Description: Imprest Business Services provide professional bookkeeping and administration services for small to medium business. Located in Joondalup and Kalamunda.
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This financial year the strangest thing happened – my profit and my cashflow increase were virtually the same!
A lot of business owners confuse profit with cashflow and actually expect to see a corresponding increase in cashflow every time they make a profit. In reality, that rarely happens. So how did I manage to achieve this near impossible feat, and – is it a good thing?
We all know that to improve net profit we either increase our prices or decrease our costs, right? It’s almost a cliché, and one that just might prevent you from finding the real profit drains in your business.