Careful business management is incredibly important for businesses in New York, NY and beyond. One crucial component of small business management is cash flow analysis, which is separate from profit tracking. Revenues and expenses are tracked based on when they are earned or spent. However, cash flow analysis is based on when these transactions actually occur. In other words, your wealth management review could reflect one million dollars in profits for the year, but your business could still have problems paying the bills if your customers or clients haven’t paid you.
Watch this quick introductory video for more information on business management through proper cash flow analysis. You’ll learn about analyzing your company’s cash flow from your operating activities, financing activities, and investing activities.