To Improve Cash Flow Management, You Must Have This

Tax time is usually the time when most small business owners think about their bookkeeping system. All year they have been collecting receipts in a drawer and it isn't until about a month before the tax accountant calls that they think... "Uh oh, I have to get my books in order so I can get my taxes done!" This is also the time of year when I'm asked to help someone set up a system for the bookkeeping and help them organize their work because they don't want to "go through this again next year".

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Cash Flow Statement: What Is Its Purpose?

Before we discuss the purpose of a cash flow statement, let’s first discuss what it is. The three sections of the cash flow statement are operating, investing and financing. There are two methods to use when preparing your cash flow statement, the direct method and the indirect method.

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3 Major Cash Flow Activities

There are three major cash flow activities in each business. These consist of Operating, Financing and Investing. You’ve heard these terms before, but you’re not clear about how they appear in your small business. After all, you don’t have investments and you’re running your business with credit cards and a small line of credit.

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7 Cash Flow Management Mistakes To Avoid

Working with small businesses for the last 20 years has brought with it some very interesting experiences. One of the most common experiences is the cash flow management mistakes that business owners make. You might think that only the inexperienced business owner have these near death experiences with their companies, but I have worked with some very experienced, very savvy business owners who have made these very same mistakes.

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Cash Flow Management: Slow Accounts Receivables Woes?

My friend Susan Baylis at Medical Account Solutions lays out some important points of lost profits in medical office billing processes in her blog “Maximize your medical receivable with a few simple steps”. It’s important in all types businesses to have solid processes in place for billing as well as collecting. Part of cash flow management is having proper training and support in place so that the staff can be successful in protecting precious profits for your business.

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Cash Flow Management For An Entrepreneur’s New Product Line

A client called me with their ideas for a new product line along with the statement, “We are going to sell widgets to all the widget providers and we aren’t going to focus on the direct sale anymore.”

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