Lack of funds in the cash register is a serious enough problem for every business. A temporary lack of funds, if mismanag, can develop into a permanent one, which will have an extremely negative impact on the entire company. Therefore, in order to minimize risks or avoid a gap, it is important to follow several rules. Let’s consider ways to “close” the gap.
1. Create a payment calendar and automate the accounting process
To see the cash gap in advance, it is necessary to keep constant records and control of cash flows. You must calculate all plann cash inflows and outflows in country email list advance, at least a quarter ahead. All this must be enter into a table and look for when “risky” periods for business operations arise. This will help prevent a cash gap.
Such a plan or tabular accounting of cash flow is call a payment calendar. Using a payment calendar helps manage cash flows more consciously and minimize the risk of a cash gap. However, all this does not have to be done manually. To spe up and automate the process, you can use special tools and programs.
There are many cash flow tools that help prict factors influencing consumer behavior cash flow gaps. Both simpler applications that are suitable for beginners and can be us for free (Excel tables), and more complex ones with advanc functionality that will take into account all the data automatically.
Cash Flow Accounting Tools
Payment calendars are available in any advanc management accounting system. They help automate processes, simplify management, and make forecasts bas on existing data. Let’s look at the following tools.
1. Excel and Google Sheets. Free, the simplest and trust review most accessible cash flow control tool for everyone. You can keep track of cash flows with any level of technical training. The downside is that it is not automat, not connect to your internal software tools, and to prict the cash gap, all data will have to be fill in manually.
2. 1 °C. A popular accounting and financial analysis automation system in Russia. It provides tools for managing cash flows and calculating the cash gap.
3. Financial management programs. FinMAP, PlanFact. These services allow businesses to manage finances online, forecast cash gaps and build budgets.
4. CRM systems with a financial module. For example, Bitrix24. They offer built-in financial modules for calculations and cash flow management.
5. Cash flow forecasting services, such as Float. These platforms are design specifically for forecasting and analyzing cash flows. They allow you to automatically update forecasts bas on current data, set up different scenarios to assess the impact of different factors on cash flows, and organize the account.
