Gambit Financial

A business cash flow forecast will give you vital business intelligence to help you scenario-plan, search for cost-savings and look for strategies that will preserve your cashflow position.
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Azard Marzook on LinkedIn: The value of cashflow forecasting for your business A business cash flow forecast will give you vital business intelligence to help you scenario-plan, search for cost-savings and look for strategies that...

4. What should your bookkeeper be tracking?

Think of your business as a trek up an unfamiliar mountain path. You’ve got your provisions and your equipment, but that won’t matter at all if you don’t know where you’re going.

Enter your bookkeeper. They should act as your Sherpa, guiding you along the way, and making you aware of the obstacles and challenges yet to come.

You shouldn’t be caught by surprise with a bookkeeper by your side. They should track and communicate and keep you up to date:

◊ Where your business is spending money
◊ Where your money is coming from
◊ GST, taxes and bills to be paid, giving you plenty of lead time to make arrangements

3. Why is cloud accounting the OG in todays business?

Your ability to access important financial data could be the difference between success and failure. In fact, we believe using cloud accounting software should be a prerequisite for owning a business nowadays.

If your accountant isn’t in your ear, buzzing about the cloud and telling you it’s the OG, it might be time to look elsewhere. Particularly if they’re happy letting you continue to use outdated desktop software, or an error-strewn spreadsheet to run your numbers.

Why is the cloud so great? Let us count the ways…

# Real-time Data
You’re not waiting weeks or months to understand how your business has performed. You can see straight away, with a few taps or clicks. Better yet, you can sit with your accountant and discuss this information together, without first being tasked with mind-numbing manual data entry.

# In-depth Reporting
It’s not just the fact that cloud accounting platforms can give you access to reports, it’s the amount of detail they can provide. Want to know just how much you spent on office supplies this time last year? It’s only ever a few seconds away.

# Third-party Integrations
As your business grows and evolves, you can start taking advantage of time and money-saving apps, all of which interface with your accounting software. CRM and POS systems, payroll, inventory management, debt tracking, and so much more - building a streamlined, savvy, and efficient business is more affordable and achievable than ever.

# Instant Access, Anywhere, Any Time
Unlike traditional accounting software, the cloud-based version lets you login from anywhere. Open an app on your smartphone as you’re sipping Mai Tais on the beach to make sure an important invoice was sent. Using the cloud keeps you connected and in-tune with your business, no matter where you are in the world.