Possible Promise Financial

Are You In Control of Your Business’s Cash Flow?

Published 8 months ago • 1 min read

Cash flow is a part of business that is often ignored. As long as you have profits on paper, and as long as there's cash in the bank, it's easy to think that everything's OK.

And yet it's only by being intimately aware of your business's cash flow that you can answer certain questions, such as whether you can afford an additional expense, or to bring on another employee — or even if you can just pay yourself more.

A couple weeks ago I did a Facebook Live discussing the importance of knowing your business's cash flow, and a method that allows you to know exactly what you can afford.

I posted that video on the blog, and also summarized its main points in writing as well in case you prefer to read. OK, I say “summarize”, but it's a full-length blog post, so you won't miss anything at all if you choose to read instead of watch.

Either way, it's an in-depth discussion, but this topic is a bit complex so it's definitely necessary.

Check it out by clicking below:

Click Here to Read the Blog Post

In support of your vision,

Possible Promise Financial

Read more from Possible Promise Financial

Well, it's been a while since my last blog post. I've been busy with end-of-year preparation for clients, not to mention going back to school to pursue a degree in accounting. I recently wrote a research paper for one of my classes that I thought would be perfect for this blog. The paper examines whether the four-day work week has as many advantages as commonly reported. My research surprised me, to say the least, so I hope you find this post informative. Click Here to Read the Post In...

about 1 month ago • 1 min read

Many business owners get burned out, putting endless time, energy, and resources into their business, but barely drawing a profit for themselves. That’s not to say the business doesn’t make a profit, but it’s common to simply want to reinvest that profit back into the business, believing that such is necessary to sustain steady growth. In this blog post, I discuss why it’s actually just as important that you withdraw a healthy profit from your business. Your business should serve you just as...

5 months ago • 1 min read

There’s more to bookkeeping than tracking income and expenses. Things can get a bit complex, especially when dealing with accrual-based methods, which involve recognizing expenses and revenues after, or even before, cash actually changes hands. Sometimes you want to prepay for an expense up to 12 months in advance, maybe to lock in a discount, or simply because that’s what the vendor requires. In accounting this is called, appropriately, a prepaid expense, and it requires special handling. So...

6 months ago • 1 min read
Share this post