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Thought Leadership from the Leaders in Virtual Accounting and Bookkeeping Services
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31, July
2017

How to Account for Slow Seasons in Cash Flow Forecasting

Cash flow forecasting can make or break your business. Business owners need to know how much cash they have on hand for essential business expenses, whether to lean on your lines of credit, and whether they can purchase the inventory needed for the business. Slow seasons make accurate cash flow forecasting difficult, especially if the business is particularly seasonal in nature. However, whether your business sells products or provides services, there are a few best practices to lean on to help ensure accurate cash flow forecasting year round.

1. Look at historical trends within your company.

You have a plethora of data, so use it. You might not have exact numbers if you've experienced fast growth, but you can compare your historical trends to figure out approximate cash flow during slower seasons of the year. This method works best if you have an extended period of data to work with, such as the past five years or so. For startups and early stage businesses, lean on industry data to help project seasonal ups and downs. If you have an industry mentor or professional group, reach out for help finding and digesting the data. You may want to invest in market research from similar companies to get additional data points if industry data is limited or difficult to ascertain.

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3, July
2017

How Accounting Services Can Decrease Overdue Invoices

One of the most frustrating aspects of any business is waiting for the cash to flow in. While some blame can be.

9, June
2017

How to Set Up an AR Aging Report in QuickBooks

When you are running a business, keeping on top of outstanding invoices is important. Not only will this give you a.

20, March
2017

What Small Business Owners Need To Know About Balance Sheets

Many small businesses reliably produce a set of financial statements each year, listing assets and liabilities,.

15, December
2016

Accounting and Bookkeeping Software for Independent Contractors

As an independent contractor, it is important to make sure your books are in order. One of the main reasons for.

24, October
2016

How Much Should Companies Spend On Their Accounting Department?

Occasionally, we get asked to help companies understand where and why they should allocate budget to improve.

11, October
2016

How to Set Up Class Tracking in QuickBooks

Want to go beyond standard account-based tracking in QuickBooks? Expanding into class tracking provides you with a.

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