{"id":103,"date":"2021-11-30T18:04:54","date_gmt":"2021-11-30T12:34:54","guid":{"rendered":"https:\/\/www.zikzuk.com\/blog\/?p=103"},"modified":"2021-11-30T18:04:54","modified_gmt":"2021-11-30T12:34:54","slug":"top-5-cash-flow-tips-every-business-owner-needs","status":"publish","type":"post","link":"https:\/\/www.zikzuk.com\/blog\/top-5-cash-flow-tips-every-business-owner-needs\/","title":{"rendered":"Top 5 Cash Flow Tips Every Business Owner Needs"},"content":{"rendered":"\n

Every organization believes cash is king, but only 33% use a business intelligence tool to manage their cash flows<\/a>. For those who use accounting software, creating entries, sending invoices, and following up for payments is most often a manual process, which requires time to monitor cash flow and make a report. Additionally, according to a recent survey, 74 per cent of organizations consider cash flow activities challenging<\/a>.  <\/p>\n\n\n\n

To simplify the process, Zikzuk’s Business Finance Manager (BFM) connects with your accounting software, offers you a complete view of your business finances, and helps you make better business decisions. While cash flow management is made easy with BFM<\/a>, every SME owner needs the extra nudge to improve their business’s cash flow position. If you’re in search of some cash flow management tips, here are 5 of them to make your task easy.   <\/p>\n\n\n\n

Ensure to have the right cash on hand\u00a0<\/strong>\u00a0<\/p>\n\n\n\n

Most business owners quickly assess whether they can afford something based on their current cash balance (cash on hand) in their accounting books. The fact is that there are some expenses that may lead to a reduction in the cash balance in the future. So, you must be aware of the actual day’s cash on hand. With Zikzuk BFM, get daily business reports and overview your receipts, payments, sales, purchase, receivables and payables for the day.   <\/p>\n\n\n\n

Look at your expenses. <\/strong> <\/p>\n\n\n\n

Expenses may rapidly add up if you are not cautious. Some additional charges, such as a license or new software, may appear as insignificant additions to your overall bill. Furthermore, costs are charged on a business credit card with an annual billing once done and forgotten until the following year. Using BFM helps you access your payables and receivables<\/a> and keep an eye on your expenses easily.  <\/p>\n\n\n\n

Determine Your Cash Flow<\/strong> <\/strong> <\/p>\n\n\n\n

Knowing your future cash flow provides your business with a financial road map. By analyzing your historical data to identify patterns, BFM makes it simple to forecast your future cash flow position. BFM\u2019s interactive charts makes it simple to assess how you’re performing each month and allows you to play around with some what-if situations.   <\/p>\n\n\n\n

Increase Sales <\/strong> <\/p>\n\n\n\n

Set goals for your team and then use a business intelligence tool like BFM with tally to see how your monthly sales are performing<\/a> and how they have trended over the last several months. You may combine the sales with the costs to get a clearer picture of your cash flow.  <\/p>\n\n\n\n

Quickly Pay Your Vendors <\/strong> <\/p>\n\n\n\n

Your vendors want their money as soon as possible, just as you want your consumers to pay you. You may be paying your vendors too late, which can negatively impact your cash flow. You can delay payment as long as you follow the conditions of your vendor contract. Check if your vendors are offering discounts on early payments. While a 1% or 2% discount may seem small, but it will significantly add up to your savings in the future.  <\/p>\n\n\n\n

It is essential to analyze your cash flow regularly to gain the insights you require to manage your business. Implement the above tips to understand which factors affect your cash flow and use BFM<\/a> with tally to manage business finances anytime, and anywhere. <\/p>\n","protected":false},"excerpt":{"rendered":"

Every organization believes cash is king, but only 33% use a business intelligence tool to manage their cash flows. For those who use accounting software, creating entries, sending invoices, and following up for payments is most often a manual process, which requires time to monitor cash flow and make a report. Additionally, according to a recent survey, 74 per cent…<\/p>\n","protected":false},"author":2,"featured_media":104,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[2,5,7,21,3],"class_list":["post-103","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-business-finance-management","tag-business-finances","tag-business-financial-management","tag-business-intelligence-platform","tag-cashflow-management"],"yoast_head":"\nTop 5 Cash Flow Tips Every Business Owner Needs - Zikzuk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zikzuk.com\/blog\/top-5-cash-flow-tips-every-business-owner-needs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Top 5 Cash Flow Tips Every Business Owner Needs - Zikzuk\" \/>\n<meta property=\"og:description\" content=\"Every organization believes cash is king, but only 33% use a business intelligence tool to manage their cash flows. 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