Financial forecasting helps you to estimate your future operational costs and profits based on past, current, and projected financial conditions. It enables you to set realistic targets, to monitor and manage your cashflow on a monthly basis, and to recognise trends that may influence the way you operate.
Most importantly, you’ll sleep better knowing that you have enough set aside for tax, GST, ACC, wages, PAYE and all your other outgoings.
But sound financial forecasting is about more than just meeting your obligations; it can help you to secure a lease agreement, an overdraft or finance to support the development of your business.
The ideal time to prepare a financial forecast is before a new financial year however it can be done at any time and we recommend that you commence as soon as possible to take control of your cashflow.
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