Plan - Manage Cash

Managing your Cash is a Must
Small business owners often fail to keep track of their cash flow because they don’t fully understand the need for managing cash. Others do not enjoy the prospect of having to maintain more paperwork than necessary.

" Tracking your cash gives you early warning of potential liquidity problems ..."

You need to put in a system that will track your cash coming in as well as the cash being paid out. This is not difficult because it is possible to buy simple software that provides a system to be put in place to control this area.

Cash needs to be tracked on a daily basis. This is because your cash situation may change daily, depending on costs that may arise unexpectedly. Maybe an unexpected opportunity presents itself and requires immediate cash.

Tracking your cash will give the business an early warning system of potential liquidity problems. Th...

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