Business owners with good cash management habits are more likely to have a growing, successful business. They have more control over their business’s cash and more time to grow their business by focusing on their business’s unique value-added products and services.

Here are ten (10) habits you can adopt to help put your business on cash management auto-pilot.

The 10 Cash Management Habits

1. Maintaining up-to-date bookkeeping
2. Keeping accurate books and records
3. Structuring a chart of accounts for meaningful reports
4. Measuring the impact of increasing sales
5. Using cash management tools
6. Working with a cash management dashboard
7. Addressing cash shortages immediately
8. Spending regular, focused time on cash management 
9. Maintaining a positive attitude
10. Asking for help when needed

Habit 1: Maintaining Up to Date Bookkeeping

Up-to-date bookkeeping is critical for knowing where your cash is, where more cash is coming from, and where it needs to go. In other words: bank balances, ac...