and as I mentioned earlier, cash flow report is a very important report that every business owner or entrepreneur should be able to analyze so that you can plan for the next step in business. Almost every business gurus and academics have put pressure on the importance of preparing cash flow report, but unfortunately does not give them a specific guide lines on how to prepare. Cash flow that we mentioned here a report is to determine the dynamics of cash flows where they will show us the cash position at any moment of time, and at the same time can serve as powerful tools to enable us to make as much money as we can through the Fund's investment surplus in short-term investments too, such as the money market situation. This cash flow statement of the book all the recommended accounting text is self-generated cash flows from the balance sheet and profit and loss account and will give in-depth analysis of the recorded net operating and investing or financing activities cash flows.
First of all, if we only had one bank, and must be the opening balance cash position we have for this month's closing balance for the previous month. This can be derived from the balance sheet section under current assets, which will announce the closing balance of the bank balance of the previous month. If for any reason the institution reasons can not be able to produce their company account, such as P & L and balance sheet given the size of their company, they can get on the closing balance of the money the book because this is the basic information that they have to prepare if they still have not set up the accounting system for their business.
If you have only one bank for your business, it is advisable to prepare your payment according to the categories of payment in your cash flow statement. For example, if you have decided to pay your classes are to pay taxes and utility bills, and sub-contractors and suppliers, and other incidentals, you must collect all your bills and invoices, according to the categories of each. Once you start your payment is set up, you should write the checks, according to the serial number of their own. For example, if the beginning of the check from any 000001, and you're going to prepare 20 pieces of checks to pay suppliers, you must have the serial no checks stomach from 000001 to 000020.Subsequently, if you want to set up 10 pieces of checks for subcontractors, must be serial than 000,021 000030.You even numbers can continue to use the same method to pay for others as well. Whether you are preparing to pay manually or using a special print of choice, you must follow the same method.
applies the same concept when we received the checks from clients and customers. Following the same method, if you have some major customers that the total is usually up to approximately 80% of your income, and you are highly recommended to classify all of its major clients in your income groups. Other income, which is usually made up about 20% of your income, you can simply identify them under other categories.
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