Get Control of your cash
• Prepare a weekly cash forecast and include everything!
• List all the payments you are going to make over the next week, month and year. Don’t leave any out, even if they are small. Your list should include the following main areas: equipment; stock; payroll and staff expenses; rent; fuel; taxes; marketing; and professional fees.
• Do the same for what you have coming in. If you sell to other businesses, use your invoices to calculate how much you are already definitely owed and how much you can expect to be paid if future contracts come your way. Be realistic about when money will actually get to your bank account. Look back to see how promptly you were paid by your customers the last time.
• Don’t lie to yourself – the purpose here is to get control of your cash.
Seems too difficult? Call us today at 551-777-4422 and we will help you get started.