Everyone has a checkbook. If you think about it, your personal life operates just like your business, but it’s on a Cash not an Accrual basis. You receive money and you pay it out. You can’t pay out more than you have.
The balance in your checkbook is what you must work with. No more, no less. And, if you have a savings account that you put money into regularly for retirement, or vacation plans, you’re doing Accrual Accounting at your house.
Your business is just like that. You have money coming in and money going out. Here’s a simple, 6-step process in managing the cash of your business:
This is Cash Flow Management. Do this regularly, you won’t have any surprises. Your Part Time CFO is ready to help you put together a cash management plan to take the uncertainty off your desk.
What are the PPP Loan Forgiveness Rules You Should Know? By now you have probably heard about the Paycheck Protection
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