Preparing for a recession means preparing for the unknown. That’s a tough thing to do!
The best advice is to think conservatively and get a second opinion from a CPA with experience in recovery from recessions and other economic disasters.
One tool is to use existing accounting data, supplemented with new information, to create a visual cash flow forecast.
After we see a timeline picture like this, it is easier to add the additional protections to ensure adequate cash under a possible downturn in the economy.
Should we be looking at this type of cash flow information for your business? If so, just call.