Financial accountability is about much more than keeping records or knowing what is sitting in the bank. It means taking responsibility for where your business is going, checking whether you are still on course and making changes when reality turns out differently...
Cash flow forecasting helps us look forward instead of running a business entirely through the rear-view mirror. Knowing what happened last month is useful. Knowing what is in the bank today matters too. But neither tells us whether we will have enough cash to pay...
If you want to make a cash flow forecast, do not begin by staring at an empty spreadsheet. Instead, start with your business story. Where are you trying to go? What do you expect to sell? What activity needs to happen? What will that activity cost? And, crucially,...
Knowing how to manage cash flow in business is one of the most important financial disciplines you can develop. A business does not necessarily have to make a profit every single month to survive. However, if it runs out of cash and has no access to additional cash...
Why cash flow matters comes down to something very simple. Your business has bills to pay. Staff need their wages. Suppliers need paying. Loans need servicing. Overheads keep arriving. And somewhere in all of that, you need to pay yourself too. Those commitments are...
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