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How to how to manage cash flow, reduce the burden ❗ for business to be flexible


How to how to manage cash flow, reduce the burden ❗ for business to be flexible  🔸What is cash management? Cash flow management is to create cash efficiency. as a cash management strategy To have good cash flow with liquidity covering both cash inflows and outflows including the use of investments in various securities  Optimizing the use of cash By using cash to invest for benefits And can still maintain the liquidity in the right amount. cash management whether it is cash related to personal finance or business finance All must understand and have a careful financial planning can be assessed. and manage the risk of cash flow in the case of investing money  🔸 Why do you need to know cash management? Cash means cash on hand and bank deposits. (Does not include money to be paid back at maturity) Cash on hand includes coins, banknotes, checks that have not been deposited. Traveler's checks, bank drafts and money orders  cash management It can reduce the risk of financial liquidity. cause no jamming or financial stumbling which is the cause of borrowing and interest expenses  In addition, effective cash management For those entrepreneurs It can also increase trade opportunities as well. for example Compare businesses with flexible cash flows. would create credibility for service users including more business partners The more the demand for goods and services increases. Business with good cash flow will be able to invest in purchasing products and adding services to meet the increasing demand More than businesses that are faced with liquidity problems.  🔸Effective cash management methods that help streamline finances 1. Look at the risks and prepare for them in advance. Reputed to do business, there will always be risks. Which may be an event that you never expected before. For example, during the heavy outbreak of COVID-19 in the past, it was one of the events that no one thought would happen. Many stores can't sell anything at all. Many stores have to adapt a lot. And many stores have to close because they don't have cash flow or have money in reserve to support the business to continue.  So business owners like you need to know how much cash they have at the store. Then simulate in advance that if something like this or more serious happened. How will the store manage its cash flow? Let's analyze the risks and come up with a plan in advance.  2. Check Cash Flow or Cash Flow Regularly An online accounting program like Quickbooks Online or Xero allows entrepreneurs like you to do bookkeeping, view income-expense reports. It makes planning your cash flow easier, and there's a lot more to it! It must be said that nowadays many POS systems are compatible with this accounting program very well. Making it easier to manage the store and view accounts. For example, the StoreHub POS system has functions to connect to Quickbooks Online, Xero and various online accounting programs, making it easier for store owners like you to do everything in one system.  3. Investment planning Of course, in doing business Planning is necessary and important. especially the issue of cash management. and management within the organization The entrepreneur should have a clear investment plan. and set aside funds for investment By planning, it gives entrepreneurs the opportunity to invest more precisely than not being prepared for sure.  4. Cash Estimates for Emergencies Many plans may not always go according to plan. Setting aside an emergency fund is something that entrepreneurs should not overlook. Especially the issue of cash management because if neglected at this point in the event of unexpected expenses. It may result in a lack of liquidity itself.  5. Reduce unnecessary expenses Look at the expenses of the shop and see what they have to pay each month. And what is the cost per quarter or year, how many lumps, how many times, how much is the total amount? Then see where the cost can be reduced in the shop, such as reducing water and electricity bills. Ask the staff to help monitor the use of water and electricity. Reduce the use of glass/plastic bags in the store. Negotiate a rent reduction Hire part-time employees to replace non-essential employees. and canceling services that the shop rarely uses  Don't forget that some small expenses at the store are still payable even if they are not fully utilized. Over time, they can accumulate large sums of money as well. So let's take a look at some of the expenses you can cut out and your cash flow and in-store finance will improve.  6. Efficiently track inventory When tracking and analyzing the movement of stocks effectively You will know which products are selling well and not selling well. Which products should be stocked and which products should stop selling? Because if you don't have accurate stock information and predict everything with probability. It will result in excess stock, causing the cash flow to sink into the inventory instead of using the cash flow in the store to manage other parts. So how can the shop have income or profit? Is it true? We recommend opting for a good POS system that includes a stock counting program. You will definitely be able to manage your inventory and manage your cash flow better in the store.  According to QuickBooks, 71% of small business entrepreneurs worldwide who experience cash flow problems often have trouble paying suppliers. So if you don't want to be in such a difficult situation, you shouldn't overstock. which is the best way The store must count and track the stock accurately.  7. Manage cash receipts and cash payments efficiently. In doing business, there is a rotation of money from cash received - money paid out. by managing cash efficiently and reduce liquidity risk Operators should shorten the cash receipt period. or make the collection of money for goods or services of customers faster  8. Encourage customers to shop in-store faster with deals. Another way to make your cash flow better is to Organizing in-store promotions or offers, such as percentage discounts Give an amount discount and give away free gifts when purchasing products as scheduled, etc. Don't forget to calculate in advance how to organize promotions so that you won't lose money.  As for the group of customers that are most suitable for sending direct promotions to the store to promote, they are customers who use a CRM system to collect customer information such as names and phone numbers. In order to be able to spread good news from the shop via SMS, this will help customers make faster purchasing decisions. And it helps the shop to have money to go to the shop faster. When there is income in the store, it is equal to that the store has money in the store. causing cash flow  It can be seen that cash management It is important and beneficial to both personal money management. as well as financial management in the corner of the business as well. Let's try to apply all 8 cash flow management techniques and try to apply them. Guarantee that the shop's finances will be flexible, no jam for sure.  ------------------------------------------------------------------------------------- Interested in online marketing care services | online marketing | complete graphics | can contact us anytime | brand building | online marketing | online marketing plan | brand building | Facebook fan page care | Take care of LINE OA. You can contact us 24 hours a day.   Details of online marketing services >> https://www.chatstickmarket.com/langran Examples of various brands that we take care of online marketing >>https://www.chatstickmarket.com/portfolio ---------------------------------------------------------------------------------------  💙 Consult our team 💙 📱Tel : 0840104252 📱0947805680 Office Hotline : 034-900-165 , 02-297-0811 (Monday-Friday) 📨 Inbox : http://m.me/ChatStick.TH ┏━━━━━━━━━┓ 📲 LINE: @chatstick ┗━━━━━━━━━┛ or click https://goo.gl/KuzCpM 🎉 details at http://www.chatstickmarket.com/langran 🎉 See our work at https://www.chatstickmarket.com/portfolio

