The key to understanding and forecasting your business cash flow, and the management of it, is visibility!
To be able to predict your cash flow, you need to understand your receivables and expenses. The easiest way to visualise your cash flow is to see the numbers in front of you, and with the help of your bookkeeper, identify where improvements can take place.
Tools to help you visualise and manage your cash flow
Collate your receipts and paperwork
No more receipts, no more paperwork. Prior to consulting your accounting software, store all your receipts via apps such as ReceiptBank to ensure you don’t miss costs that easily slip through the gaps. ReceiptBank integrates seamlessly with accounting software such as Xero, QuickBooks and more to make record keeping easy.
Integrating operating systems
Integrating third-party apps and systems to your accounting software is essential to predict present and future cash flow. Point of sales systems (such as Vend for retailers and Kounta for hospitality), ordering systems and booking systems should all talk to your accounting software in real time.
Consulting your accounting software
Online accounting tools like Xero make accounting easy and fun and also integrates with third-party apps such as Receipt bank, Vend, Deputy, Kounta and many more.
Chasing up debt
Once you have a clear idea of your present and future cash flow, it’s time to chase up those debts. Tools such as Debtor Daddy or Float can help you keep on-top of unpaid invoices and get paid sooner.
At Safekeeping, we can help you visualise and control your cash flow by offering the right tools and processes specifically to your business.
Want to start visualising your cash flow?
Get in touch to start your journey today.
Renee and the team at SKA.