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How can a system help ensure that I stay in the ‘black’ vs. ‘red’? | Ask An Expert | Bayzat SME Hub

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Feb 21

How can a system help ensure that I stay in the ‘black’ vs. ‘red’?

1 comment
Feb 24

Income can fluctuate dramatically – as can expenses. It’s really important to stay on top of both.

Because at times you could be paying third-party vendors on behalf of clients, bad cash flow can stall projects and cause embarrassment.

 

Try to use cash flow dashboards to track money in and money out.

  • They’ll tell you how much money you have to spend today.

  • If plugged into your invoicing and expense system, they’ll also predict cash flow for tomorrow.

When using these dashboards well, you can see if there’s a crunch coming up, and plan accordingly. They’re a lot faster and more effective than spreadsheets.