This is probably the second question every business owner asks in their AGM with us - second to "how much tax do I have to pay?"
And knowing where your cash has gone, makes managing your cashflow easier.
But how do you find out?
- Start with good quality data, keeping in mind the axiom of "garbage in, garbage out.
- Use a cloud-based accounting system for Bookkeeping & Data Entry.
- Keep your eye on the important metrics with Dashboard Reporting.
- Learn how to read your Profit & Loss, Balance Sheet and Cash Flow Statement.
And keep in mind these two statements,
- Cash Is King!
- Cash flow is the lifeblood of a business!
Then watch the short video below where Kurt & Brian (younger versions) talk about cash flow budgets and monitoring.
Want to improve your cash flow? Contact Us today to work out how.