The number one issue affecting small businesses: monitoring your cash flow

Cash flow is the number one issue affecting small businesses and having quick access to precise and useful data on your expenditure makes it simple to monitor.

In the day-to-day of running a small business, you know you need to keep up with your purchase receipts, but getting your books in order takes way too much time and energy.

The hassle of dealing with piles of small pieces of paper, filing them, noting them in your system and also tracking online purchases makes for a disorganised and unproductive process. It may seem unavoidable and you may have put it down as one of the pains of doing business. At some point, you may have hired someone else to deal with it all. But it doesn’t have to be this way.

Products like Receipt Bank help small business owners keep track of their bookkeeping and cash flow effortlessly, significantly cutting down the time spent going back and forth between your bookkeeper and accountant.

By introducing Receipt Bank and their seamless bookkeeping technology you can reduce the time spent entering your data into your system while easily keeping track of expenses in a way that is accurate and up-to-date. Customers like Nathan Jakubenko, owner of Waves on the Beach, have already made the switch to the software and said it has revolutionised the way they do business. 

Every little detail is recorded. There’s no need to worry if you have multiple suppliers, clients or business partners to track transactions with because Receipt Bank enables you to add everyone. And with everything digitised and integrated with Xero, you can be assured that all your important data is secure and safe, reducing the risk of making errors.

This content was brought to you by Receipt Bank. World leading software that automates your bookkeeping. To discover more or sign up for a free trial of the product please click here.

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Chloe Potvin
Chloe Potvin is the former small business editor for Kochie's Business Builders.