Jacqueline Snyder says business owners should track three numbers weekly: cash on hand, accounts receivable, and accounts payable. Five minutes a week reveals patterns like overdue invoices and trains your financial instincts, making you more confident and proactive than waiting for quarterly reviews.
There are 3 numbers that you have to start looking at every single week. Number 1, your cash on hand. What is actually in your business bank account right now, today? Not last month, not on paper, right now. And then number 2, your accounts receivable. Who owes you money? How much? And how long has it been outstanding? Anyone who owes you that has not paid. And then number 3, accounts payable. Who you owe money to, how much, and when is it due? And that's it. 3 numbers, 5 minutes a week. And when you start tracking those 3 numbers, 2 things will happen. One, you're gonna start noticing patterns. You'll see, oh, I have $40,000 in receivables outstanding for 60 days. That's $40,000 you can collect. Two, your nervous system will start to regulate around money. Once you know the number, you can do something about it. The owner who looks weekly builds a different business than the owner who looks once a quarter when she has to, or just avoids the whole thing.
