609 Practical Tips for Cash Flow Management
In this episode of the IT Business podcast, Uncle Marv discusses cash flow management with Heather Zeitzwolfe, a CPA and profit strategist. They delve into the importance of understanding the difference between profit and cash flow, emphasizing the significance of tracking business finances effectively.
Heather highlights the distinction between profit and cash flow, stressing that profit is what remains after expenses are deducted, while cash flow refers to the movement of money in and out of a business. She emphasizes the need for business owners to track their finances diligently to avoid confusion between profit and available cash.
Moreover, Heather suggests using tools like QuickBooks to visualize cash flow effectively, enabling business owners to monitor money coming in and going out. By understanding the timing of cash flows and maintaining reserves, businesses can navigate uncertainties and ensure financial stability.
Heather's approach blends her analytical skills with creativity to help clients interpret financial data and strategize for the future. Her unique focus on working with vegan clients showcases her commitment to ethical alignment in her business partnerships.
=== Time Stamped Highlights:
- 02:29 - Introduction of Heather Zeitzwolfe, a CPA specializing in virtual CFO services.
- 03:27 - Discussion on the difference between profit and cash flow.
- 05:28 - Importance of tracking business finances effectively.
- 09:19 - Tips for understanding cash flow early in business operations.
- 31:24 - Blending analytical skills with creativity in financial services.
- 37:40 - Ethical considerations in client partnerships for a vegan CPA.
=== Links from the show
Website: Zeitzwolfe Accounting
Navigating Taxes for Solopreneurs Workbook: https://tinyurl.com/43kt4nu3
Florida Man Tapworm Update: https://tinyurl.com/2rdjv7yj
Florida Man extorted over $80k from wife: https://tinyurl.com/3cynwbm4
=== Show Information
Website: https://www.itbusinesspodcast.com/
Host: Marvin Bee
Uncle Marv’s Amazon Store: https://amzn.to/3EiyKoZ
Become a monthly supporter: https://www.patreon.com/join/itbusinesspodcast?
One-Time Donation: https://www.buymeacoffee.com/unclemarv
=== Music:
Song: Upbeat & Fun Sports Rock Logo
Author: AlexanderRufire
License Code: 7X9F52DNML - Date: January 1st, 2024
