Lendinero's blog on Growing Your Business
Business financial management is very important to every small business. Today, many small businesses cannot afford to have a comptroller on site or have their accountant manage every financial transaction of the business. Even if you have an accountant, the main responsibility of the accountant is to balance your accounts, prepare financial statements, and submit information to the Internal Revenue Service. If you want accountants to handle the business financial management of your business be prepared to pay more money per month. Managing cash flow requires detailed analysis of how you spend money, when you pay, how to hold off payments, pending revenues, projections, and other details. Many businesses are going negative every month. Negative does not mean that you close out negative at the end of the month. Most bank statements today have a “daily close out balance”. Most business owners do not pay attention to this figure. This figure is very important because it indicates to you how many days you are positive and how many days you are negative.
© 2015 Lendinero