Budgeting & Forecasting Trending Articles

As an accountant, I am often asked by my clients for tips to strengthen their revenue stream. In fact, it is also a conundrum that I as small business owner, face. Revenue isNew customers This is probably the hardest and most expensive to achieve in the short term. It can generally be achieved...

For any business, survival depends on continued positive cashflow. In difficult economic times the sooner the cash is in the door the better. Here are seven (7) tips for managing cashflow: 1. Build a Cash Flow plan. By doing so, you will know when your peak demands for cash will be thereby...

Here are 5 common mistakes that are easy to make when forecasting Cash Flow for your Business. (only takes 2 minutes to read). 1.    Not looking at the complete picture.  Looking at cash flow alone is like having your eye on one important score board and not looking at other scoreboards which are...

A budget is often overlooked as part of business management yet it has a vital role in your success.  The budget provides a series of performance benchmarks that the operations of the organisation can be measured against.  As a result, key decisions can then be made with the purpose of increasing...

It is often confusing as to the difference between a budget and a cashflow forecast. They seem to both show you similar information yet are both very different and are used in different areas of your business. Both a budget and a cashflow forecast are vital for the accurate financial management of...

Daily administrative tasks like creating and sending out invoices, and chasing customers that have conveniently forgotten to pay you, can take up an enormous amount of time and resources in your business. They can also become very mundane and placed at the bottom of the to do list or too hard...

Overhead or indirect costs are part of running a business—these cannot be eliminated in the process of providing services or creating products. However, there are many ways overhead costs can be minimised, especially in the accounting or bookkeeping aspect of the business. The Internet age has...