Littlebird Inductions

Where have you been? because we have been here, and we are here now to give you the answers!

Why Cash Flow Management is the Number 1 Priority for Business Owners

November 3rd, 2015

It does not matter whether you business operation is large or small, cash flow is necessary for survival. There are times in any sort of operation when cash abounds as well as different times when money is scarce. Although it may be difficult, it is important to evaluate your business cash patterns as accurately as possible, and more particularly when your business is young or in a growth phase.

Plan Your Cash Flow

Even when you are diligent in managing your receivables and accounts payable, it is not always feasible to control the factors that could influence your business cash flow. It is therefore an extremely good idea to have plans that enable extra money to be available when uncommon events occur. Let’s have a look at some alternatives to increase cash flow even when times are tough.

Here is great small business accounting software to plan cashflow

Boost Prices

For whatever reason, a lot of small businesses tend to charge less than they should. So increasing prices is one of the options you must seriously think about to increase cash flow.

Have a Sale

Small companies can utilize sales as well as large companies, especially when business is slow. If you have inventory that is slow moving, or damaged, or obsolete, then you could benefit from a sale. You can also use holidays and special occasions such as Christmas, Easter, Valentine’s Day and Thanksgiving as reasons for a sale. However, you need to consider sales carefully as you do not want to have a regular sale that people expect. And you have to remember that when you reduce the price of an item, you need to sell more volume to make the same amount of money.

Offer Discounts

Another potential way to increase cash flow is to discount your prices. Discounting could generate more sales because just about everyone enjoys a deal. However, as we mentioned in the section on ‘sales’, when you offer discounts, you have to sell a greater quantity to make the exact same amount of profit. For instance, when you offer a 10% discount on an item that has a gross sales margin of 33 %, your quantity has to increase by 50 % in order to make the same profit. So I would not recommend that you use discounting as not a long term strategy, although it can bring about short term gains.

Lease or Sell Assets No Longer Needed

Another technique you could use to enhance your small company cash flow is to lease or offer properties of the business that are no longer being made use of for sale.

So there are a few suggestions for improving the cash flow of a small business. The fact is, as I stated at the start, cash flow is vital for a small business to survive. Consequently, this is the number one financial element that small business owners need to focus on.

Benefits of using accounting software in a small business

May 26th, 2015

For many business owners, accounting can be quite a mind-numbing and time consuming task. To make things much easier, it is best to invest in great accounting software that will help with accounting operations and managing of accounts. Below are some of the advantages that a business can get using the software.

easy accounting software for small businessVery easy to use
There is no need of worrying about complex accounting details when using this type of software. It is normally very simple to understand and once it has been set up, all the accounts can be kept up to date with regular data entries. All the work is done efficiently with just a few clicks.

Helps businesses save cash
The software can be used to manage cash flow in the right way without the need of hiring a professional accountant that can be quite costly. With this, a business owner or manager can monitor profits and losses in a logical manner. Additionally, it can also help in determining creditors’ discounts and incentives for the employees.

Mistakes made while calculating manually can lead to huge losses for a business or other negative issues. Accuracy is very vital for any business, and the software makes sure they are avoided.

Boosts productivity
Using the software eliminates the need for paperwork that can side track and wear out employees. Since half the work has already been done, there can be an increase in the productivity of the employees. This is a great step for any business as it can help maximize profits. Learning how to use the software requires the staff to learn a new skill, and this can make them feel motivated to offer better results.

Uncover fresh opportunities
An excellent software will help track everything that is happening in the accounting department including revenue, losses, and trends, etc. At this point, the entity can unearth new ways of making money that could have been overlooked before.

Remote access
A person does not have to be at the location of the business to obtain accounting details. With the proper security code, business owners can take advantage of an online connection that makes it very easy to access bank information, invoice clients, and evaluate the financial status of the business anytime anywhere without any complications.

Permits trading in multiple currencies
Modern accounting software allows business people to trade using different currencies without any problem. This implies clients can come in from different parts of the globe without the entity experiencing any issues in regards to exchange rates.

Right here is some great information about accounting software!

February 9th, 2015

If you are looking for the most effective bookkeeping software application on the net, I highly suggest you review the site link below. This software has become the record keeping program of choice for many different small companies worldwide over recent years!

accounting software

The best part is you don’t have to be an accountant, or even recognize anything concerning accountancy, to apply its numerous convenient devices in your business. It is simple, easy to understand and keeps accurate records that will protect you if you are unlucky enough to get a tax audit.

So, put the time aside to download a free trial and see for yourself how this program can help you manage your business financial resources. This great product will help you improve your business, and I urge you to consider this great product for your business. Do it now to help ensure your business success both now and into the future!

Click here for more info: amazing accounting software

accounting software