Maintaining adequate cashflow is a key factor in the success of any business.
So if you’re worried about your cashflow, the key is to look forward on a rolling basis.
I recommend adopting a 13 week cashflow forecast model.
We provide our clients with a template into which your bank account balance figure can be inputted. Our template then sets out the typical areas of dental business income and outgoings.
Either you or your Practice Manager is then responsible for inputting these figures and keeping the forecast up to date either weekly and fortnightly. It’s something that can be used quite easily and is effective so long as it is updated consistently.
By actively managing your cash in this way, you can see when things will start to get a bit tight and discuss ways to generate additional revenue, stop costs, delay appropriate payments or highlight a short term funding requirement to get through any rough patch.
We discuss your forecast with you regularly, so it takes away the worry and stress over your cashflow.
Remember if you need assistance with this or any other financial matter, please contact Clear Vision on 01249 712074.
We’re here to help.