The old saying still rings true; cash is king. However, many small businesses struggle with their cash flow and end up in bad situations because of it.
Luckily, cash flow management solutions can help! Do you know all of the ways they can improve your business’s operations?
At CSI Accounting & Payroll, we’ve improved small business cash flow for over 50 years. Lots of prospective clients ask us:
Cash allows your business to handle its operations and strategic growth.
Payroll is the largest expense for most small businesses. If you can’t afford it every pay period, then you won’t have any employees and you can’t operate. Don’t fall for the daily loans trap if your cash is short! You should never use debt to operate your business.
While you want positive cash flow, if it’s too positive, you’re wasting opportunities to invest in your own business or outside stocks, bonds, and securities. Don’t just let your money sit and depreciate.
There are lots of ways that a monthly accounting service like CSI can help with cash flow management. Let’s start with the obvious first, then move to aspects that many business owners wouldn’t immediately consider to be part of cash flow.
Cash flow management means you need insight, and expenses are a big part of what you need to keep an eye on. After all, cutting unnecessary costs improves cash flow!
CSI Accounting & Payroll makes you monthly Profit & Loss Statements so you can see exactly where your money is going. This helps you spend it wisely with informed decision-making all year long.
Since CSI works with you year-round, we can assist with the most important aspect of cash flow: anticipating future revenue and expenses.
We help you watch where you are today and predict where you’ll be in six months or a year. We also examine how it might change under different circumstances, such as a large marketing investment.
Another thing we can look at is how you could react to an expected cash flow increase or decrease. Ultimately, you can formulate a plan to maintain a positive cash flow.
Did you know that CSI also offers payroll services, and they include much better customer service than the big guys? It’s true!
With accurate, timely payroll for your employees, you have a more stable cash flow. CSI also offers many different options for pay schedules, and higher pay frequencies like weekly or biweekly are best for cash flow management.
When you file your taxes accurately and on time, you avoid penalties and interest. This alone saves your cash flow.
There’s also tax planning, which is a form of forecasting. An example of using tax planning to find tax strategies is if you’re predicting a large profit at the end of the year, you may want to utilize certain tax strategies to lower your tax liability.
Now that you know about why cash flow matters and the aspects of it that CSI Accounting & Payroll can help you with, are you ready to check out monthly accounting services?
If so, please consider CSI Accounting & Payroll! To see if we can be a good fit for your business, click the button below for a free consultation:
Not ready to talk? That’s okay! First, learn more about what it’s like to work with CSI by clicking the image below: