Managing cashflow is necessary for any business, but it’s especially important for freelancers.
Doing most or all of your billing through oDesk can simplify cashflow management, but if you’re working with multiple sources of income (oDesk, Elance, direct billing, PayPal, etc.), this tool can help you keep track of it all.
Let’s take a quick look at how it can help your freelancing business.
How to Estimate Cashflow as a Freelancer
Step 1: Enter your gross income for the week into the spreadsheet.
Step 2: After six weeks, start tracking your rolling average income. This will give you a picture of how much you earn during a typical week.
Step 3: Get a visual overview of your gross income by looking at the chart within the spreadsheet.
How do you track your cash flow as a freelancer? Does this tool help?