It is critical for a startup or early stage business to have proper financial systems in place to monitor and analyze their cash flow and other aspects of their finances. Learn how today's software applications can be utilized to interface with your other financial databases, like your bank, to take a lot of the grunt work out of handling your bookkeeping.
Eighty percent of small businesses fail in the first 18 months because they run out of cash. Many entrepreneurs don’t devote enough time and preparation to setting up their bookkeeping and monitoring their finances, because they think it is too hard or too boring. The good news is that in today’s software application environment, setting up your bookkeeping software is not hard! You can utilize today’s software to interface with your other financial databases, like your bank, to take a lot of the grunt work out of handling your bookkeeping. Once you have systems in place, you will learn how to monitor and manage your cash flow. This is a skill that is critical to the success of your business.
Speaker: Toni DeMarco, SCORE