How to how to manage cash flow, reduce the burden ❗ for business to be flexible


🔸What is cash management?

Cash flow management is to create cash efficiency. as a cash management strategy To have good cash flow with liquidity covering both cash inflows and outflows including the use of investments in various securities


Optimizing the use of cash By using cash to invest for benefits And can still maintain the liquidity in the right amount. cash management whether it is cash related to personal finance or business finance All must understand and have a careful financial planning can be assessed. and manage the risk of cash flow in the case of investing money


🔸 Why do you need to know cash management?

Cash means cash on hand and bank deposits. (Does not include money to be paid back at maturity) Cash on hand includes coins, banknotes, checks that have not been deposited. Traveler's checks, bank drafts and money orders


cash management It can reduce the risk of financial liquidity. cause no jamming or financial stumbling which is the cause of borrowing and interest expenses


In addition, effective cash management For those entrepreneurs It can also increase trade opportunities as well. for example Compare businesses with flexible cash flows. would create credibility for service users including more business partners The more the demand for goods and services increases. Business with good cash flow will be able to invest in purchasing products and adding services to meet the increasing demand More than businesses that are faced with liquidity problems.


🔸Effective cash management methods that help streamline finances

1. Look at the risks and prepare for them in advance.

Reputed to do business, there will always be risks. Which may be an event that you never expected before. For example, during the heavy outbreak of COVID-19 in the past, it was one of the events that no one thought would happen. Many stores can't sell anything at all. Many stores have to adapt a lot. And many stores have to close because they don't have cash flow or have money in reserve to support the business to continue.


So business owners like you need to know how much cash they have at the store. Then simulate in advance that if something like this or more serious happened. How will the store manage its cash flow? Let's analyze the risks and come up with a plan in advance.


