81) Since even the best sales forecast will be wrong, the small business owner should prepare three forecasts-optimistic, pessimistic, and most likely.
82) A sale to a customer is not really a sale until the business owner actually collects the money from it.
83) To project cash receipts, an entrepreneur must analyze accounts receivable to determine the company’s collection pattern.
84) The key factor in forecasting cash disbursements for a cash budget is to record them in the month when they are incurred, not when they are paid.
85) Some financial analysts recommend that new owners estimate cash disbursements as best they can and then add another 25 to 50 percent of the total!
86) Difficulty in collecting accounts receivable is the primary cause of cash flow problems, according to small business owners.
87) The longer an accounts receivable is outstanding, the lower its probability of collection.
88) For cash planning purposes, it is better to underestimate cash disbursements than to overestimate them.
89) Seasonal sales patterns cause cash balances to fluctuate dramatically, creating the need for cash forecasts.
90) To manage cash efficiently, business owners should strive to accelerate their accounts payable and stretch out their accounts receivable.
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