There is no doubt that 2020 has thrown some real curve balls our way. As a result, we have noticed that many businesses have either found themselves focusing on surviving or in some cases, thriving. Irrespective of which mode you are in, it is important to understand where your business’ cash flow sits.
At businessDEPOT, we use a great tool to help business owners and managers understand how much cash is in their bank accounts and available to use should they need or want it. We like to call it ‘the BOP’, also known as Balance of Payments! This handy little tool can help you to analyse your business’s balance sheet and identify how much cash is available in the short-term.
To learn more about ‘the BOP’ watch our short video below. If you have any questions or would like to know more about how to use ‘the BOP’, feel free to reach out to John Knight or the accounting team at businessDEPOT.