Knowing how much money your company actually has goes beyond checking your bank account balances: it is important to manage your cash flow . Above all, this is an essential management tool for you to monitor the company’s financial health and be able to plan the future. Opening a business, in most cases, means the realization of a dream… But it is also the opportunity to earn money with your work — after all, n, right? Still, many establishments make losses and end up closing their doors. Sometimes, this happens even with a lot of clients — usually, due to a lack of financial management. One of the biggest mistakes an entrepreneur can make, in this sense, is not managing their cash flow correctly. This is a term that most people know, even if they don’t undertake it… But, not everyone knows how to manage cash flow the right way, or how to use the valuable information it offers for managing the company.
Record all information correctly
That’s what we’re going to talk about in this article. Check out more management and technology tips for bars, restaurants and stores After all, what is cash flow? In short, cash flow is the report of how much money is coming in and how much Philippines Phone Number Data is going out of your company’s cash flow. However, more than that, it is important to separate entries and exits by categories , as well as recording the correct dates on which they occur. In the past, it was simpler to have control over cash flow , after all, all the money (on paper) passed through the cash register — and you just had to open it to find out how much money was there. Now, there are several means of payment, which enter the cash register with different deadlines and rates : credit cards from different brands , debit cards, PIX, bills, digital wallets… Credit sales , for example, can take up to 30 days to clear — not to mention installment sales, which take months.
Analyze this data periodically
Having a complete idea of how much. You have to receive (and when) can be especially difficult for bar, restaurant and store owners: these up the sales of the day or week is not the correct way to know how much money your company has — after all, there are payments that fell immediately, others that will fall the next day and those that will only Russia Phone Number List fall within one month… As the saying goes: “you can’t count on the eggs before the hen lays”. Next, we will explain some practical examples of this. But, at this point, it is important to understand that. A well-executed cash flow allows you to have a. Complete report of. The company’s. Inflows and outflows.With deadlines and categories — which makes it possible to make better decisions to guarantee the company’s financial health.
