It is always a good idea to put together a personal or business cash-flow budget, if you do not already have one, for the financial year. A cash-flow budget helps you to see what cash you will have available to meet expenses, by recording the cash you expect to receive and pay out over a chosen period of time.
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- Centralising payment procedures
- Developing close relationships with suppliers to negotiate mutually beneficial payment policies
- Reviewing your cash situation regularly and analysing significant discrepancies from your budget
- Developing an accurate cash flow forecast linked to your budget and strategic plan
- Having appropriate authorisation and risk management policies
- Managing cash holdings profitably
F.A.Q
What is cash-flow management?
The management and analysis of a company’s cash flows. Careful cash-flow management allows a company to estimate the amount of cash that it will have on hand at any one time, project trends in cash inflow and cash outflow, and evaluate whether a shortfall or surplus in cash could potentially occur.
Is budget the same as cash-flow?
A company’s cash budget and its operating cash inflows of its cash flow statement are not the same, but they are closely related and are both needed to create a comprehensive budget. A cash budget measures the amount of available cash a company has at its disposal to pay its short-term operating costs.
Why is managing cash-flow important?
Cash is also important because it later aids payment for things that make your business run: expenses like stock or raw materials, employees, rent and other operating expenses. Naturally, positive cash flow is preferred…conversely, there’s negative cash flow; more money being paid out than being coming in.