April 2019

Learn how to maintain a robust cash flow

Small business owners (SBOs) agree that maintaining a robust cash flow is critical to business health. This month, we’re featuring highlights from the recent “Managing Your Cash Flow” podcast, featuring Will Barr, Small Business Deposits Executive for Bank of America.

Making cash flow easier, effective, efficient for SBOs

Managing cash flow is the number one item most SBOs struggle with. To combat this, Bank of America has invested in products and solutions — like Remote Deposit Online — that allow owners to make deposits on their own schedule, without making a trip to the financial center.

Keep your eye on generating revenue

Managing everything from marketing and PR to bookkeeping and sales can prevent you from focusing on cash flow. Whatever you do, don’t take your eye off generating revenue. If you don’t have more coming in than going out, you’re not going to last long.

Don’t forget to do the math

Sometimes it makes sense to pay an invoice earlier because of the discount in the short period of time that you’re paying versus what you’re paying on an annual percentage rate for that credit.

Our infographic shows you how to bridge cash flow lulls and create more flexibility.

Above account information shown for illustrative purposes only.

New! Business Advantage 360

Get a 360° view of your business finances — right from Online or Mobile Banking with no sign-up or cost.

  • Integrate account activity to track debits and credits.
  • Get automatic cash flow projections.
  • View the impact of manually added transactions.
  • Set cash flow thresholds, receive alerts and make adjustments.

Sign in to Mobile or Online Banking to access Business Advantage 360 from your list of accounts.

Above account information shown for illustrative purposes only.

Source: Managing Your Cash Flow: "The Heartbeat of Main Street," Episode 6

https://smallbusinessonlinecommunity.bankofamerica.com/community/running-your-business/general-business/blog/2018/08/24/managing-your-cash-flow-the-heartbeat-of-main-street-episode-6

You must be enrolled in Online Banking or Mobile Banking to use the Business Advantage 360 tool and have an eligible Bank of America® small business deposit account. Mobile Banking requires that you download the Mobile Banking app and is only available for select mobile devices. Message and data rates may apply.

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