Friday Finance Fact: Cost of Cash Flow Issues

Struggling with cash flow? You’re not alone—82% of small businesses fail because of it. With QuickBooks, you can stay ahead of the curve. Track your funds in real time, set up alerts for overdue invoices or low balances, and forecast slow periods to keep your business thriving.

Set up alerts in QuickBooks to flag overdue invoices or low balances. Use cash flow forecasting tools to anticipate slow periods and prepare accordingly. By addressing cash flow problems early, you can keep your business running smoothly.

Steps to Set Up Alerts in QuickBooks:

1. Log in to QuickBooks:
   Sign in to your QuickBooks Online or Desktop account.
2. Navigate to Settings:
   In the top-right corner, click on the Gear icon (⚙️), then select Account and Settings (Online) or Preferences (Desktop).
3. Go to Notifications:
   • For QuickBooks Online: Select the Alerts or Notifications tab.
   • For QuickBooks Desktop: Go to the Reminders section in Preferences.
4. Enable Alerts for Overdue Invoices:
   • Online: Toggle on the option to receive reminders for overdue invoices. Customize how you want to receive these alerts (email, in-app, etc.).
   • Desktop: Under Reminders, check the box for Overdue Invoices and set how frequently you want to be notified.
5. Set Up Low Balance Alerts:
   • Navigate to the Banking or Accounts section.
   • Enable alerts for when a linked account’s balance drops below a specified threshold.
   • Customize the threshold amount and notification type (email, in-app, or mobile).
6. Save Your Settings:
   Click Save or Done to confirm your changes.
7. Test Your Alerts (Optional):
   Create a test invoice or simulate a low balance scenario to ensure the alerts are functioning as intended.

If you’re unsure how to manage cash flow effectively, a Chandler CPA, like AZ Easy CPA, can create a strategy tailored to your business.

Need help with your business finances? Contact Us! We offer monthly accounting and bookkeeping services, clean-up projects for past years, QuickBooks training, and phone consultations to help you stay on track.