You have been doing the reconciliations in your accounting software but do not know if they are accurate. You do them because you have always heard that doing the bank reconciliations for your business accounts is important. What is the purpose of reconciling your accounts? What should you look at when you are reconciling? How […]
Category Archives: cash
10
Oct
Oct
Business is going well, and you have some substantial cash in your bank account. How do you keep it safe? In this article, we discuss some practical steps business owners can take to keep their money protected. Open a savings account This first step seems almost too simple, but it is important. You may be […]
19
Jul
Jul
Your team can be spread out over multiple job sites when working in construction and trades. It’s common practice to give employees access to business credit cards for purchasing materials or paying one-off expenses. It may seem convenient – until it’s time to process those expenses in your accounting. Capturing receipts and managing multiple cardholders […]
08
Sep
Sep
Many business owners are anxious about the future. In previous articles, we discussed how cash flow management can help you take control of the cash during a crisis. However, how do you take control of your revenue? In this article, we discuss four steps you can take right now to increase your revenue. 1. Know […]
29
Jul
Jul
You worry sometimes about whether you have enough cash in the bank to cover an upcoming expense. You know you can cover this week or this month, but you want to know if your cash balance in the future will become an issue. At what point will you run out of cash? These concerns are […]
17
Mar
Mar
On your list of priorities in your business, I’m sure getting paid is high on the list. Keeping cash flowing in is the life blood of any business. Not getting paid is a huge problem, but so is having to wait and wait for customers to pay you. If you don’t know when you can […]
12
Feb
Feb
Oftentimes this is the time of year that businesses are working on their budget and planning and forecasting for the year. We work with many small businesses that use budgets and would like to share with you three tips that can help you with your budget. These are: Pay attention to your sales cycle Leave […]
Cash flow improvement is a hot issue for small businesses; in many businesses, it seems like there is never enough cash when you need it. The last thing a business owner wants is to reduce their cash balance unnecessarily. To help you preserve or increase your cash, here are five cash management leaks to avoid. […]