Anyone Know Of A Good Resource On Managing Cashflow?

by SeanyG
5 replies
Hey guys,

My business is growing quickly and it has become apparent that I need to learn how to manage cash flow in order to continue to grow.

I would love to know of any books, articles or sites you can recommend that would help me and other learn how to manage cashflow to help our businesses grow.

Any recommendations?

Thanks in advance,

#cashflow #good #managing #resource
  • Profile picture of the author SeanyG

    There are 100 threads per day on article marketing and not one on managing cashflow?
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  • Profile picture of the author Istvan Horvath
    A while ago, when I was still very "fresh" at this forum, a similar thread came up... and I happened to mention my past experience in financial services: I used to advise people about managing money.

    Then somebody jokingly told me to write a report/ebook about it. So, we continued to have fun around the idea - and the thread suddenly got deleted. Maybe somebody perceived it as a "pre-launch" thread for a WSO or something. I have no idea. Never asked, never complained about it. I completely forgot the whole story until your post reminded me...

    P.S. No, I didn't write any report about it

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  • Profile picture of the author Fox30
    I would seriously consider talking to an accountant in your area. Also, use financial accounting software like quicken or quickbooks.

    Bad money management is the #1 reason why most businesses fail.
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    • Profile picture of the author tomcam
      SeanyG, I take home 5 figures a month and my business has healthy cash flow. Fox30 has it right. I'll give you just a few added specifics.
      • Use separate credit cards and PayPal accounts for business vs. personal purchases. If you do nothing else I recommend this will make a lot of things easier at tax time.
      • Have a bookkeeper at my office 4 hours a week to sort through the week's bills and receipts, enter data, and most important handle all the ridiculous little pieces of paper generated by government offices
      • Use QuickBooks Online so that my accountant and bookkeeper can interact with the data remotely. QuickBooks is like capitalism. It sucks but the alternatives are much worse. I especially hate printing checks. I now have a single printer dedicated to printing checks.
      • Pay estimated taxes every quarter, and even throw some extra in at the end of the year (this will horrify some people; they have too much time to worry about trivia, because I'd rather have them mad at me than the IRS)
      • Save 30%-50% of what I make
      • Run P&Ls at least every week
      • Write off everything legit and nothing else. I pay a lot in taxes, but I also sleep at night and have never been audited. I don't know within $10,000 what my personal checking account holds, but I know within a few dollars what's in the business checking.
      I would rather create products and generate money than balance a checkbook.

      PM me if you need any tips. Ask any former pro athlete. Habits can get out of hand very, very fast.
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  • Profile picture of the author danto2
    I use quickbooks online. It'a great system. Although I
    am an accountant, THE QB system is very user friendly.

    I will be happy to explain to you how it works.
    Respond to my account directly.

    Please do not use affiliate links in signatures

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