How can a business manage money?

[King Belieal]

We always talk about financial management for individuals. But finances also affect business organizations too, if not even more. How can a business manage it's money well? Is it the same principles of financial management applicable to individuals that is applicable to businesses?

 

[Fidelia]

Most businesses route every transaction electronically to be able to get proper records and track financial directions.

 

[Augusta]

Establish both short-term and long-term financial objectives to provide direction and motivation for managing money.

 

[Suba]

How to manage business finances, the first is to separate personal money from business money, make plans and budgets, record all financial transactions, carry out control, make financial statements and conduct evaluations. In principle, personal and business financial management are the same, the difference is in the application, goals, etc.

 

[Min George]

A business would better manage money when they have a good record of all financial transactions in the organization.

 

[Augusta]

it is to track all spending against the budget to identify areas of overspending or potential savings. Adjust the budget as needed to reflect actual spending and business needs.

 

[eLdavis]

A business can manage money by simply focusing on their needs alone instead of their wants, look for ways to economize things.