What Is Cash Flow And Four Powerful Apps To Help You Manage It – Forbes
Many new business owners believe they understand cash flow as it is a fairly easy concept to grasp. The challenge is getting a daily real-time look into your cash position without spending a fortune with your accountant or bookkeeper. These four web-based solutions can help.
Cash flow is how money moves in and out of your business usually over a set period of time. Cash flow statements can help you figure out if a specific project makes sense or if you have a liquidity problem. You can be profitable and still not have cash on hand. The key is measuring and evaluating your financial health on a regular basis.
There is no shortage of tools in the market place today. Intuit’s QuickBooks is one of the best known small business financial software packages and it has various cash flow tools within it. You can also get great cash flow templates for Microsoft Excel or other spreadsheet programs.
60 MO is a financial dashboard and forecasting tool that I reviewed last year at Small Business Trends. You can read that review here. The company recently joined or was acquired by FreeAgent, an online accounting solution. But you can think of 60 MO as Mint for Business that allowed you to blend reports and data from a range of sources. They did not have the capability to do cash flow statements when I reviewed them, but this new alliance with FreeAgent makes that possible. It is a robust set of tools and has a flat price of $24/month.