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A budget calculator spreadsheet helps to budget and makes it easier to follow or craft. Although it’s not mandatory, you can build your budget, with improvements after some time, with the help of such a spreadsheet. The mandatory part is actually getting the basics right, and then it’s up to you whether or not you prefer using a spreadsheet. That being said, creating a budget can be a daunting task in itself, as many considerations are taken into account. For example, as a parent, priorities lie differently than those of a bachelor or a single person. It varies from situation to situation, but our guidelines can be applied universally.

Calculate Your Income Flow with a Budget Calculator

To build your budget, the very first thing you need to do is calculate how much money you expect to come in. By identifying this, a clearer path to bliss can be constructed with proper planning. After all, a budget is a financial plan that helps organize and structure payments and expenditures accordingly. It’s imperative to keep the numbers real. Any exaggerated or over-estimated accounts will create nightmares with the plan. It’s easy to overvalue the actual amount, so care needs to be taken in deducting social security, taxes, 401k’s, etc.

Ensuring that an adequate amount remains in the budget calculator comfortably allows you to build your budget to make it to the end of the month. The net income is the amount that you are left with after deductions, which is exactly the amount you want to use in the budget. Correctly estimate all of the money that is inbound; it could be freelance or part-time work. Regardless, all of it must be recorded and organized for expenditures.

Record Spending

By tracking and recording through organized spending categorization, many benefits are achieved, such as adjusting. Recording all that you’re spending and monitoring it will keep the accounts straight, repelling any situation that would cause deficiencies in the budget calculator. Your expenditures should be logical, planned, and recorded to give you a more wholesome picture of what the budget is doing to build your budget and make it work for you. Start with fixed expenses. Anything that you have to pay regularly is termed a fixed expense.

These expenditures don’t change but may go up. When budgeting, everything like rent, utilities, amenities, etc., is considered first. There is little chance that one can cut back on these, but understanding the amount you have in hand makes life easier when spending under a plan. The budget calculator is created to eradicate any chances of error when building your budget. In addition, enlist your expenses for groceries, gas, recreation, and entertainment. In this area, it’s possible to draw down or cut back expenses to be safer and not go into debt at the end of the month.

Goals and Targets

Setting up goals and targets is one of the best things you can do by planning and working towards them. List all that you want to achieve this month, on a short-term and long-term basis, to build your budget for the budget calculator. Short-term is any duration of time below a year, whereas long-term is over a year. Short-term aims include saving money for an Xbox or an iPhone. Long-term targets can be the kids’ education or marriage plans.

Plan

Without this vital aspect of budgeting, nothing will work. Deciding on payments is a great way to secure stability and consistency in life. Knowing your fixed expenses will guide all costs that must be made in the month. Plan your spending habits only to cover the most needed expenses.

A budget calculator and the need to build your budget can easily be facilitated with MS Excel. It is a beautiful spreadsheet and tool users can use to create specified needs.

Conclusion

In conclusion, a budget calculator spreadsheet is valuable for crafting and following a budget. While not mandatory, it streamlines financial planning and decision-making. Individuals can achieve excellent financial stability and success by accurately tracking income, recording expenses, setting goals, and planning expenditures.

Budgeting principles remain universally applicable when managing household finances or business expenses, providing a roadmap to financial well-being. With tools like MS Excel, building and maintaining a budget becomes more accessible and effective, empowering individuals to take control of their financial futures.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

When business finances are relatively simple, DIY tax prep software can be a powerful tool, empowering you to complete your tax returns quickly and conveniently. Initially, the magnitude and frequency of financial transactions stay within the range of the software, which is a reassuring sign for businesses who prefer using DIY financial tools to cater to their daily and evolving financial needs.

As humans, we always strive to simplify our lives, and DIY accounting tools and software can be our allies in achieving brilliance in our business’s accounting and financial aspects. They are particularly beneficial for small businesses with straightforward financial transactions, known for filing clean tax returns. However, as a small business grows, its financial needs also expand, necessitating a reevaluation of the effectiveness of DIY tax prep software to ensure the intended results are achieved.

The Right DIY Tax Prep Software must be Integrated

While the Tax Cuts and Jobs Act, signed into law on December 27, is expected to reduce and simplify income taxes paid by US citizens in the next year, it’s important to note that not all DIY tax software provides practical evaluation of tax returns. This lack of comprehensive assessment has led some SMEs to question the reliability of DIY tax software.

Despite claims from industry veterans about the authenticity and legitimacy of DIY tax prep software, it’s worth considering that they may be promoting different DIY tax software due to their own vested interests. Furthermore, this underscores the need for small business owners to be cautious and aware of the potential risks of relying solely on DIY tax software.

Most tax preparers are small businesses that can’t afford to hire in-house tax professionals. Since tax-related activities are seasonal, the additional cost companies have to bear after tax season can become a significant burden. This financial strain is a crucial reason small businesses opt for DIY tax prep software instead of hiring tax professionals. It’s no wonder that most industry veterans endorse DIY tax software as a cost-effective alternative to in-house tax preparation expertise.

Does This Perspective Ever Change?

Yes, it does change from time to time, depending on the nature of the change. When a business grows, so do its bookkeeping and financial needs. The frequency of financial transactions helps trigger the change, and businesses that don’t deal with this change should prepare for the worst. For example, let’s take a small business with 400-500 monthly business transactions. When the business grows, so do its transactions and the tax impact on those transactions. When this happens, the business must let go of its DIY tax prep software and consider hiring a tax professional for seasonal tax preparations.

Why Have People Started To Take More Interest In Tax Preparation?

