Cash Management Services

In addition to accounting and bookkeeping services, The Benno Group can advise you on financial management. We can assist with cash flow requirements, business borrowing and budget forecasts.

The Benno Group can help you work out the amount of cash needed to operate the business during a certain period for example, a three-month, six-month or one-year projection. We consider how much cash you will need to carry your accounts receivable, to increase inventory, to cover current invoices, to acquire needed equipment and to retire outstanding debts.

Additionally, The Benno Group can determine how much cash will come from collection of accounts receivable and how much will have to be borrowed or provided from other sources. The Benno Group can assist you in compiling the information necessary to secure a loan: the assets the business will offer for collateral, the present debt obligations, a summary of how the money will be used and repayment schedules. Such data show the lender the financial condition of the business and your ability to repay the loan. Remember, lenders have two very definite requirements: (1) that the business have adequate collateral to secure the loan and (2) that the business will be able to repay the loan.

The Benno Group can advise on whether you need a short or long-term loan. In addition, we can advise you on immediate plans regarding management, financing, long-range plans to bring others into the business and estate planning, all of which affect the type of business you choose.