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We have all heard “cash is king”. If there is anything more crucial to a growing business than profit, it is liquidity. While profitability can be manipulated on the balance sheet, your cash is discrete and finite. Investors and banks know this; as a result, they will use your cash position to determine your business’…
BMO for Women: Financial Forecasting Workshop
BMO’s Jamie Doolittle, Head of BMO Business Banking for Central Region, Ontario, hosts Heather Tuason, CEO of Arena CEO, for a discussion about Financial Forecasting – the New Year’s resolution that pays off.
Reconciling 101
You’re a savvy business owner. You know Intuit’s QuickBooks “QBO” is your accounting software and it produces your company’s accounting file. You know you—or your bookkeeper—are supposed to reconcile your transactions at the end of the month. What you might not know is that once your transactions are reconciled—and only then—you can populate reports that…
Demystifying Business Finances: Does Running Out of Money Mean I Have a Bad Business?
As an entrepreneur, it’s not uncommon to face financial challenges while running your business. Cash flow fluctuations, unexpected expenses, and unforeseen circumstances can sometimes lead to running out of money temporarily. However, it’s important to understand that running out of money doesn’t necessarily mean you have a bad business. In this blog, we’ll explore this…
Accounts Receivable
What are Accounts Receivable and Why Do They Matter? Accounts Receivable are one of the most important components of your revenue line. Very simply, accounts receivable are money you are expecting to flow into your business as a result of work performed or goods and services dispensed. As a business owner you sell a product…
Take these 6 easy 30-60 minute steps to actively manage your cash flow
50% of businesses fail by their 5th year. 82% of those failed businesses say it is because of cash flow. ~ Small Business Administration What the heck is cash flow?! Cash flow for a business is critical to keeping your business going, paying your employees on time, and making sure you have your product available…