HOME ABOUT US ARTICLES BLOG FAQ CONTACT US
Accounting Software Australia, MYOB, Quickbooks, accounts software, bookkeeping software
Accounting Software Australia, MYOB, Quickbooks, accounts software, bookkeeping software

Articles Blog

Business Financials – Managing cash flow small business

images/Business Financials.jpgIf and when you manage to make a profit in your business, part of good business finance 101 means now you have to follow it up with a professional approach to managing the cashflow in the small business. This requires a good understanding and keeping a close eye on what drives the cash flow – both in AND out!

The key components of good cash flow management are:

  • Profitable income and increasing
  • Continual management and minimisation of costs and business overheads
  • Pricing for profit – if you’re able to increase prices, do It!
  • Timely collection from customers – don’t be a bank for them
  • Stock management – enough to sell but not too much to waste working capital
  • Good job management – finishing timely and with the best quality possible
  • Utilising all credit terms from suppliers and increasing where possible

The very best way to handle managing the cash flow in small business is to have aCash Flow Projection’. This is a spread-sheet that plots out what your expected income will be (taking into consideration the time customers are likely to take to pay) and what the expected outgoings will be. As well as income it includes any other funds coming into the business, such as loans, tax refunds etc. Outgoings will include items such as loan repayments, tax, dividends etc. These are just as important to take into account as their timing can have a big impact on cash flow.

Get Your FREE “Avoid these GST mistakes”

There are 18 that the Tax Office see regularly – Get them right! This email address is being protected from spambots. You need JavaScript enabled to view it.

Need help? Not sure? Call for FREE 30min advi ce / strategy session today!

Call 0407 361 596 Aust

Search for info you need in the box towards the top right, Call for FREE 30min advice 0407 361 596 or click for the list of our articles.
~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~

Accounting Software Australia, MYOB, Quickbooks, accounts software, bookkeeping software

CATEGORIES


CUSTOMER LOGIN





Forgot your password?
Forgot your username?
Create an account

YOUR CART

The cart is empty

Accounting Software Australia, MYOB, Quickbooks, accounts software, bookkeeping software
Accounting Software Australia, MYOB, Quickbooks, accounts software, bookkeeping software
© Account Keeping Plus 2012   |   Website Design by Low Cost Web Site Design Melbourne    |   Admin