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Cash is King at the best of times. In what now appears to be the worst of times, cash is the single most important component in your business.

So many businesses manage cash by looking at and analysing their bank statements. It’s the equivalent of Googling a medical symptom instead of going to an experienced Doctor.

Take the first step and begin by using this simple thirteen [13] week cash flow forecast spreadsheet.

Enter the opening bank balance.

Fill in what monies you expect to receive each week by customer.

Fill in what monies you expect to pay each week by supplier. You know what week salaries and VAT are due.

Now you have a focus.

At the beginning of each week, enter the monies that were received and were spent in the first week.

Make changes in the rest of the forecast based on any new knowledge.

Add a new thirteenth week and forecast for that.

You are far ahead of the herd in understanding your cash position.

It’s a start, but it’s a very important start.

We are here to help

If you require any assistance, please reach out and email me directly at david.daly@gtag.ae.