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  • Naomi Cauley

Keep Cashflow Info Flowing

Cash flow is important

By keeping your bookkeeping up to date and recording your revenue and expenditure, as well as expected payment dates, you can get a more accurate picture of your cash flow.

Monitoring your cash flow can give you peace of mind that your business has enough cash to cover your current and upcoming expenses. It can also help you plan your budget. You will be able to more accurately predict future income and make informed decisions about future spending and investments.


1. Connect accounts

Make sure that you've added all of your business accounts to your bookkeeping software. All of your bank accounts, business credit cards and loan accounts should be added as a bank account type of category.


We recommend that you set up direct bank feeds so that your transactions are automatically imported into your bookkeeping software wherever possible. If you’re bank doesn’t support bank feeds, you can usually download an appropriate file type for importing to your software manually.


Most payment services, like PayPal, Stripe and Square also direct feed into most bookkeeping software applications. It can be helpful to also set up your petty cash as a bank account as well.


2. Reconcile frequently

Now that you have up-to-date account information, you can reconcile the bank transactions as they appear. This is to make sure that the money coming in and going out of your accounts match your business transactions. We recommend that you do this frequently. You can see when items need reconciling from your dashboard.


3. Manage expenses

Make sure to correctly account for business expenses that you've paid for personally or personal expenses that have been paid for from business accounts.


Managing expenses helps you to maintain an accurate representation of your business outgoings.


4. Add payment dates

When an invoice won’t be paid by the due date, add an expected payment date, so you have a more accurate record of when money is likely to come into your accounts.

Add bills ahead of time, as soon as practical after receiving them, so you know when bill payments are due.


Mobile: 0408 806 180 Email: contactus@bookiebookkeeping.com.au Website: www.bookiebookkeeping.com.au


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