Benefits of Cash Flow Management Services

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Money Mastery LLC is proud to offer a variety of accounting services for our clients. In addition to educating the public with our many blogs, we have services in forensic accounting, assist our clients with financial fraud and theft, offer virtual controllers to aid small businesses, and of course offer professional tax planning services. But have you thought about who oversees the cash flow for your business? Let us explain how we can benefit your business and help you maintain a positive cash flow. 

Cash flow is not the same as profit. Cash flow management is the monitoring of the cash moving in and out of a company for a predetermined period of time. Over 60% of small businesses or self-employed individuals will struggle with cash flow management. The consequences of poor cash flow can be severe, such as employee layoffs or shutting down your business for good. Business owners may become overwhelmed with the demands of running a business and many do not know how to maintain a positive cash flow, especially during times of difficulty.

What is involved in our Cash Flow Management services?

First, we analyze the state of your business to predict your revenue and expenses. This will allow us to help you create a budget for your business. We perform regular cash flow forecasts to see how your business performs month to month or quarter to quarter. We help you determine what you need so you can avoid spending cash unnecessarily (such as legal tax breaks or setting your product price so you don’t lose money). We can help you predict when it is a good time for your business to refinance. Our budgets include a cash reserve for your business, a necessity when unexpected bills come. We monitor your invoices and make sure they are paid on time, so your cash flow forecast remains accurate and up to date. 

What are other benefits of using our Cash Flow Management service?

In addition to keeping your cash flow green and lowering your stress, there are other benefits to using our service that you may not think about. These include:

  • Paying your staff on time, including unexpected overtime or incremental raises. Paid employees are happy employees. Happy employees will stay with your company longer, which means you spend less on hiring and training new hires. We can help you restructure how your employees are paid, even small details can mean a huge difference in your cash flow.

  • Purchasing raw materials when you need them. You don’t have to worry about running out of supplies or overspending on supplies because you will always have more cash on hand than you’re spending.

  • Helping your business maintain good credit. This is very important when your business has to apply for a new loan or you are looking to attract new investors to help your business thrive.

  • Expanding your product line. Great cash flow management will allow you to broaden your business and increase your clientele. This means more profit for you!

As you can see, your business will benefit from hiring a good cash flow management team. It’s important to have an accurate picture of your cash flow in order for your business to succeed. Contact Money Mastery to get started on your personalized cash flow analysis and plan! For more information about cash flow and other accounting terms look no further than Money Mastery LLC! Contact us here to learn more today.

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