When it comes to cash flow management, it is pretty important to keep track of all your money matters. It is impossible to have a good understanding of your company's cash flow situation unless detailed financial records are kept for you to refer to. A profit and loss statement, for example, isn’t sufficient.

You must constantly be aware of how many invoices are being processed, how much money has already been allocated to important projects, and which bills must be paid soon. Understanding this information is crucial for successfully implementing your cash flow management strategy.

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