It is vital for every business to track performance over time, to monitor and address cash flow issues before it’s too late. Tracking accurately reveals how you are performing against your plan and allows you to revisit your budget with a clear path to improve your cash flow.

Tracking your performance can help you:

·         Operate profitably and continue to generate a positive cash flow.

·         Make changes to improve cash flow in a timely manner.

·         Make informed decisions.

·         Gather and analyse comprehensive information to prepare reports.

Help identify issues early.

Measure how well your business is performing so you can make informed business decisions.

Keep track of your cash flow by monitoring the money you pay out, and the money that comes in.

Reduce the risk of employee theft.

Claim as many allowable deductions as possible.

Show your financial position to banks and other lenders, or prospective buyers of your business.

Make best use of time with your advisor for business and financial planning rather than sifting through papers. or your employees, and your business activity statements.

Knowing and planning for all of your commitments can help you to avoid unnecessary cash flow stress.

Prepare for large payments.

Know how much to put aside to meet your commitments when they arrive.

Look at negotiating where certain payments fall within the year.

Be in control of your financial commitments, without any surprises.

Feel prepared for the unexpected.

Understand the financial ramifications of the decisions you make within your business.