Why You Should Track Cash Flow for Individual Projects
Most businesses have more than one income stream, and not all of them are equally profitable. Here is why you should be tracking your cash flow for each income stream in your business. Not Created Equal Most businesses don't have all their money coming in from one source, and that's a good thing. Having diversified interests and income streams at any given time makes sure things keep rolling and cash keeps coming in, even when one particular project or division comes to a grinding halt. As you work on multiple projects, you'll notice that they are not equally profitable. If you're only looking at one general cash flow statement, you may be missing some important information. Instead, consider tracking the cash flow for individual projects, clients, or divisions within your company. Breaking It Down You may have an idea of how individual projects are doing, but it's hard to see the full picture of income, expenses, and time spent when you're right in...