All businesses need to keep an eye on their cash flow. Running out could mean that you run into financial difficulty or even have to temporarily cease trading, even if you’re profitable.
To help you manage your cash flow more effectively, we’ve developed a cash flow forecast template specifically for SME retailers.
The objective of a cash flow forecast is to ensure you have enough accessible cash in your business to pay for the things that keep it going. Your cash flow forecast will reveal whether and when a shortage of cash is expected, giving you a chance to address this.
A cash flow forecast shows the expected monthly incoming and outgoing money of your business for a 12 month period (this could include; cash payments, bills, wages, direct debit transfers, cheques etc). It also shows your expected cash position (i.e. surplus or deficit) for each month.
Simply download our simple cash flow template to help you get started.
Every business will have its own bespoke cash flow forecast, as it will include income and outgoings that are specific to it alone. Therefore it is important to tailor the template to your business. Remember that a cash flow forecast relates to the actual monthly income and expenditure of your business, so only record items when money is received in or paid out.
Don’t file your cash flow forecast away once it’s complete. Look at the figures and think about what they tell you about your business. For example:
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