Running a successful small business requires a combination of experience, trial and error, and arguably the most important of all, research. Cash flow management is no walk through the park, especially if you don’t have access to the correct resources to educate yourself with. If you’re looking for content that will help improve your business’ cash position, take a look at this compilation of eight resources that might be just what you need.
#1 QuickBooks Resource Center & Blog
With QuickBooks being one of the leading cash flow management softwares used by businesses today, it’s no wonder their resources can be found on this list. QuickBooks by itself, with its features and add-ons, is an incredible tool for starting to improve your company’s cash flow and organize your business’ finances.
However, the company also provides us with a hefty amount of external resources for both using their software and general guides, tips and tricks regarding small business accounting. All of this information and more can be found in their Resource Center, their community group made of experienced accountants and QuickBooks Pro Advisors, as well as the numerous articles on their blog.
#2 Entrepreneur’s Network of Resources
Entrepreneur is an adequately named all-encompassing network of articles, videos, a newsletter, a magazine and more, all on the topic of being an entrepreneur and starting your own business. In particular, they have a list of articles revolving around accounting in regards to having your own company or startup that will prove especially helpful when wanting to improve your cash flow.
The posts are all marked with how long they take to read, ranging from three to ten minutes, in bite-sized snippets of information. From “5 Accounting Challenges Startups Face and the Tools That Will Help Fix Them” to “7 Crucial Money Tips to Failure-Proof Your New Business”, their articles can help any type of business owner, especially those wanting to improve financially.
#3 Finance & Accounting Resources by NFIB
Describing themselves as “the voice of small business”, the nonprofit company NFIB provides us with a helpful collection of articles, infographics, videos and webinars on diverse topics surrounding the aspects of running a small business – and that includes several tips and resources for managing and improving cash flow.
The business resource section of their website can be filtered down to specific subjects and formats, from marketing to human resources. However, for managing cash flow, we find their Finance & Accounting articles to be the most useful collection they have.
#4 Wave’s Accounting 101 for Startups
Much like QuickBooks and other leading softwares, Wave is an award-winning company that prides themselves on offering an array of financial services and programs for small businesses. Like many other companies, they don’t stop at just providing the tools, they also give us the info we need to get started, even as a total rookie.
Their “Accounting 101” outline is aimed towards tech startup companies who are just starting out – but if you’re a more experienced startup, or one in a different field, don’t let that faze you. The resources they’ve listed can be beneficial for any company to read and base their improvements on, even if it means going back to the basics for a moment.
#5 Small Business Accounting Checklist by QuickBooks
Going back to the software QuickBooks, we’ve found that the accounting checklist they’ve put together for small businesses can be especially helpful in a cash flow management perspective. In the checklist, they outline the basic accounting tasks that should be done daily, weekly, monthly, quarterly and annually.
When you give it a thorough read, you might find that you’re skipping some steps in your accounting process that are crucial for maintaining a high cash position.
#6 Small Business Guides by Xero
Founded in 2006, Xero is another company that’s helping small businesses thrive with their accounting software tools and guidance. Their site includes a resource section made up of podcasts, training courses and their guides aimed towards both small businesses and accountants/bookkeepers looking to improve.
To get started with their guides, you might want to try checking out this article they wrote on building a watertight accounts receivable process and how to do it, which is no doubt a key factor in any business’ cash flow position.
#7 FundThrough’s Ultimate Cash Flow Guide
Companies like FundThrough pride themselves on utilising expert opinions and research to create content that can educate and help anyone, even the most experienced of business owners.
On their site, we feel that the most helpful piece of content they’ve put out on this topic is their Ultimate Cash Flow Guide, a comprehensive collection of the most valuable tips and tricks available for achieving the best cash flow possible.
#8 Crash Course on Cash Flow Management by Bond Street
The business lending company Bond Street has a website primarily focused on bringing valuable content to the table. On said website, you can find their main blog focusing on entrepreneur stories, a resource center, as well as content such as profile interviews and a newsletter podcast.
Here, you can find a number of tips and tricks for cash flow improvement across all sections. However, our favorite guide by Bond Street has to be their crash course on cash flow management, from the basic definition of the concept, to the financial challenges faced by businesses and how to avoid them.go back