The life of a business owner has ups and downs. Every decision can impact the health and success of a business. There are times when everything is working well and feeling great. Money is coming in and all bills are getting paid, with profit left over. Then, there are times when unexpected expenses occur or you lose an employee, which creates stress and uncertainty for you and your business. Not everyone is cut out for this ebb and flow, especially when along with it rolls the cash flow.
At CPA Accounting and Tax Services, we can help manage your cash flow so that things remain on an even keel. Ups and downs are only fun on a roller coaster. Most business owners who have experienced the hustle of scrambling to make payroll, will tell you that the level, consistent road is the one they’d choose. Our cash flow management services can provide this consistency.
Author and CPA Philip Campbell (Never Run Out of Cash), states that “Poor cash-flow management is causing more business failures today than ever before.” This is true, but we have strategies that can help.
The first step is understanding your business’s cash flow. Many times, our customers do not even have a handle on where their money has gone. We can help with that by creating cash flow statements. This makes it easy to know exactly how your business’s money was spent. Seeing where the money is going can help business owners make decisions about expenses they may be able to cut or reduce. The next step is to be able to predict or anticipate when unexpected cash flow needs are likely to occur. By studying your business’s history and monitoring sales, payables, receivables, debt, and inventory we can create a budget for you that will allow you to plan for future investments and also, risks.
If you get into a situation where additional funds are needed right away, we can identify sources for obtaining this additional cash flow. Sometimes, it’s as simple as collecting the money that you are already owed. We can help with that, using specialized cash collection techniques and creating reliable payment policies that are beneficial to your business. If necessary, we can help you choose the best option for obtaining a short-term loan or line of credit.
There are many ways we can help with your business’s cash flow issues.