7 Ways Bookkeepers Can Help Improve Cash Flow

Hello People,

I have been in the company of bookkeepers who have always kept me entertained with their stories of pulling businesses out of a financial crisis or taking it to a new height. Since my wife is a bookkeeper, we have several friends in the same sector who keep frequenting our house and have become like family. So when our daughter decided to become a stylist, her mother was not very happy. I was shocked to know because she loves dressing up and has always had a strong taste in fashion. We talked about it and she told me that she had been influencing Samantha all through her life with her bookkeeping skills but she picked fashion over accounting. I understand that bookkeeping is an important part of our lives and businesses, but then everyone should have the freedom to choose their career. So, however, a few years passed and my daughter started her own fashion boutique and she needed bookkeeping advice. So obviously she turned to her mother, who had now retired and was not getting involved too much. Anyway, the business started plummeting and suffering financially. Well, the reason was that Martha wanted to show her the importance of bookkeeping. It was also the point when I discovered that bookkeepers can help in improving cash flow through their advice and guidance. We all learnt the significance of a bookkeeper when Martha was able to get Samantha back on track. Things are much better between them. Due to a change of heart Samantha has now enrolled for a certification in bookkeeping and accounting and is going to learn the craft further from her mother. It has been great to see them bond once again after so many years and I glad that it happened because of bookkeeping. Of course, coming back after the debacle was not easy for the boutique as there was serious cash deficit. However, tactics like invoicing frequently and bank account reconciliations helped us to find out that there was actually a fraud going on in the company and the culprit was a close associate of my daughter. We were relieved to find out the problem and got rid of the person without any delay. Then we reduced the business expenses and managed the debts efficiently to come back with a bang. The boutique is now a recognised brand in our region and we are getting new orders and clients every day.        

https://www.agibookkeeping.com.au/7-ways-bookkeepers-can-help-improve-cash-flow/