The point is that tax preparation has become a big deal, which is why people specialize in taxes. Preparing tax returns as a career can be lucrative as it offers people safe and healthy financial returns. This billion-dollar industry is expected to speed up exponentially as more and more businesses are stepping into the industry. According to studies, tax preparers in the US alone generated about $24 billion in 2017. However, this indicates that the industry is expected to speed up growth, and tax professionals are likely to make more money than ever in the 2018 calendar year.

There are a wide variety of tax prep software options on the market. You must select the right platform that fits your business’s financial needs and requirements. This is especially true if your business is small and desires to use DIY tax prep software to file a clean tax return. However, as soon as your business grows, you must consider hiring a tax professional or third-party vendor to file accurate tax returns.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

In today’s interconnected world, safeguarding our online privacy and security is paramount. Yet, with the proliferation of open Wi-Fi networks and the potential for data breaches, protecting sensitive information has become increasingly challenging. It is where Virtual Private Networks, or VPNs, play a crucial role. By establishing encrypted and secure connections, VPNs protect against prying eyes and malicious actors, ensuring your data remains private and secure. Furthermore, this guide will delve into the fundamentals of VPN technology, exploring how it works, why it’s essential for online protection, and who can benefit from it. Join us as we uncover VPNs’ vital role in safeguarding your online presence and empowering you with greater control over your digital security.

What is a VPN?

In simplest terms, a Virtual Private Network (VPN) helps create an encrypted and secure connection. Think of it like a tunnel connecting your computer with a server functioned by the VPN service. Even though you are linked to a VPN, your network traffic will pass through this secure tunnel. No one (even your ISP) can see the traffic until it leaves the VPN server and arrives at the public internet. However, if you connect only to websites secured with HTTPS, the data will remain encoded even after it has left the VPN.

VPNs Protect You Online

Are you comfortable allowing your data to travel through Wi-Fi? Have you stopped worrying about data safety or that someone else could be looking at it? You’re not alone. You are, beyond any doubt, in the majority. This nonchalant attitude signifies a considerable security and privacy problem.

While convenient and commonplace, open and public Wi-Fi networks are also hotspots for attackers seeking to exploit your personal information, it’s crucial to start considering the security of your data, especially when your ISP is allowed to retain your browsing history.

This is where the Virtual Private Network comes in. With their simple software, these online services are designed to safeguard your internet connection. They empower you with better control over your online presence. Furthermore, even if you’re new to VPN services, you can easily recognize their value and start using them as powerful tools for your online security. 

Who Requires a VPN?

The protection delivered by a VPN provides its users with many advantages. Primarily, it stops anyone found on the same (or anywhere else) network from an access point for interrupting your web traffic. This is particularly handy for tourists and those who use public Wi-Fi systems. However, VPNs also cover your computer’s authentic IP address, making it more challenging for advertisers (or hackers) to track you online.

Numerous VPN services also offer their private DNS resolution system. DNS is like a phone book, which converts a text-based URL to a numeric IP address for computers to understand. Savvy intruders and impostors can observe DNS requests. Moreover, they can track your activities and movements online. Moreover, materialistic attackers can use DNS poisoning that will direct you to false and fake phishing pages specifically intended to steal your data. If you are using a VPN’s DNS system, it will be an additional layer of protection.

While VPNs are a sensible security measure for everyone, they are vital for specific individuals. Activists and journalists, for instance, rely on VPN services to evade government censorship. Furthermore, this enables them to communicate safely and freely, underscoring the critical importance of online privacy and security.

Conclusion

In today’s digital landscape, where threats to online privacy and security abound, Virtual Private Networks (VPNs) are indispensable tools for safeguarding sensitive information. VPNs create a protective barrier against cyber threats by encrypting and securing connections, ensuring that data remains private and secure, even on open Wi-Fi networks. As we’ve explored the fundamentals of VPN technology and its crucial role in online protection, it’s evident that VPNs empower users with greater control over their digital security.

Whether you’re a frequent traveler, a privacy-conscious individual, or someone navigating the complexities of internet censorship, VPNs offer a reliable solution for fortifying your online presence. Furthermore, as we navigate the intricacies of the digital age, let VPNs serve as our trusted allies in preserving the integrity of our online interactions and upholding the fundamental right to privacy.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Information Security and the Importance of its Support System

So, what is information security? It is usually known for protecting information and a business from accidental activities that can damage employees and managers. Furthermore, information security ensures that a company is prevented from any security risk.

Information leakage might lead to various difficulties for a corporation, including significant economic losses or even complete bankruptcy. More often, financial documents, technological and design developments, logins, and passwords for entering the network of other organizations are “leaking out” from companies. However, severe damage can happen, such as a leak of employees’ data. You need to keep private information protected.

PCI Information Security and Why It Is Important

After major hackings of card payment systems in recent years, organizations facing card hacking issues began actively discussing implementation and compliance with information security standards.

The survey included IT executives from education, financial services, government, health, and retail responsible for PCI compliance. Furthermore, the researchers aimed to assess PCI DSS standards accurately, measure implementation costs, identify compliance challenges, and evaluate technology adoption.

• 70% of respondents believe compliance with the PCI DSS standard makes their organizations more secure.
• 87% of respondents believe that the requirements of the PCI DSS standard are necessary for the protection of cardholders’ data.
• Of all industries, the PCI DSS requirements of retailers and financial institutions proved to be the best. Retail took the most severe attitude towards the implementation of this standard.
• 67% of respondents expect their compliance expenses with the PCI DSS standard to increase in the next year. Increased costs mean company executives and board members consider PCI DSS a significant initiative.
• In addition, 60% of the respondents suggested that efforts to comply with the PCI DSS standard can stimulate other networks and network security projects.

