Tools for Managing Your Business's Money

A great product and exceptional service are the foundation of many businesses. However, to succeed, you must also understand some key business terms and how to manage revenue and expenses.

Many successful businesses falter because they don't understand the financial aspects of doing business. Terms like receivables, payables, and short-term cash management are important components of a business's finances. When partnering with Croghan, we review these aspects to ensure your business has the financial tools to succeed.

Your business should utilize software like Business Online Banking to help owners and employees view account balances and transactions, ensuring adequate cash flow management.

Business Online Banking allows Business owners to restrict access based on an employee's responsibility, acting as an internal control to protect and better understand your business's finances.

In addition to understanding finances, you must also understand the financial needs of your employees. Businesses should consider financial tools to improve employee satisfaction, including direct deposit and health savings accounts. Croghan can also speak with your employees about better management of their money and expenses.

Connect with Shantel Laird, AVP, Commercial Deposit Officer, to discuss reviewing your business's finances.