you have, where it has come from and where it has been going.
- Reconcile your bank accounts regularly.
- Have a disciplined approach to recording all expenditure.
- Find out how to get useful reports out of your accounting software.
Have a Realistic Cash Flow Forecast
Develop a cash flow forecast based on historic payments and receipts that […]