Payment Card Industry and Data Security Standard

The standard for the protection of information in the field of payment cards

The PCI DSS standard is designed to ensure the security of processing, storing, and transferring data in information systems of companies operating with international payment systems such as Visa, MasterCard, and others. The PCI standard establishes the PCI Security Standards Council community, which contains the leading payment cards in the world, such as MasterCard Worldwide, American Express, Visa International, and JCB. The PCI DSS standard applies to every company that processes, stores, or transfers data from other economic sectors (banks, processing centers, service providers, and e-commerce systems). Moreover, you can also use bookkeeping to keep the client’s financial records, such as bank and economic sectors, to ensure that all the client’s data and information are secured.

PCI standards are operated worldwide and concern all organizations that process credit cards and store or transmit information about their holders. However, this standard gives the payment card industry more control over confidential data and excludes the possibility of their leakage. PCI also guarantees the protection of consumers from fraud or identity theft when using credit cards.

Who is covered by PCI DSS?

First, the PCI standard defines the requirements for organizations in the information infrastructure that store, process, or transmit payment card data and organizations that can affect the security of this data. Furthermore, the standard’s purpose is obvious—to ensure the safety of payment cards.

Conclusion

In conclusion, information security is crucial for safeguarding businesses against various risks, including financial losses and data breaches. Furthermore, the PCI DSS standard protects sensitive payment card information and ensures consumer trust and economic security. Moreover, increasing reliance on digital transactions makes adherence to these standards imperative for organizations across various industries.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Millennial entrepreneurs are sinking into student loan debt with soaring college tuition. Starting a new company is exceptionally challenging, time-consuming, and costly, especially for recent college graduates. The Federal Reserve estimates Americans owe approximately $1.3 trillion in student loans. The millennial generation signifies a sizable share of the nation’s 43 million student loan borrowers, and their debt load upsurges yearly. Ambitious entrepreneurs who finish post-graduate work can face an even higher average monthly payment amount. But, the truth is most startup businesses fail, and the hype and mainstream appeal of entrepreneurship do not reflect the reality of the millennial employment marketplace.

Student loan debt proves problematic for young entrepreneurs trying to save for a startup or small business and produces cash flow burdens once the company is up and running. Too often, large student loans dishearten talented millennials from pursuing their entrepreneurial dreams altogether. However, it does not have to be that way. By learning to manage student loan responsibilities, millennial entrepreneurs can overcome these hindrances and realize their proprietorship dreams.

Handling Student Loan Debt When Opening or Buying a Small Business

Launching or purchasing a business is not for the faint of heart. It involves personal sacrifice and the aptitude to make hard decisions in your business and personal lives. If you are a millennial entrepreneur, here is the bad news: Your student loans are not going away. But the good news is that you can organize repayment with good bookkeeping to minimize your student loan debt’s impact on your business proprietorship plans.

Loan Consolidation

Student loans can be federal or private, although the choices are more restricted for personal loans. You can easily amalgamate federal loans to simplify repayment and lower monthly payment amounts. Under some circumstances, federal loan consolidations can be specified into a graduated payment plan. Instead of uniform monthly payments over the life of the loan, expenses are lower during the early years when you are just starting as a business proprietor and cash flow is tight. Payments increase after two or four years, but graduated repayment plans provide the breathing room you need to get your corporation off the ground.

Private loans can also be combined, especially if you have a good credit rating. Talk to your moneylender to determine whether you qualify for consolidation and, if so, which plan will help you achieve your objectives.

IBR and PAYE Programs

During the initial period of business proprietorship, most entrepreneurs have limited personal revenue. Instead of paying themselves, proprietors usually pour money back into their businesses. It is a brilliant business stratagem, making it even more difficult for entrepreneurs to keep up with student loan payments. Federal student loan defaulters with little or no income can apply to participate in Income-Based Repayment (IBR) and Pay-as-you-earn (PAYE) programs. These government-sponsored programs can be a Godsend to cash-strapped entrepreneurs because they catalog monthly payments to personal income. Monthly payments are either 15% (IBR) or 10% (PAYE) of the borrower’s personal, unrestricted income.

Bootstrapping

Bootstrapping is a tried-and-true strategy for entrepreneurs and business owners in the early stages of their professions. New proprietors often live thriftily to advance the odds of business success, even if it means radically altering their lifestyles for some time. A bootstrap mentality can also help handle student loan debt. You can pay down your student loans without seriously impacting your business plans by leaving yourself with a prudent lifestyle for a few years. The most important thing to remember is that your student loan debt will not last forever. Once you repay your loans, you will have more money to invest in your company.

Conclusion

While millennials show enthusiasm and assurance for starting a company, they combat unemployment, underemployment, and the unending student loan crisis. While we believe that entrepreneurs are critical for a healthy economy, most of us must be patient if we want to become successful business owners.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Regarding your income taxes, you must determine whether you should get a professional to do your tax preparation, try it yourself, or use automatic tax preparation software. It can be a good idea to hand over things to a professional. However, it has its cons. Here are some of the pros and cons of getting a professional to do your tax preparation:

Pros of Professional Tax Preparation

The fees may be deductible in some cases.

It is essential to be aware that your professional tax preparation fees can be deducted from your income tax return if you satisfy specific requirements. The price for tax preparation is a miscellaneous deduction, and you can report it on the IRS Tax Form 1040 Schedule A.

