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Cashflow tip – Handy tool to see the effect small changes make to profit and cash
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Published on Monday, 26 June 2017 12:16
Understanding your cash is critical to your business success, and a handy tool from the bank NAB, is an online cash flow improvement tool. Whether using MYOB, Reckon/Quickbooks or Xero for bookkeeping, you should Try it and see what you think! (or Click picture below to go to the page).
Type in the amounts that apply to your sales, cost of sales and expenses etc on the left side
On the right side, you can see what effect 1% or 1 day of improvement can have on your cash position – or type in other amounts that you want to aim for, and see what effect potentially you could achieve!
For an explanation of how it works, read this article by NAB.
Then print the page to keep your goals on your desk – a nice summary to aim for - and engage your team to assist so you all win!
Let us know how you went…!
For other NAB cool tools see Calculators and tools
Also see Cashflow tip – 4 Tips to help cashflow
Or Cashflow tip – Pricing for Profit – Improving financial health
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