Which day of the week is best for updating your company’s cash flow forecast?
Well…it does not matter as long as you do review your forecasts at least once a week.
If your company is delivering project-based services such as software development, construction, marketing services or consulting of any kind, chances are you review the status of your key projects once a week.
The moment when you do that is also the best time for reviewing your cash flow forecast. Because expenses tend to be more predictable but incoming payments would only arrive as planned if you have completed the work on time, client has accepted it, invoices have been approved etc.
If you use a spreadsheet, any reviews and updates are time consuming, therefore they tend to be delayed or forgotten about. But with Tailwind you can do the required adjustments in seconds – just use “drag and drop” to reschedule any transaction to a sooner or later date and immediately see how this changes your outlook.