Cash flow statements are an easy way for you to track your money coming in and going out. You need to note the opening balance in the first month and then calculate the total incoming and outgoing cash to get the closing balance. You can download a simplified cash flow statement template here from the business.gov.au website.
Effectively managing your cash flow is beneficial for your business’s long-term survival and allows you to maintain working capital during quiet periods. For more information about managing and boosting cash flow in your business, check out our blog.