Let’s be frank here, it doesn’t matter how profitable your business is or how amazing your business model/plan may be, if you don’t know what’s going on with your business’ cash flow you won’t survive.
Of course you can use Xero to generate a cash flow forecast of sorts – after all, Xero’s core functions are a solid option for many accountants. Where there is room for improvement is the cash flow generation process. It’s complex, and dicey results pulled from historical data that may not reflect an accurate future.
The definition of a cash flow forecast often focuses on an older, more reactive model of financial forecasting. The traditional view of a cash flow forecast describes it as an “…estimate of the timing and amounts of cash inflows and outflows over a specific period (usually one year). A cash flow forecast shows if a […]
Now is the perfect time to reflect on the past year and explore ways to start off the next with a game plan that leads to success and growth. We’ve created a set of key benchmarks that are sometimes overlooked, but will have a big impact on your strategy and growth in 2017.
Just like other areas of your life, many of us spend the last months of the year reviewing the past 12 months and brainstorming ways to improve in the next.
Accountants can easily call to mind some of the fear that their business clients face when it comes to exposing their personal assets to debt in order to fuel professional expansion.