Six steps to manage your money wisely (e-book)
Posted: Sun Dec 22, 2024 4:19 am
It is not enough to have courage, a great idea and a lot of ambition. One of the essential requirements for the success of a business is the correct management of money , which does not only involve keeping good accounts, but also making certain decisions regarding finances (cash flow, reserves, etc.).
If you want to learn how to manage your money wisely, download the free guide at the following link.
If we want to take the first step towards knowing how to manage money in our business, we need to know how money flows within the company, and then plan the route it has to take to make the most of every euro. We should think of cash as the fuel that makes the company run. If we run out of this fuel, we will be left stranded in the middle of the road watching the competition overtake us. Exactly, a business, like a car, doesn't go anywhere without fuel.
How to manage money in your business
Let's start with cash flow control . For those who don't know, cash flow is the set of cash inflows and outflows over a period of time. It is, therefore, a financial analysis indicator that allows us to assess a company's ability to generate liquidity and meet its payments.
Start of marked textDownload the free eBook “6 steps to manage your money wisely”End of marked text
Knowing exactly the state of the company's cash flow, we can quantify the economic benefits, solve liquidity problems, analyze the viability of investing or not in a project, control russian phone number whatsapp stocks and much more. For example, if we know in advance that we will have a cash deficit within a month, we can try to increase or request a loan if necessary. Have you not yet worried about this important item?
On the other hand, are you sure you are making the most of the time you spend on your finances? There is no point in having complicated spreadsheets or tedious financial reports from which you cannot extract useful financial information. Therefore, when it comes to big problems, big solutions are necessary.
It's a good idea to keep track of how much time you spend on payroll, accounting, etc. This way, you can decide what to outsource, delegate, or spend more time on. You can also see if you're wasting time by not using the right technology. You can start with an easy and affordable accounting solution that lets you see what's happening in your business in real time.
Go to Sage and discover the accounting solution that best suits your business . If for work reasons you or your team travel frequently within your country or abroad, or you are not usually in the office, using a cloud or mobile solution will help you manage your business wherever you are. As you can see, small problems require simple solutions.
Do you know who needs to be paid, how much and when? Just as we like to receive payments on time, so do your suppliers, subcontractors or employees. Don't waste time with a solution or Excel where you record all the payments and then receive calls from your suppliers complaining that they haven't received the payment. Something is wrong. Therefore, it is essential to put in order who needs to be paid, in order of priority. This way, you will know if you can meet those obligations or not so you can respond on time.
If you want to learn how to manage your money wisely, download the free guide at the following link.
If we want to take the first step towards knowing how to manage money in our business, we need to know how money flows within the company, and then plan the route it has to take to make the most of every euro. We should think of cash as the fuel that makes the company run. If we run out of this fuel, we will be left stranded in the middle of the road watching the competition overtake us. Exactly, a business, like a car, doesn't go anywhere without fuel.
How to manage money in your business
Let's start with cash flow control . For those who don't know, cash flow is the set of cash inflows and outflows over a period of time. It is, therefore, a financial analysis indicator that allows us to assess a company's ability to generate liquidity and meet its payments.
Start of marked textDownload the free eBook “6 steps to manage your money wisely”End of marked text
Knowing exactly the state of the company's cash flow, we can quantify the economic benefits, solve liquidity problems, analyze the viability of investing or not in a project, control russian phone number whatsapp stocks and much more. For example, if we know in advance that we will have a cash deficit within a month, we can try to increase or request a loan if necessary. Have you not yet worried about this important item?
On the other hand, are you sure you are making the most of the time you spend on your finances? There is no point in having complicated spreadsheets or tedious financial reports from which you cannot extract useful financial information. Therefore, when it comes to big problems, big solutions are necessary.
It's a good idea to keep track of how much time you spend on payroll, accounting, etc. This way, you can decide what to outsource, delegate, or spend more time on. You can also see if you're wasting time by not using the right technology. You can start with an easy and affordable accounting solution that lets you see what's happening in your business in real time.
Go to Sage and discover the accounting solution that best suits your business . If for work reasons you or your team travel frequently within your country or abroad, or you are not usually in the office, using a cloud or mobile solution will help you manage your business wherever you are. As you can see, small problems require simple solutions.
Do you know who needs to be paid, how much and when? Just as we like to receive payments on time, so do your suppliers, subcontractors or employees. Don't waste time with a solution or Excel where you record all the payments and then receive calls from your suppliers complaining that they haven't received the payment. Something is wrong. Therefore, it is essential to put in order who needs to be paid, in order of priority. This way, you will know if you can meet those obligations or not so you can respond on time.