Cash in the bank is comforting. You use it to pay bills, buy inventory and expand your business. Your bank account balance tells you how much cash you have at that moment. But how much will you have in a week, a month, a quarter?
That’s where cash flow comes in. Cash flow is a measurement of the money moving in and out of your bank accounts. Cash flow is the cash received minus cash paid. Being cash flow positive means that more money is coming into your business than is going out. Being cash flow negative means more money is leaving the business than coming in.
The most important thing to know about cash flow is that it isn’t the same as profits. A business may use its profits to buy inventory and have no cash left.
How do businesses track their cash flow? Use QuickBooks to automate recording your financial activity. Connect LivePlan to QB to view and project cash flow into the future. Cash flow is a key performance indicator by which you will make important business decisions.
Bill.com, a Cornerstone of Our Business We at Redmond have been using Bill.com for a decade. It is an intelligent way to create and pay bills. And it is truly a cornerstone of our business. It exemplifies the modern methods of accounting that we evangelize - from security to automation to electronic payments to online access. In December, we were…
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Approving Bills With Bill.com Approval Process Last week we spotlighted one of our favorite apps for online bill pay to vendors - Bill.com. We showed you their new interface along with this checklist with step-by-step instructions for users approving bills. Let’s take a closer look. Our experts can automate your bill pay process. Schedule a free consultation! Schedule now The…
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7 essential Chrome browser features you should be using by Kaitlyn Means Chrome is the browser of choice for most internet users. It has so many features that make my work as a cloud accountant at RAI easier. Here are my favorite Chrome tips, tricks, and hacks. Back button history Have you ever been on a website or in a…
How to Manage Cash Flow in a Small Business Cash flow can make or break a business. In fact, a U.S. Bank study found that 82% of failed businesses cited cash flow as a contributing factor to their demise. We don’t want your business to be another statistic. Learning how to manage cash flow in a small business will take…
