Never has a global economic situation illustrated the importance of cash flow and budgeting as the COVID-19 economy. In the initial phases of the COVID-19 economy those businesses with cash were able to ride out lock downs, supplier changes and customer disruptions. As the COVID-19 economy continues to develop, cash rich businesses are able to invest, make relevant changes to supply chains, and even purchase struggling competitors. Take a look at the Venaccurac team’s top 3 ways to improve cash flow in your business.
The first and most important step in creating better cash flow is budgeting.
Budgeting is defined by Oxford Dictionary as “the process of planning to spend an amount of money for a particular purpose” read more here
At Venaccuracc, we believe that just like every other area of your business, your accounting needs a strategic plan that starts with a strategic, growth minded budget.
Why do you need a strategic accounting plan?
Because without a plan which includes a strategic budget, your business will be unable to take advantage of opportunities or respond to threats within the COVID-19 economy.
As part of the Venaccuracc monthly retainer, we offer clients an opportunity to discuss strategic business decisions and how they can be incorporated into a strategic business budget. For more information click here.
There is nothing more frustrating than working hard every month only to have a whopping bill you weren’t expecting coming along and gobbling up all of your profit. It is for this reason that understanding cash flow is critically important to your business.
Every business has seasons of high expenditure and seasons of lower expenditure, many of which are out of your control. There are some areas in your business where you can smooth the curve into predictable expenditure. Accounting professional services are just such an area. Accounting bills have peak work hours over certain months (for example, year-end statements and tax season).
At Venaccurac, we believe that good cash flow management starts with providing our clients with a manageable monthly retainer that enables good cash flow and evens out the peaks and troughs of financial management. Our team ensures that our clients work is taken care of during peak accounting seasons without extra bills that damage cash flow.
To facilitate even cash flow the Venacuracc retainer package includes
For all the professional services you engage in, we recommend monthly retainer packages to assist with cash flow management and sales targets in your business. Find out more here.
At Venaccuracc, as mentioned in #2, in addition to the strategic accounting services we offer clients, we also provide our retainer clients with professional, strategic accounting consultation that empowers clients to make excellent financial decisions.
Why is this important?
Because any business decision you make, whether it is changing suppliers, entering new markets or hiring staff, has financial implications. Your Venaccuracc accountant is able to provide a strategic financial view of your business and advise you according to your budget, financial statements and cash flow.
Financial strategy is an expert field and one seldom available to small or medium businesses. If you want to grow your business beyond its current status then you need a financial expert like the Venaccuracc team.
“We partnered with Venaccuracc when we first opened our doors in 2012. The wealth of knowledge and advise we received really put our minds at ease and we could concentrate on other areas of our business knowing that Venaccuracc had, and still has our best interests at heart. Not only has the Venaccurac teams sound advice enabled us to manage our finances it has also empowered us to make the right financial decisions at the right time which has contributed enormously to our growth into different countries around the world.” – Byron Masollini – the Wikid Agency
To read more testimonials click here.
Working with Venaccuracc on a monthly retainer you have access to and the opportunity for month-on-month strategic accounting advice, expert tax and vat management, strategic budgeting and cash flow advice, financial statements and much more. Click here to find out more.