For example, you can deduct the mileage you drove to meet with your tax preparer and mail documents to them (including the postage for shipping your tax return to the state tax agency and the IRS). You may also be able to deduct the cost of a book you purchased regarding the new tax regulations to help you file the return. You can also deduct any fee you charge for e-filing your tax return online.

It is essential to be aware that tax preparation fees are considered miscellaneous deductions. For this reason, to claim the tax break, you must itemize your deductions.

Moreover, before your miscellaneous deductions are deducted from your income tax return, they must exceed 2% of your AGI (Adjusted Gross Income).

It Will Save You Money and Time

Accuracy and convenience are two of the most important benefits of hiring a professional to prepare your taxes. You can save a significant amount of time by not reading and comprehending the form instructions, news releases, and publications provided by the IRS. Even time has monetary value; the time you spend working on your tax return alone may cost you more than employing a tax professional’s services.

It is possible to make many errors when filing your tax forms; the services of a tax professional can help you reduce those mistakes. They can also correctly identify all tax deductions and credits you are eligible for to ensure you do not overpay taxes.

If you are thinking of using tax preparation software, it is crucial to be aware that it will not take your specific circumstances into account. Tax preparation software may not be a good option for taxpayers with complicated finances.

Another benefit of professional tax preparation is that you are guaranteed representation against a possible tax audit, unlike with software.

Cons of Professional Tax Preparation

You may encounter scams – Be vigilant when choosing a tax professional.

When hiring a tax professional, keep a few things in mind. To begin with, you should not delay scheduling an appointment until the last moment. Most of the best accountants near you will likely have waiting lists. Your options will be limited if you try to contact an accountant when your return is due in a few days.

Secondly, remember to check the tax professional’s references as you would handle hiring an employee. Ask for recommendations from friends and family. Another good indicator is testimonials and reviews given by happy clients. Be vigilant of anyone with a license the IRS no longer considers valid.

It Might Cost Too Much

Cost is one of the major drawbacks of hiring someone to prepare and file your return. Professional tax preparation will cost more, especially if your tax situation is comparatively complicated. It will also cost more if you require both your state and federal tax returns to be prepared.

Conclusion

Consider your options carefully when it comes to tax preparation. Hiring a professional can offer benefits like deductible fees and saved time, but watch out for scams and high costs. Ultimately, choose the method that best suits your financial situation and the complexity of taxes.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

By: Jennifer Brazer

Jennifer is the author of From Cubicle to Cloud and Founder/CEO of Complete Controller, a pioneering financial services firm that helps entrepreneurs break free of traditional constraints and scale their businesses to new heights.

Fact Checked By: Brittany McMillen

Healthy Business Cash Flow: 5 Key Strategies for Success

Cash-flow represents the movement of money in and out of your business, and mastering it through strategic management keeps your company financially healthy and ready for growth. Without proper cash-flow management, even profitable businesses can face financial strain from poor timing of income and expenses, leading to missed opportunities or operational disruptions.

Recent data shows that 70% of small businesses hold less than four months’ cash reserves, leaving them vulnerable to economic shocks and unexpected expenses. As the founder of Complete Controller, I’ve witnessed firsthand how businesses transform their financial stability when they implement proven cash-flow strategies. Over my 20 years working with thousands of businesses across every industry, I’ve discovered that companies who master these five core strategies consistently outperform their competitors and build lasting financial resilience. This article breaks down the exact methods that turn cash-flow challenges into competitive advantages, giving you the tools to optimize receivables, control expenses, leverage technology, and build protective buffers that sustain your business through any market condition.

What is cash-flow management, and how do you do it right?

• Cash-flow management involves tracking money movement, forecasting future needs, and optimizing the timing of income and expenses to maintain healthy liquidity
• Cash Flow Analysis monitors your real-time financial position through detailed statements showing operating, investing, and financing activities
• Strategic Forecasting predicts upcoming cash needs by modeling different scenarios to prevent shortages before they occur
• Operational Efficiency streamlines business expenses and inventory management to reduce unnecessary cash outflows
• Technology Integration automates tracking and provides instant insights into your financial position for better decision-making

Master Cash Flow Analysis: The Foundation of Financial Health

Regular cash flow analysis forms the cornerstone of financial stability by revealing patterns, risks, and opportunities that impact your business’s liquidity. Companies that monitor their cash flow statement weekly catch problems 60% faster than those reviewing monthly, according to industry research. This proactive approach transforms reactive firefighting into strategic planning.

Your cash flow analysis should track three core activities: operating (daily business transactions), investing (asset purchases and sales), and financing (loans and equity changes). Modern accounting software like QuickBooks and Xero automates this tracking, providing real-time dashboards that highlight trends instantly. By implementing cash flow analysis techniques for small business, you gain visibility into payment cycles, seasonal fluctuations, and growth opportunities.

Implementation Steps for Effective Analysis

• Set up weekly cash flow projections aligned with your accounting software for automatic updates
• Create scenario models showing best-case, worst-case, and most likely outcomes
• Track key metrics including Days Sales Outstanding (DSO) and Days Payable Outstanding (DPO)
• Establish trigger points that alert you when cash drops below predetermined thresholds
• Review variance reports comparing projected versus actual cash flow monthly

Case study: Xero’s predictive analytics success

Xero implemented AI-powered predictive invoicing that reduced client payment delays by 15% across their SMB user base. Their system automatically flags late payments and sends customized follow-ups based on client payment history. This proactive approach helped businesses collect receivables 14 days faster on average, dramatically improving cash positions without damaging client relationships.

Optimize Cash Inflows: Get Paid Faster

Accelerating cash inflows starts with reimagining your entire receivables process from invoice creation through payment collection. Smart businesses implement multiple strategies simultaneously, creating a compound effect that can reduce collection times by 30-40%. The key lies in making payment as frictionless as possible while maintaining professional relationships.

