[05/10/16]

Five Tips for Better Cashflow

1. Invoice promptly

Often small businesses concentrate on delivering the goods and services to their customers but then take time raising the invoice.  Sometimes businesses even forget to raise invoices at all, and customers won’t be the ones to remind you.  There's no excuse anymore.  Using online accounting apps, invoices can be raised on the go.  Repeating invoices can be set up to automatically be raised each month.  

2. Offer numerous ways to pay

In today’s world the last thing most businesses want to do is pay by cash or by cheque.  Invoices can be paid via online banking, or via low-cost credit card payments services such as Stripe, which offers an online link within your invoice.  Physical card payments can also be taken via low-cost services such as iZettle which connect a customer’s card to a phone, tablet of laptop.  Even direct debits can be set up now for little expense, using services such as Go Cardless.

3. Keep in touch

Don’t send your invoice and automatically expect customers will pay it.  Speak to them to make sure they received the invoice, that they agree the charges, and that they can give you a payment date.  

3. Manage payments

Keep on top of VAT, corporation tax and PAYE liabilities – HMRC will have no trouble chasing you.  Likewise, your suppliers will want payment on their agreed terms just as you do off your customers.  Late payment to your suppliers means you run the risk of reduced credit, higher prices, or worse still, no credit at all.

4. Forecast

Use accounting software tools, such as Xero, or Crunchboards to forecast future sales, purchases and tax liabilities, and to highlight any future crunch points in cashflow.  Even a basic spreadsheet is better than nothing!

Do all of the above and you'll be on the road to a secure cashflow.  

Don't, and you're risking the future of your business.  

And do you really want to risk your business?

 

 


Comments

10 comments for “Five Tips for Better Cashflow”

  1. Posted Sunday, October 08, 2017 at 6:27:27 PM

    Dofollow Trust Flow Backlinks

    [url=https://www.fiverr.com/linkshop/20-high-trust-flow-and-citation-flow-dofollow-backlinks]Dofollow Trust Flow Backlinks[/url]

  2. Posted Monday, October 09, 2017 at 12:20:18 PM

    These are awesome tips for me! If you can now provide us with some tips on essay writing as well then I'd really appreciate it. Cheers!

  3. Posted Wednesday, October 18, 2017 at 6:06:43 PM

    I have read your tips and now, I will apply them on my Vr Headset With Remote business and hopefully, they bring me better cashflow as you say.

  4. ali
    Posted Friday, November 03, 2017 at 11:04:11 PM

    I came onto your blog while focusing just slightly submits. Nice strategy for next, I will be bookmarking at once seize your complete rises... Write notes

  5. ali
    Posted Sunday, November 05, 2017 at 7:26:28 AM

    Great info! I recently came across your blog and have been reading along. I thought I would leave my first comment. I don’t know what to say except that I have. Cougar

  6. frank
    Posted Sunday, November 05, 2017 at 3:31:39 PM

    Totally awesome posting! Loads of valuable data and motivation, both of which we all need!Relay welcome your work. sinkology

  7. ali
    Posted Sunday, November 05, 2017 at 8:05:27 PM

    You ought to basically fantastic not to mention solid advice, which means notice: Save The Marriage

  8. Robinjack
    Posted Monday, November 20, 2017 at 4:08:49 PM

    Much thanks to you for such an elegantly composed article. It's brimming with clever data and captivating depictions. Your perspective is the best among numerous. beirut escorts

  9. Robinjack
    Posted Tuesday, November 21, 2017 at 2:06:57 PM

    Positive site, where did u concoct the data on this posting? I'm satisfied I found it however, sick be inquiring soon to figure out what extra posts you incorporate. autoradio gps web site click

  10. Robinjack
    Posted Wednesday, November 22, 2017 at 3:43:08 PM

    On the off chance that more individuals that compose articles truly fretted about composing awesome substance like you, more perusers would be keen on their compositions. Much thanks to you for thinking about your substance. escorts in lebanon


Leave a Comment

Tel. 01484 600 514

The Media Centre
7 Northumberland Street
Huddersfield, HD1 1RL

Twitter Icon  Facebook Icon  Linkedin Icon 

Latest Blog:

Press Release: MMA Appoints New Director

Sara Crowther has been promoted to Client Services Director Sara Crowther has been promoted to Client Services Director at My Management Accountant (MMA), reflecting the growing business’s emphasis o…

[Read More]