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Cash Management is an accounting term that refers to the process of managing or safeguarding and tracking the cash in your business. This is essential to your business.
Whether you run a little side business from home or a large manufacturing facility, you need to keep tabs on your cash. As they say, cash is the lifeblood of any business.
This process of Cash Management involves using certain tools to keep tabs on cash thru the day to day operations of your small business. It also involves learning to prepare and use certain reports to analyze cash, and find out where it’s coming from and where it’s going.
You may think, well, duh, it’s coming from my sales. Yes, but which product or service? And which customer? Or what branch office?
If you’re planning for small business growth, and we hope you are, it is best to let our professionals at United Accounting Services handle it for you.