Payment terms set the foundation for healthy cash flow, yet many businesses accept industry standards without question. By implementing cash flow strategies for small business, including early payment discounts and late payment penalties, you create financial incentives that align client behavior with your cash needs. Consider offering 2/10 net 30 terms—a 2% discount for payment within 10 days instead of the standard 30.

Proven Tactics for Faster Payment

• Send invoices immediately upon delivery or project completion, not at month-end
• Accept multiple payment methods including ACH, credit cards, and digital wallets
• Implement automated payment reminders at 7, 14, and 21 days
• Require deposits or partial prepayments for large projects
• Establish credit limits and payment history requirements for terms beyond COD

The global invoice factoring market’s projected growth to $6 trillion by 2032 validates alternative financing as a mainstream solution for bridging cash gaps. Invoice factoring allows you to sell outstanding invoices at a discount for immediate cash, typically receiving 80-90% of the invoice value within 24-48 hours.

Personal insight: The power of payment plans

At Complete Controller, we transformed our collection process by offering personalized payment plans during economic uncertainty. Instead of demanding full payment from struggling clients, we created manageable installment options that kept cash flowing while preserving relationships. This empathetic approach reduced our DSO by 20% while actually increasing client retention—proving that flexibility and efficiency complement each other perfectly.

Control Cash Outflows: Delay Expenses Wisely

Managing cash outflows requires strategic thinking that balances vendor relationships with your liquidity needs. The goal isn’t simply cutting costs but optimizing payment timing to maintain positive cash flow while preserving critical business relationships. Companies that master this balance typically improve their cash position by 25-35% within six months.

Vendor negotiation forms the foundation of outflow management, yet most businesses accept standard terms without discussion. Manufacturing clients we’ve worked with successfully extended payment terms from net 30 to net 60 simply by asking and demonstrating payment reliability. One client freed up $150,000 in working capital through strategic payment timing without spending a penny less.

Strategic Expense Management Framework

• Categorize all expenses as essential, important, or discretionary for prioritization
• Negotiate extended payment terms with key vendors based on purchase volume
• Consolidate purchases to leverage bulk discounts and quarterly payment schedules
• Automate recurring payments to avoid late fees while maximizing float time
• Review and renegotiate contracts annually for services like insurance and utilities

Smart cost reduction without sacrifice

Effective cost control focuses on value optimization rather than blanket cuts. Review each expense through the lens of ROI—does this cost generate revenue, save time, or protect assets? Eliminate redundant services, consolidate vendors, and renegotiate contracts based on current usage patterns. Many businesses discover 10-15% savings simply by auditing recurring subscriptions and services they no longer fully utilize.

Leverage Technology for Real-Time Insights

Modern cash flow management demands technology that provides instant visibility and predictive insights beyond traditional spreadsheets. Enterprise Resource Planning (ERP) systems and specialized cash flow tools eliminate manual errors while predicting future positions with 90%+ accuracy. This technological advantage separates thriving businesses from those constantly scrambling for cash.

Implementing cash flow forecasting techniques through automation transforms financial management from reactive to proactive. Systems like HighRadius and advanced features in Xero use machine learning to identify patterns, predict seasonal fluctuations, and alert you to potential shortfalls weeks in advance. This foresight enables strategic decisions rather than emergency reactions.

Technology Implementation Roadmap

• Assess current systems and identify integration opportunities with existing software
• Select platforms that offer real-time dashboards and mobile accessibility
• Configure automated alerts for low cash thresholds and unusual transactions
• Train team members on system features and establish usage protocols
• Review and refine forecasting models quarterly based on actual results

Case study: Tipalti’s transformation at Lucidworks

Lucidworks revolutionized their accounts payable process by implementing Tipalti’s automation platform, cutting their financial close time by 50%. The system eliminated duplicate payments, streamlined global vendor payments, and provided real-time cash position visibility. This technological upgrade freed their finance team to focus on strategic planning rather than manual processing, directly improving cash flow predictability.

AI-powered cash flow forecasting

Artificial intelligence now enables cash flow predictions that account for countless variables simultaneously. These systems analyze historical patterns, market conditions, customer behavior, and even weather data to forecast cash positions. SMBs using AI-powered cash flow forecasting techniques report 40% better accuracy in 90-day projections compared to traditional methods.

Build a Resilient Cash Buffer

Creating a protective cash buffer transforms your business from vulnerable to antifragile, ready to capitalize on opportunities while others struggle to survive. Yet current data reveals that 70% of small businesses maintain less than four months of reserves, leaving them exposed to economic disruptions. Building adequate reserves requires discipline but provides immeasurable peace of mind.

Historical comparison shows marginal improvement—in 2016, 50% of small businesses had only 27 days of cash reserves. While today’s four-month average represents progress, it still falls short of the six-month minimum most financial advisors recommend. This gap between reality and best practice creates opportunity for prepared businesses to gain competitive advantage during downturns.

Emergency Funding Solutions

• Line of Credit: Establish before you need it, providing instant access during cash crunches
• Invoice Financing: Convert outstanding receivables to immediate cash at 80-90% value
• Equipment Financing: Leverage existing assets for cash without disrupting operations
• Merchant Cash Advances: Quick funding based on future credit card sales
• Strategic Partnerships: Joint ventures that provide capital injection for growth

Proactive buffer building strategy

Start by calculating your true monthly burn rate including all fixed and variable costs. Multiply by six for your target reserve, then create a systematic savings plan allocating 5-10% of revenue until you reach this goal. Automate transfers to a separate high-yield account, treating reserves as untouchable except for genuine emergencies. Consider seasonal fluctuations when setting targets—businesses with variable income need larger buffers.

