At this time of year we often reflect on the past year. We’ve taken our most popular blog and reposted it, enjoy!
In the planning stages of your small business, one of the most important things to do is estimate your cash flow and create a plan to make these goals a reality.
But how do you make sense of a cash flow forecast? You may have done your research and estimated your monthly expenses, but are not sure how to organize this on paper or present it to others.
You are not alone! Many individuals are unsure how to organize their cash flow, or may simply need a guide to follow.
Luckily, there are a number of tools available to help new and existing entrepreneurs create their cash flow forecasts and statements.
1. Cash Flow Section of a Business Plan
As mentioned in previous posts, there are many business plan templates available online whether through banks or organizations like Canada Business Ontario (CBO). If you require guidance, simply use the cash flow section of a business plan template to help you through this process.
2. Cash Flow Templates
There are also specific templates available online to complete your cash flow forecast or statement. Although they may be similar to the ones in the business plan templates, some are different. For example, Microsoft Word has cash flow (and many other small business) templates available for download, so you can easily input your cash flow information into Microsoft Word.
3. Small Business Software
You may wish to purchase a computer software program to complete your small business work and cash flow forecast and statements. If you feel that you would rather not use a computer, copy the information and handwrite if necessary or desired.
A few resources to help you begin your cash flow include: