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Increase your cash flow
Neha Patel

Step Up Your Game and Increase Your Cash Flow

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Increase your cashflow

Business is all about money.  When you run your own business, you want more cash coming in than is going out.  There is a lot of cash flow involved in any company, from business expenses like rent and payroll to profits and revenue.  It is important to track all of the money going in and out.  This is where bookkeeping consulting services come in.  Having good NC bookkeeping and accounting can help your business succeed.  How can you step up your game and increase your cash flow?  Here are some ideas.

What Is Cash Flow?

Cash flow refers to the movement of your company’s money, specifically where the deposits in the bank come from and what those payments end up being spent on.  Positive cash flow is when you have more money coming in than going out.  Negative is the opposite: when you owe money but can’t pay it.  That’s what you don’t want to happen.

These are tracked and reported through a report.  This document lists the opening and closing balances of your business’s bank account at the beginning and end of each month.  It also shows where all those deposits and withdraws came from, sort of like a bank statement.  Whether you use bookkeeping consulting services or have someone in house do your accounting, you should look at these reports regularly.

Why Is It Important to Track Cash Flow?

Cash flow is obviously important for your business to continue to run.  If you don’t have money coming in, you can’t make payments.  Let that continue for long enough, and your company will grind to a standstill.  This is why NC bookkeeping is so important.  You don’t just need to know about how much money your business has made.  It’s important to know how much actual cash you have on hand at all times as well.  That way if you have to make any payments, emergency or otherwise, you know right away if you’ll be able to do so.

Ways to Increase Cash Flow with Bookkeeping

Your business can have a more positive cash flow by bringing in more money and spending less.  That is easier said than done, of course.  There are many different strategies for having better cash flow.  Here are some directly related to NC bookkeeping.

By looking at your reports, bookkeeping consulting services know what times of the month you have the least amount of money on hand.  You can easily switch this around by changing the dates for payments.  Let’s say you send out invoices on the last day of every month and have customers pay you within 30 days.  If your rent and utility payments are due on the 20th, money will be tight that last week of the month before more comes in.  This can be resolved by switching the dates of either your loan payments or your invoices so they line up.

Data like this is made clear when you have good bookkeeping.  Easy-to-read cash flow reports show you where the most money is being spent.  This helps you decide how to cut costs.  They also give you insight into areas of growth so you can capitalize on that success.

Bookkeeping Services Near Me

Need help increasing your cash flow?  Try bookkeeping consulting services from Bluefire Accounting.  Their accurate, insightful reports will help you know your business better and continue to lead it to success.  Call (704) 979-4334 or visit Bluefire Accounting online to schedule a free strategy session today. 

Man doing Bookkeeping
Neha Patel

Behind on Bookkeeping? How a Professional Can Help!

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Man doing Bookkeeping

Trust me, I know that organization can be difficult in the midst of the chaos of running a business. Even the simplest things can sometimes seem out of control. The bummer is that when things start to feel this way, duties that should be easy to fulfill can slip into the abyss of the backseat of your business. One of the first things to slip is your bookkeeping. Bookkeeping is essential, though, and negligence in this area can cause money problems, headaches, and possibly even legal trouble.

Why Hire Bookkeeping Consulting Services?

It seems easy enough. A lot of people see bookkeeping as something that they should be able to do on their own and save a few bucks by doing so. The truth is, however, that it is not as simple as it might seem. This is especially true for those who have a lot on their plate. (Anyone who runs a business surely does.) Let’s take a look at some of the reasons that you should hire a bookkeeper:

Time is Money

The first thing that you might already know about bookkeeping is that it can really devour your time. Your time often means your money. With all of the attention that your business requires, taking time out to manage your books can steal your attention from other things that need your attention. Saving that time often means saving your money. Did you know that you likely spend ten hours per week or more on your bookkeeping?

Taxes

It can be difficult to keep up with all of the new rules and regulations involving taxes. It takes constant effort to stay ahead of them. Hiring a bookkeeper can give you peace of mind when it comes to keeping your taxes in order and staying out of trouble. In addition to new rules and regulations, there are always things that are quite easy to forget.

Human Error

Let’s face it. The more you are doing, the more opportunities you will have to make mistakes. When stress is high or when you have a lot going on, it is easy to make mistakes. Hiring a bookkeeper can help to reduce the number of mistakes made on the important things. Not only are bookkeeping mistakes made when your plate is full, but you are also more prone to making mistakes regarding other decisions regarding your business.

Organization

Sometimes a new system is hard to come by on your own. You might be surprised at the ideas and organizational strategies that your new bookkeeper has. A fresh start needs fresh eyes sometimes. When you are treading water, coming up with new ways to do things might be the last of your priorities. Hiring someone to help with that aspect can be a huge blessing.

Bookkeeper Services Near Me 

If you are in search of a NC bookkeeper, BlueFire Accounting is the best choice hands-down. We are not a “year-end” service provider. This means that we do not just show up come tax time. You can expect feedback and updates all year so that you will have the confidence and awareness you need to make important business decisions as they arise.

With clear communication, you can expect accurate details in a timely fashion from BlueFire. There is no reason that you should wait for important accounting information to make decisions. There is also no reason that you should expect anything less than absolute accuracy. The only catch is that you should communicate with your bookkeeper as thoroughly as possible. Start by clicking the link above. You will not be disappointed.