Searched: "cash flow"
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Ask 10 different finance pros what their monthly review process looks like and you'll likely get 9-10 different responses. So what is it? Monthly Financial Review (MFR) — Checklist of financial data and review procedures conducted every month (or 30 days) after your books are closed and financi...
How to Optimize Working Capital This is part 3 in a mini-series on working capital (check out part 1 here and part 2 here). Let's recap the basics so far: What is working capital? Receivables (A/R) plus inventory minus payables (A/P). Don't forget to include credit cards. Why is it importa...
Profit vs. Cash Flow Ever feel like your business is profitable, but you're still struggling to pay bills and cover day-to-day expenses? Today we'll build on the Working Capital 101 concepts we covered last week and drill deeper into the differences between profit and cash flow. Remember: Prof...
Your Finance Team Every company has a different-looking team running their finances. Here's a quick rundown of the three most common players and what they are (usually) responsible for: Bookkeeper (Accountant): They handle the day-to-day transaction recording, invoicing, bill pay, etc. These...
Financial Frequencies - Zoom In / Zoom Out There are probably 30-40 skills required to be a finance/accounting pro, but to manage a successful business you really only need to master maybe 10 or so... today we'll cover one of those 10 skills... I call this zooming in and out on your business. I...
What makes a great business? When I worked in the investment industry studying and investing in public companies, I was often searching for "great businesses" and over my career developed a short list of characteristics that (I think) make a company great. Why should this matter to you? For ...
13-Week Cash Flow Forecast Let's take a look at one of the most useful tools in all of small business (actually, businesses of any size should be using this). Imagine a financial roadmap for the next three months. That's what a 13-week cash flow forecast is. It's a simple tool to predict your b...
Simple approach to achieving profitability... We posted this on LinkedIn not long ago and it absolutely oversimplifies things but at its core, producing good income really does happen this way: 1) Get good bookkeeping - hire help!2) Review financials regularly - and know what they're telling yo...
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