When you're managing a small business, it's important to have a good handle on every single little bit of cash that flows into and out of your business. With an organisation that doesn't have millions in annual revenue, even the smallest sale can make a big difference to your financial future, and properly accounting for these sales is key.

Staying fully aware of your finances is difficult, though. Part of the problem is that small businesses must constantly deal with many moving pieces – there are always accounts payable and receivable that are up in the air, being paid at various times, and it's tough to get a clear picture of how much money you'll have when the dust settles.

This is an area where small business owners everywhere should be concerned – and looking for tools to help them do better.

Good, clean data is essential

Running a small business is difficult, as you're often torn between pursuing your short-term and long-term goals. Are you focused on taking care of business today, or angling for growth tomorrow?

According to research from CPA Australia, there's an extensive checklist of things a small business must accomplish to ensure it has the stable cash flow levels needed for growth. The most important one is a reliable process for reviewing debts and debtors. Do you have a solid handle on who owes you money, how much, and when they plan on paying?

Another key priority should be to ensure the accuracy of your company's financial data. This is an area where it pays to invest in a high-quality accounting system.

Tracking every expense you can

Handling small business finance is a tireless job, as it requires keeping track of every single tiny little expense that your business incurs. Even a small omission can throw off your financial planning and put your organisational development plans in jeopardy.

This is why companies often reach out and ask for help with their accounting strategies. Because the typical small company has so many moving pieces that are difficult to track, it's often impossible to handle everything without counting on the professionals.

Finding the financial tool for you

If your small business needs some professional guidance when it comes to finance, now might be the time to begin working with Jiwa Financials. What you'll get from Jiwa Financials is software that is fully scalable, which is crucial when drawing up the framework for a growing business.

As you continue to build your organisation, you want a financial tool that will help that movement, not hinder it. For the last two decades, Jiwa Financials has proven to be precisely that tool.