Setting Up Your Financial System:
It's Easier Than You Think
Eighty percent of small businesses fail in the first 18 months because they run out of cash. It is critical for a startup or early stage business to have proper financial systems in place to monitor and analyze their cash flow and other aspects of their finances. Many entrepreneurs don’t devote enough time and preparation to setting up their bookkeeping and monitoring their finances, because they think it is too hard or too boring. The good news is that in today’s software application environment, setting up your bookkeeping software is not hard! You can utilize today’s software to interface with your other financial databases, like your bank, to take a lot of the grunt work out of handling your bookkeeping. Once you have systems in place you will learn how to monitor and manage your cash flow. This is a skill that is critical to the success of your business.
Presenter - Toni DeMarco
Toni DeMarco is an MBA, CPA and CGMA. For the past 20 years, she has been leading the Finance/Accounting Department of Technology companies in the startup, growth or turnaround stage in the New York Metro area. She has sold some of these businesses to larger and publicly-traded companies.
A recent transplant to the Tampa Bay area, she is a consultant to small businesses that are setting up their financial software and want to develop procedures and processes for managing their finances and accounting.