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Preparing Forecasts

After you have gathered information from which you can make a forecast, consider the trends of your business, the business environment as a whole, and any economic conditions that might affect your sales; then prepare a forecast of future sales.

Cash Receipts Forecast

A cash receipts forecast is somewhat different from a sales forecast, unless your business operates on a cash basis. A cash basis business is one in which all revenue is reported as income only when it is received, and all expenses are reported only when the bills are actually paid. A retail store, where income is recorded as it is received in the cash register, is an example of a cash basis business.


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