The Hidden Power of Inventory Optimization

Inventory optimization represents an overlooked cash flow lever that can free up 20-40% of working capital in product-based businesses. Most cash flow guides ignore this critical component, focusing solely on receivables and payables while inventory silently consumes cash. Smart inventory management transforms dead stock into liquid assets.

Just-in-time inventory principles reduce cash tied up in stock while maintaining service levels. Modern inventory systems predict demand patterns, automatically reorder at optimal points, and identify slow-moving items for liquidation. One retail client reduced inventory investment by 35% while actually improving product availability through better forecasting.

Inventory Cash Flow Optimization Steps

• Analyze inventory turnover rates by SKU to identify slow movers
• Implement automated reordering based on sales velocity and lead times
• Negotiate consignment arrangements where vendors retain ownership until sale
• Create flash sales or bundles to move aging inventory quickly
• Consider drop-shipping arrangements for low-velocity items

Vendor partnership innovation

Progressive vendors now offer consignment and vendor-managed inventory programs that dramatically improve cash flow. Under these arrangements, you only pay for inventory after it sells, essentially receiving interest-free financing. Storage X used this approach during rapid expansion, maintaining growth without cash flow strain by partnering with suppliers who shared their vision for mutual success.

Mastering cash-flow isn’t luck or magic—it’s systematic application of proven strategies combined with modern tools and unwavering discipline. Through rigorous analysis, optimized collections, strategic payment timing, technology adoption, and protective reserves, businesses transform financial chaos into competitive advantage. These five strategies work synergistically, each amplifying the others’ effectiveness.

At Complete Controller, I’ve guided thousands of businesses through cash flow transformations, witnessing firsthand how proper management changes everything. Companies that implement these strategies report 30% improvements in cash position within 90 days, along with reduced stress and increased growth capacity. Your business deserves financial stability that enables growth rather than constrains it.

Ready to transform your business’s cash flow from constant concern to competitive strength? Connect with our expert team at Complete Controller for customized strategies and hands-on guidance tailored to your unique situation. Together, we’ll build the financial foundation that powers your business dreams into reality.

FAQ

How Do Startups Improve Cash Flow?

Startups should prioritize recurring revenue models, maintain lean inventory through just-in-time ordering, offer prepayment incentives for annual contracts, negotiate extended payment terms with vendors, and consider revenue-based financing options that align with growth rather than fixed payments.

What’s a Cash Flow Statement?

A cash flow statement is a financial report that tracks all money entering and leaving your business during a specific period, divided into three categories: operating activities (daily business), investing activities (asset purchases/sales), and financing activities (loans/investments).

Can AI Manage Cash Flow?

Yes, AI excels at cash flow management through automated forecasting that predicts future positions with 90%+ accuracy, anomaly detection that flags unusual transactions, real-time alerts for low balances, and intelligent recommendations for optimizing payment timing.

How to Handle Negative Cash Flow?

Address negative cash flow by securing short-term financing like invoice factoring or lines of credit, renegotiating payment terms with vendors, monetizing unused assets through sales or leasing, accelerating collections with payment incentives, and implementing aggressive cost reduction measures.

Best Tools for Cash Flow Management?

QuickBooks and Xero provide comprehensive small business solutions with integrated invoicing and reporting, Tipalti excels at accounts payable automation, HighRadius offers advanced analytics and AI-powered forecasting, while Float and Pulse specialize in cash flow specific features.

Sources

• The Hartford. “Best Practices in Managing Healthy Cash Flow.” www.thehartford.com
• Tipalti. “Complete Guide to Cash Flow Management.” tipalti.com
• Tipalti. “10 Inspiring Accounts Payable Automation Success Stories.” (2025). tipalti.com/blog/accounts-payable-automation-case-studies/
• Xero. “5 Rules for Managing Small Business Cash Flow.” www.xero.com
• HighRadius. “Cash Flow Optimization.” www.highradius.com
• Truist Bank. “10 Strategies for Effective Cash Flow Management.” www.truist.com
• PYMNTS. “Cash Flow Crisis Deepens for SMBs.” (March 2025). www.pymnts.com/smbs/2025/study-finds-cash-flow-crisis-deepening-for-small-businesses-amid-tariffs-and-consumer-pullback/
• Farrell et al. “Cash is King.” SSRN. (September 2016). papers.ssrn.com/sol3/papers.cfm?abstract_id=2966127
• The Brainy Insights. “Invoice Factoring Market Report.” (2023). www.thebrainyinsights.com/report/invoice-factoring-market-13488
• Stripe. “Xero Case Study.” (2025). stripe.com/customers/xero
• Investopedia. “Cash Flow Statement.” www.investopedia.com/terms/c/cashflowstatement.asp
• U.S. Small Business Administration. “Manage Your Cash.” www.sba.gov/business-guide/manage-your-business/manage-your-cash
• Wikipedia. “Cash Flow.” en.wikipedia.org/wiki/Cash_flow
• Complete Controller. “Mastering the Cash Conversion Cycle.” www.completecontroller.com/mastering-the-cash-conversion-cycle/
• Complete Controller. “Payment Terms for Small Business.” www.completecontroller.com/payment-terms-for-small-biz/
• Complete Controller. “Accounting Innovations Trends.” www.completecontroller.com/accounting-innovations-trends/

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Have you just entered the entrepreneurship world? If you fear accounting operations (which who is not?!), dig in and learn the most important aspects below. Remember, accounting operations continue to cause the revolution of information, which turns the world’s economy up and down. As an entrepreneur, you aim to have a higher return figure than the figure of the investment/capital used. The reasons that an entrepreneur needs to learn about accounting and finance are the following three points:

1. Making future predictions for the business
2. Making adequate time, cash, and energy commitments for customer attraction and delivery of efficient goods and services
3. Measuring and reassessing progress toward more profitable behavior, reporting positive progress for investors, and changing direction with critical evaluations.

