17 Jul Short guide to your cashflow
Short guide to your cashflow
Cashflow knowledge is key. It’s like a map. It tells you where you go wrong or if you are on the right road. Don’t run away from it, embrace it. It will guide you to where you want to go.
So let’s take the first steps to eating this elephant.
First steps – get your numbers together. Be as realistic as possible.
- Do you know how much you earn per month, per week, per day?
- Do you know exactly what your expenses are, per month, per week, per day?
- Do you know how many people you owe money too?
- Do you know how many people owe you money?
- Do you know if you are overspending?
- Do you know how much money you need to make to be able to pay all expenses and still make a profit?
- Are you aware of every amount that goes through your bank statement and do you reconcile your bank statement every month?
- Are you paying yourself a salary and have you included that in your cashflow?
- Are your taxes payable included in your cashflow? Are you tax compliant?
Remember to account for all cash and card transactions. If you need assistance with the spreadsheet Click here