Keeping on Top of Business Cash Flow
Stay on top of cash flow with cloud accounting software. It’s a decision that can save you time that you can spend on other areas of your business. Money in, money out, cash flow is one of the most important measures of your businesses health, but how to you monitor it?
It sounds simple to track sales on one hand and expenses on the other – then compare the two. A massive 65% of failed businesses say they closed down due to financial mismanagement, including issues such as a lack of cash flow visibility. In other words, they didn’t know if they were making more than they were spending.
Consider accounting software. Software can automate the process for you, and if day to day software usage is not your thing, we are happy to assist. We can complete payables, receivables and reconciling to make sure your information is up to date and accurate.
Cloud accounting software is generally sold on a flat monthly subscription. You don’t need to download anything, and you can easily run it on your laptop, desktop or smartphone.
It can link to your business bank account (point of sale and other add ons) to track sales and expenses as they happen, with no additional data entry from you. Because the data comes straight from the bank, it’s accurate. Smart software will also send out your invoices and shows what you are owed. The system then pools all the data to create a dashboard and reports which show what you’re owed and what you owe.
Accounting software only needs to save you one or two hours a month to pay for itself and will save you time that you can spend on other areas of your business.
Talk to us about accounting software or the health of your business. We’re here to help.