Sage Accounting Software can do more than just keep track of your income and expenses. Find out how it can help you accurately budget as a small or medium sized business, or as a construction contractor.
Do you go with the (cash) flow?
Are you struggling to keep your business afloat upon the river of a demanding and competitive marketplace? It may be because you’re struggling against the current instead of going with the (cash) flow.
Sink or swim
For small to medium-sized companies, how you manage your cash is especially important because your startup capital may not be enough to run the day-to-day expenses of your business, and so you would need to forecast and plan for cash coming in and going out as accurately as possible, says Deshika. She continues explaining that without doing so, you place yourself at risk of manning a sinking ship, as the decisions you make will not necessarily be based on accurate financial data. “Without accurately managing your cash flow, the ability to pay your suppliers timeously will also certainly be at risk. This could taint the relationships you have with them and damage your purchasing power going forward,” she adds.