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Understanding Your Company's Cash Flow Cycle
Most business owners understand that income has to equal or exceed expenses for their companies to succeed in the long term. Still, many businesses fail because the owners never fully grasp where the money comes from or where it goes. The first step to financial success is creating and maintaining a bookkeeping system that provides accurate feedback on past and current financial positions and allows for informed projections of future results. Anyone can look at the balance on a bank statement and see how much money the bank says is on hand. Successful business owners need to understand the cash flow cycle to continue to make well-informed decisions.
At BookKeeping Express, we'll sit down with you to:
· Analyze your cash flow cycle to find any problem areas and fix them.
· Develop a cash flow budget to predict your business's cash flow for the next month, six months, or even the next year.
· Create strategies to accelerate your cash inflows and delay your cash outflows.
· Develop management strategies to handle cash surpluses.
Cash is the life-blood of any business. Without cash, your business will not remain successful, that's why it's so important to understand the cash flow cycle. Understanding this cycle will help you anticipate upcoming expenses, plan for projects more accurately, and handle emergencies more efficiently. With a better understanding of your cash flow cycle, you'll receive a clear financial picture of your company's well-being so you can make better business decisions.
With BookKeeping Express, you'll have a strong financial team dedicated to taking care of the financial side of your business. In addition to helping you understand company's cash flow cycle, our certified team of bookkeepers can also:
· Handle monthly closeouts and bank reconciliations.
· Pay your bills.
· Set up your chart of accounts and general ledger, working with your CPA if you have one.
· Perform monthly data entry.
· Process and manage accounts payable and accounts receivable.
· Produce monthly reports and tax reporting.
· Provide additional business consultation services.
We can also scan your receipts and bills so that you'll always have them available for future reference. If you want, you can access all your documents through our secure file sharing server and you can access your bookkeeping files remotely through our safe and secure BKE Connect system.
Give us a call at 571-234-1127 to discuss how we can help you keep your company a successful venture.
Providge Consulting joins the Intelligent Office in Arlington and is Hiring!Providge Consulting, LLC, a Delaware-based professional services firm has just started operating out of the Intelligent Office in Arlington. The company provides management and information technology consulting for clients throughout the U.S. and overseas, but to maintain low overhead, does not maintain a physical location. With a recent surge in hiring in the Washington, D.C., area, the company found that it is helpful to co-locate regularly and assembles most of its Internal Operations and Leadership teams in Arlington at least once per week.
Tara Teaford, the company’s Director of Operations, explained the motivation for setting up office. “We find that certain concepts are easier to discuss and finalize when we can really sketch things out during white board sessions when we are all in the same room. We deal with a lot of complexity in our business: managing international operations and rapid growth in various sectors of the economy, so getting together regularly helps us get things done more efficiently.” Providge has identified other perks, too. “I like the free coffee!” said Zach Peirce, the consultancy’s new intern.
Providge would also like the Intelligent Office clientele to know that it is currently hiring a new recruiter and HR Manager to assist with its growth initiatives. Qualified applicants are encouraged to send resumes and cover letters to recruiter@providge.com.
“BLACKSTONE’S COMMENTARIES”
Frank Blackstone of Blackstone Counsel (www.BlackstoneCounsel.com) of the Intelligent Office in Tysons provides outside General Counsel services, primarily to small and mid-sized businesses, and routinely handles legal issues that are pertinent to such businesses. This month’s highlighted issue relates to your company’s disputes. One way to keep the disputes out of the public eye is to use a “binding arbitration” clause. This requires that the parties (it could be employees, customers, vendors, partners, contractors, etc.) agree to have any disputes arising out of the relationship/contract be resolved by binding arbitration instead of a court proceeding. This permits the dispute to be handled confidentially and oftentimes quicker and less expensively than in court. You also might consider having an early mediation session prior to an arbitration proceeding to see if you can settle the dispute before spending too much on legal fees – something most small and mid-sized business want to do!
If you would like to discuss any of your company’s disputes or your company’s legal needs in general, please contact Frank directly at Frank@BlackstoneCounsel.com or 703.226.8023. This article is not intended to serve as legal advice, and does not establish an attorney-client relationship with Blackstone Counsel.