Entrepreneurs aspiring to make a significant mark in their field must grasp the latest tools required for accounting operations and finances. These vital accounting tools allow you to have the following:

• A clear demonstration of the results of the company’s activity to time
• Confidence in the future for bankruptcy prevention
• Timely submissions of reports to municipal authorities
• Monitoring all available possessions: material, labor, and financial
• Proper planning for the company’s activity

Easy Eight Steps to Accounting Basics for Entrepreneurs

Best accounting for small businesses: You first need to figure out your business accounting method for efficient bookkeeping.

There are two methods: cash and accrual. The primary difference lies in the company’s recognition of economic events.

The accrual accounting method matters when money is earned and you record transactions even though your customer hasn’t paid yet. The business must use this method in the case when:

1. There are sales of more than $5 million a year.
2. There are gross receipts of an inventory of items of $1 million annually.
3. The business is a publicly held corporation.

In the cash method, you record transactions as they occur when the cash changes hands. It is the best and the most straightforward method for starting a small business.

Know what kind of records to keep

You should be aware of the type of records that you need to keep.

Legal documentation. Trade licenses, permits, sale tax licenses, DBA certificates, or any other legally significant documents for company activity. These documents should be stored somewhere safe and kept accurate and current. You should know the location of both online and offline documentation.

Supporting financial documentation:  Source documents are of great worth for a company because of all bookkeeping operations. Supporting financial documents include contracts with counterparts, receipts, payrolls, cash registers cash, and several other documents associated with the business area.

Proper record-keeping

You should maintain transactions, sales, and profits properly. Records of outgoing and incoming payments, funds movement, employees’ paychecks, liabilities, taxes, overhead expenses, and operating costs should maintain costs. Documentation of cash comes in the shape of the costs for the digit of material, products, and services you sell and when they should all be appropriately kept.

Documents management

You should organize all an entrepreneur’s documentation well to reduce mistakes. Bookkeeping should be updated and arranged. The standard rule of thumb is never to document “too much.”

Separate business account

Personal and business accounts must be separate to better understand business expenses and taxes. When the two are mixed, it is tough to discern between personal income/expenses and business income/expenses.

Balance sheet

A balance sheet is essential to determining a business’s financial health. It provides information on assets, liabilities, and equity.

Select accounting software

Every entrepreneur should have accounting operations software to manage more effectively and efficiently. Software for small businesses is available online and genuinely catered to every company.

Acquire professional accounting advice

Take support from a professional accountant and bookkeeper for the best bookkeeping practices. They will guide your business in controlling transactions and recommend changes for better growth. They are also responsible for setting up company establishment. A well-oiled bookkeeping system is a must to better understand transactions.

Conclusion

Entrepreneurs need at least a basic understanding of their business’s accounting and financial practices. Whether bookkeeping is outsourced or done in-house, effective financial management is essential to ensuring business success.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Reducing overhead expenses can be tricky as modern businesses have many new aspects to handle. For any business to perform optimally, cutting costs matters. To contribute to commercial endeavors, stopping any unwanted or unnecessary costs is a key management skill. In the global markets today, being cost-effective is a necessary step since energy resources are diminishing.  Similarly, as the population booms, economies are going to be affected in different ways. Here are eight useful strategies for reducing overhead expenses.

1. IT Resources and Costs

Information Technology (IT) resources can eat up energy, so being energy efficient and reliable are two things mandatory for modern IT shared resources like printing and email. Switching to equipment that runs with low costs is advised. Large screens consume more electricity, and so does an older version of computer hardware like motherboards. The latest technology allows more cost and energy savings, so converting your business needs to cloud computing is initially costly but saves financial resources in the long run.

2. Reducing Overhead Expenses with the Internet

Using internet telephony is a way to save on business communication costs by reducing phone bills and other expenditures offered on a mandatory basis by the phone company. And, living in the 21^st century, it is wise to utilize all technology available.

3. Monitor Payment Services

Some banks deduct charges from the merchant account.  If those charges increase and daily operations do not justify the charge, then stop using it. If in-person sales are poor and the only sales that occur are online payments, then merchant services for in-person purchases will mean partial profits. To reduce overhead expenses, insist on cash wherever applicable.

4. Daily Vital Activities

The digital era has created paperless environments. Vital daily correspondences, for example, between vendor and field agents like engineers for specific material requests, can be conducted and stored as PDF on digital storage much easier than printing paper and keeping a file. Having a centralized database of correspondence would be good for this situation; however, other expenditures like electricity and heating expense must be monitored. Employees who wish to work from home are welcomed to reduce overhead expenses and cut utility charges and related in-office expenses. Even on-premises, request all equipment to be placed in standby mode to be cost-efficient. Avoid high-frequency lighting and provide energy-efficient lighting with low-energy bulbs.

5. Outsourcing

Some businesses require minimized accounting or IT services, which can easily be received by consultants or service providers. By outsourcing these departments, businesses can benefit by employing interns or freelancers. Temporary staff is effective for specific projects. Businesses like vending or merchandising eradicate the need for staff mass training and help reduce overhead expenses. 

