The Numbers Edge helps business owners easily understand business finances and bookkeeping to increase profit and improve peace of mind.
Joined February 2020
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Maximizing efficiency creates time. Do you need more time to focus on what you are good at in your business? Let The Numbers Edge teach you how to take your business to the next level. #efficiency #business #finance #thenumbersedge
If you find your business needs cash, and you're not used to that: Make sure you’re invoicing promptly. This is a good rule to follow all the time, but when cash is tight, you should be sending invoices at the earliest possible moment you can get them out to your customers.
If you are having a low or negative cash flow, your next credit card payment and amount are to be quickly assessed. Determine the minimum payment allowed to be made on the credit card and assess the consequences of paying less than the full balance. #cashflow #payment #creditcard
If you find your business in a nail-biting cash situation, and you're not used to that, the “float,” or value of uncleared checks is to be analyzed, to determine to what extent “float” can be relied upon if needed. #unclearedcheck #float #finance #tne
In general, holding printed checks is discouraged as a practice, as it is preferred not to print the check at all so that Quickbooks reflects vendor balances more accurately. #checks #quickbooks #finance #tne
Each accounts payable item should be attributed to a “target date” to send payment and assigned a grade regarding the extent to which the vendor can be stretched (and by how long). #accountspayable #targetdate #payment #tne
Decide how you want customers to pay you. Ideal is ACH where you're in charge of collecting the payment. It is easy and low cost. (The Numbers Edge uses PaySimple). Credit card processing has lots of options. #ACH #payment #paysimple #tne