2. Check Cash Flow or Cash Flow Regularly

An online accounting program like Quickbooks Online or Xero allows entrepreneurs like you to do bookkeeping, view income-expense reports. It makes planning your cash flow easier, and there's a lot more to it! It must be said that nowadays many POS systems are compatible with this accounting program very well. Making it easier to manage the store and view accounts. For example, the StoreHub POS system has functions to connect to Quickbooks Online, Xero and various online accounting programs, making it easier for store owners like you to do everything in one system.


3. Investment planning

Of course, in doing business Planning is necessary and important. especially the issue of cash management. and management within the organization The entrepreneur should have a clear investment plan. and set aside funds for investment By planning, it gives entrepreneurs the opportunity to invest more precisely than not being prepared for sure.


4. Cash Estimates for Emergencies

Many plans may not always go according to plan. Setting aside an emergency fund is something that entrepreneurs should not overlook. Especially the issue of cash management because if neglected at this point in the event of unexpected expenses. It may result in a lack of liquidity itself.


5. Reduce unnecessary expenses

Look at the expenses of the shop and see what they have to pay each month. And what is the cost per quarter or year, how many lumps, how many times, how much is the total amount? Then see where the cost can be reduced in the shop, such as reducing water and electricity bills. Ask the staff to help monitor the use of water and electricity. Reduce the use of glass/plastic bags in the store. Negotiate a rent reduction Hire part-time employees to replace non-essential employees. and canceling services that the shop rarely uses


Don't forget that some small expenses at the store are still payable even if they are not fully utilized. Over time, they can accumulate large sums of money as well. So let's take a look at some of the expenses you can cut out and your cash flow and in-store finance will improve.


6. Efficiently track inventory

When tracking and analyzing the movement of stocks effectively You will know which products are selling well and not selling well. Which products should be stocked and which products should stop selling? Because if you don't have accurate stock information and predict everything with probability. It will result in excess stock, causing the cash flow to sink into the inventory instead of using the cash flow in the store to manage other parts. So how can the shop have income or profit? Is it true? We recommend opting for a good POS system that includes a stock counting program. You will definitely be able to manage your inventory and manage your cash flow better in the store.


According to QuickBooks, 71% of small business entrepreneurs worldwide who experience cash flow problems often have trouble paying suppliers. So if you don't want to be in such a difficult situation, you shouldn't overstock. which is the best way The store must count and track the stock accurately.


7. Manage cash receipts and cash payments efficiently.

In doing business, there is a rotation of money from cash received - money paid out. by managing cash efficiently and reduce liquidity risk Operators should shorten the cash receipt period. or make the collection of money for goods or services of customers faster


8. Encourage customers to shop in-store faster with deals.

Another way to make your cash flow better is to Organizing in-store promotions or offers, such as percentage discounts Give an amount discount and give away free gifts when purchasing products as scheduled, etc. Don't forget to calculate in advance how to organize promotions so that you won't lose money.


As for the group of customers that are most suitable for sending direct promotions to the store to promote, they are customers who use a CRM system to collect customer information such as names and phone numbers. In order to be able to spread good news from the shop via SMS, this will help customers make faster purchasing decisions. And it helps the shop to have money to go to the shop faster. When there is income in the store, it is equal to that the store has money in the store. causing cash flow


It can be seen that cash management It is important and beneficial to both personal money management. as well as financial management in the corner of the business as well. Let's try to apply all 8 cash flow management techniques and try to apply them. Guarantee that the shop's finances will be flexible, no jam for sure.


-------------------------------------------------------------------------------------

Interested in online marketing care services | online marketing | complete graphics | can contact us anytime | brand building | online marketing | online marketing plan | brand building | Facebook fan page care | Take care of LINE OA. You can contact us 24 hours a day.

Details of online marketing services

Examples of various brands that we take care of online marketing

---------------------------------------------------------------------------------------


💙 Consult our team 💙

📱Tel : 0840104252 📱0947805680

Office Hotline : 034-900-165 , 02-297-0811 (Monday-Friday)

┏━━━━━━━━━┓

📲 LINE: @chatstick

┗━━━━━━━━━┛

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