6. Outdoor Calls

Traveling for campaigns requires cost-effective methods, like using teleconferences instead of taking a team on a three-day product introduction workshop. Using business tools for communication like Skype should be the first option for conferences. With technology and the evolution of the web, it is a convenient tool that is always an ally of a business.  When reducing overhead expenses, use the rail or book tickets well ahead of time; travel lightly and only take essential trips.  

7. Business Gatherings

It is always a good idea to make business contacts, but it is even smarter to form joint venture partnerships. Some businessmen welcome projects and, with the experience it provides, the portfolio of a business shines bright! Sharing projects could lead to consortiums which help provide an influx of revenue while sharing tasks between entities. This approach is rampant in construction, oil and gas, power generation, etc. This practice leads to win-win situations, which are of mutual interest. Carrying assigned tasks as per project description helps in reducing overhead expenses on both sides while delivering quality and ensuring a greater profit.

8. Smart Decisions – Buy Versus Rent

Some business owners must consider renting versus buying, which is better? It is always a great idea to procure small equipment like pumps that trained staff can easily handle. It is a little difficult with high-power industrial pumps, which can be rented in dire circumstances, but it is always preferred that continuously needed hardware be purchased.

Reducing overhead expenses can be tricky as the modern business must juggle many different aspects. However, for a business to perform and turn a profit, saving and cutting costs matters. To contribute to commercial endeavors, stopping any unwanted or unnecessary costs is the key. In global markets today, being cost-effective is a necessary step.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

 For start-up entrepreneurs, “Time Management” is how you use your time to maximize productivity in achieving your business start-up goals.

Just as bookkeeping is mandatory in making and maintaining financial records, effective time management is crucial for entrepreneurs to achieve their business goals. They are ultimately responsible for every aspect of their company. They must allocate the right amount of time to the right business tasks to keep their organization running smoothly. Here are fifteen excellent time management tips for start-up entrepreneurs.

Set Goals the Right Way

Begin by verifying your start-up goals and setting them the right way. Setting your goals will help you stay focused on them and eliminate hindrances as much as possible. On the contrary, goal setting in the wrong way will lack the proper targets, eventually forcing you to fall off the track. Make the most of the SMART goal-setting method. SMART is an acronym for S-specific, M-measurable, A-attainable, R-relevant, and T-time bound. Ensure your goals are powerful and meaningful enough to push you to achieve them.

Prioritize and Delegate

Prioritizing your personal and professional goals and delegating your routine activities to a reliable and capable person are essential time management tips. You also ensure reduced stress and outstanding productivity. 

Find a Great Time Management System

Find a sound time management system to accomplish most effectively depending on your choice, organizational culture, and start-up goals. Many entrepreneurial enthusiasts find that Covey’s quadrant time-management system is among the most suitable and effective. Time management identifies your goals as urgent, non-urgent, critical, and not essential.  

Audit Your Time for a Week Straight

Spend an entire week consistently straight to assess how you use your time right now. Monitor your activities, record them in a journal or on your cellphone app, split the duration into blocks of one or half an hour, and analyze how you worked, used your time, and wasted some of it. At the end of your seventh day, tally up all the numbers. This will help you identify areas for improvement.

Work on MITs in the Morning

Always focus on your start-up goals and begin your day by working on your most important tasks (MITs). Achieving them will give you the most significant motivation and momentum to stick with your work.

Follow the 80-20 Rule

The 80-20 rule is another crucial time management tip that states that 80% of your efforts come from 20% of your results. When working on your sales start-up goals, it means that 80% of your sales come from 20% of your clients. Consequently, you can scale that out to work smartly by identifying that 20 % of your efforts will generate 80% of the results with accurate tracking and analysis.

Adopt Good Habits

All good habits, such as self-discipline, self-initiative, efficiency, accuracy, teamwork, and office etiquette, serve as excellent time management tips to manifest your start-up goals. Thus, practice them and constantly improve on your areas of weakness.

Eliminate Bad Habits

Our bad habits are our biggest timewasters. They can include procrastination, lying, negativity, tardiness, poor communication, social media addiction, foul body language, inattentiveness, inefficiency, and temper tantrums. Thus, try eliminating them as much as you can.

Take Frequent Breaks

Breaks are essential to relax your body and recharge your mind. Keeping your physical, mental, and emotional state at peak levels by taking at least 10 minutes of a break in an hour is one of the essential time management tips. 

Exercise and Meditate

Daily meditation and physical exercise are great ways to maintain the physical and mental balance that renders efficient performance. Thus, practice them in the morning or evening at your convenience.

Make to-do Lists

Making a to-do list every evening for the next day is an excellent way to stay effective and efficient throughout the day. It also helps you stay consistent and closer to your start-up goal realization.

Seek Mentorship for Guidance

Find a mentor with excellent expertise in time management tips who has been through a similar wringer and can help you fulfill your start-up goals. Good mentorship enables you to stay on track with your time and goals.

Cut Down on Distractions

Clutter and disorder in your office or workplace will distract you, causing you to lose time by focusing on unproductive activities. Thus, distractions can be reduced by making things neat, clean, and organized. In addition, avoid checking your social media accounts during the workday. That can wait.

Turn Off Unimportant Alerts

Promotional emails, subscription updates, and app alerts distract you. Therefore, turn off social media app alerts and hire an assistant to manage your emails and other less critical tasks. They can also update you about important emails that come through while you are working.

Trust Yourself

By the end of the day, time management tips are not things that you will master overnight. You must persevere. In addition, be confident about yourself. You will learn to manage your time effectively and achieve your start-up goals with consistent practice and patience.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.