Posts Tagged "cash flow"

Is your cash flowing IN more than it flows OUT?

Posted by on Jan 12, 2015 in Accounting, Bookkeeping, Financial Freedom | 0 comments

Is your cash flowing IN more than it flows OUT?

The cash within your business is often referred to as the lifeblood – that which enables your business to not only survive, but also prosper. Just as your body will survive for a time without food or water, but without blood it will die, the same applies to your business. It can survive for a short time without sales or profits, but if it doesn’t have cash it will die. As a business owner you have a rough idea in your head at all times about how much cash you have. You can check your bank balance – even on your phone – and either breathe a sigh of relief or groan internally at the numbers reflected there. Cash is your indicator that the business is healthy. Or is...

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Bookkeeping Mistake 10: Confusing Profits with Cash Flow

Posted by on Mar 27, 2014 in Accounting, Bookkeeping | 0 comments

This is part of a series of the Top 10 Bookkeeping Mistakes Small Businesses make.  To read the others, click here. Confusing profits with cash flow has been left to the last, the tenth of the top ten bookkeeping mistakes – but it’s a really important one.  You tend to remember the first and the last things you hear, so if you can remember that you don’t have to do your bookkeeping yourself (Bookkeeping Mistake 1) and that there’s a big difference between profits and cash flow, you’ll be doing a lot for your small business. Profits have to do more with the long-term view of your business.  Over time, are you making money (profit) or spending money...

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Bookkeeping Mistake #2: Leaving Bookkeeping to the Last Minute

Posted by on Jun 21, 2013 in Accounting, Bookkeeping, Financial Freedom | 0 comments

This is part of a series of the Top 10 Bookkeeping Mistakes Small Businesses make.  To read the others, click here.   Leaving bookkeeping to the last minute Everyone suffers from procrastination from time to time. Actually, to tell the truth, we only suffer when we finally tackle whatever we’ve been avoiding: it’s easy and natural to do the avoiding! Sometimes procrastination can be good.  When we finally get to deadline time and discover that avoidance is no longer an option, it pushes us to excel, to fight off further distractions, and to achieve more than we realized we could. When it comes to bookkeeping, though, leaving things to the last minute is...

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Bookkeeping Mistake #1: Believing You Have to Do Your Bookkeeping Yourself

Posted by on Jun 14, 2013 in Accounting, Bookkeeping, Financial Freedom | Comments Off on Bookkeeping Mistake #1: Believing You Have to Do Your Bookkeeping Yourself

This is part of a series of the Top 10 Bookkeeping Mistakes Small Businesses make.  To read the others, click here. There are a number of reasons you might decide to do your own bookkeeping.  Based on our experience, and the problems many business owners face, we encourage you to at least consider outsourcing your bookkeeping, rather than simply doing it yourself. If you’re just starting out in business, this is a good time to make the correct decision right from the beginning; if you’ve been going for some time, you’re probably aware of how much time and effort this is taking, and may be a little frustrated! So now’s the time to make a few slight changes that...

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