Bob Gauvreau says your cash flow problem might be a bookkeeping problem. Three things matter: keep books current, make sure they're accurate with proper checks, and learn to read them. Wrong numbers lead to wrong decisions.
So I get asked all the time, how does accurate bookkeeping really support cash flow management and understanding the profitability of your business? The first is that it has to be up to date. The second is, now that it's up to date, we need to ensure that it's accurate. It means that somebody who's qualified is making sure that all the checks and balances are being completed on our information and that we can rely upon that information to make informed decisions. And lastly, is that we understand how to interpret it. The changes in our bank accounts, the changes in our accounts receivable, inventory, capital assets. If it's not reported accurate, then we're making decisions based on false information. If you want to be a true CEO and a true leader in building a very financially successful business, you need accurate, up-to-date financial information and bookkeeping so that you can make informed decisions and take your business to the next level.
What Is Proactive Issue Flagging, And Why It Catches Cash Problems Before They Become Crises?
