S3E2: 3 Steps to Take When Profit and Loss Don't Align with Bank Balance!

Cash Flow with Pam Prior

Welcome to another insightful episode of Cash Flow with Pam Prior! Today, Pam delves into a dilemma many entrepreneurs and business owners face: the contrast between a profitable profit and loss statement (P&L) and a surprisingly thin bank account.

In this eye-opening episode, Pam uncovers three critical factors that often go unnoticed when assessing cash flow. These factors hold the key to understanding their profound impact on your bottom line.

Key Takeaways:

1. Accounts Receivable Insights: Pam kicks things off by shedding light on accounts receivable. She highlights the importance of evaluating this aspect of your business, urging you to assess whether you can expedite the collection of outstanding payments. Discover how payment plans and discrepancies between recorded revenue and actual collections can significantly affect your cash flow.

2. Mastering Accounts Payable: Moving on to accounts payable, Pam emphasizes its significance. She explains how expenses reflected in your P&L may not always translate to immediate cash outflows. Gain valuable insights into managing your accounts payable strategically, especially if you're facing a cash crunch or aiming for growth.

3. Practical Advice for Financial Health: Pam doesn't just identify these critical factors; she equips you with actionable insights and practical advice. By the end of this episode, you'll have a deeper understanding of your business's financial health and be better prepared to navigate the intricate balance between profit and cash flow.

Listen to the full episode to unlock the secrets of maintaining a thriving business while ensuring a healthy cash flow. Pam's expertise will empower you to make informed financial decisions and achieve lasting success.

Don't miss out – hit that play button now and take the first step towards financial enlightenment!

For more valuable financial wisdom, be sure to subscribe to Cashflow with Pam Prior on your favorite podcast platform!

✨ About Pam:

Join financial expert Pam Prior on a journey towards confident control of your money mindset and business cash flow. As a seasoned finance wrangler, Pam knows exactly what you need to focus on and eliminates the unnecessary noise. She believes that you don't need to be a bookkeeper; you simply need to grasp a specific set of numbers and comprehend how they shape your business.

Visit www.PamPrior.com to learn more about Pam and her mission.