As a business grows, it get harder to follow what is coming out of your business bank account. It only takes a few years of rapid expansion to suddenly find that your insurance premium has tripled and needs paying when cash is tight.
Most businesses need a cash flow, and very prepare or update one. A cash flow forecast can help you understand when cash might be tight, or how much available cash can be put aside for quieter periods.
If you find that you’re busy, but there never seems to be enough cash in the bank account, its time to start interrogating your cash flow. At OS Accounting we can help by preparing a cash flow to help you understand your operating cash requirements, as well as where your cash is going. It’s an eye opener, and will help you change your financial mindset.
For help with your cash flow, or to better understand how your business cash and bank accounts operate, please contact us.