This post is written by Shayne Dueck, Partner and National Leader, Client Accounting and Bookkeeping Services at MNP.
MNP is one of Canada’s largest national accounting, tax and business consulting firms. Shayne works with small to medium-sized owner-managed businesses, delivering customized advice and solutions to help them achieve their goals. Based in Saskatoon, Shayne has a passion for bringing efficiencies to business processes to assist owners with getting the most out of their time and resources.
Many business owners navigating recovery from COVID-19 and the ensuing dynamic economy are looking for ways to maximize cash flow. Our team recently launched ease, which can use Xero’s cloud-accounting platform to provide always-on accounting and bookkeeping services so businesses can transform real-time financial information into real-world business insights.
For Canadian businesses looking to drive their business forward by optimizing cash flow, here are three key cash flow benefits you’ll gain from ease and working alongside a trusted advisor.
Cash flow reporting
As you manage your business through this unique period, you need to know how much cash is available to pay your bills and maintain operations. With ease, you can forget about the late nights pouring over spreadsheets to see where your business is heading. The Xero platform has straightforward profit and loss reports you can easily run, showing you exactly where your business stands and how you can plan accordingly into the future. Furthermore, features like Xero’s short-term cash flow and business snapshot tools provide the visibility and insights you need to manage cash flow during a crisis. By having a real-time view on cash flow, you’ll have a better understanding of how money is flowing in and out of your business and can take any early action, if needed.
Automated invoice billing
To help keep cash coming into your business, you’ll need to get paid for your work. Creating invoices, sending them to individual accounts, and then following up multiple times can be a burden. MNP ease services features the benefits of Xero’s invoicing software, automating the invoicing process and helping you get paid faster. You can create online invoices quickly, take the work out of chasing payments by setting up automated invoice reminders, while ‘pay now’ options on your invoices let customers pay you instantly.
Creating positive cash flow is about managing your costs, too. With ease, there are no surprise fees. The goal of ease is to provide cost certainty so you can focus on growing your business instead of spending time monitoring the expenses for your accounting and bookkeeping.
See how MNP ease and Xero can support your business
Learn more about how ease and Xero can benefit your business from MNP client Brad Dodds, owner of B.G. Dodds Building & Contracting.
Find out more about ease here.