It’s critical to regularly monitor your company’s cash flow and performance. Tracking your business’ performance can also benefit you by:
- Recognising when you are straying off course so you act early.
- Maintaining profitability and positive cash flow.
- Assisting timely adjustments to enhance cash flow.
- Assisting you to evaluate previous results and develop strategies to advance your business.
- Providing reliable current financial details to track your business.
By comparing your cash flow targets against your actual or real cash flow figures, you enable yourself to break items down into weekly, monthly, quarterly, or seasonal targets.
Implementing this habit is proactive management of your money which is far more effective than reactive management.
By tracking your cashflow will assist you to ensure you always have enough cash on hand to make your payments.
If you fail to plan , you are planning to fail. Benjamin Franklin.
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