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

Cashflow tip – Improving Cashflow in a Business

images/CashFlow.jpgThere are several areas of your business can have an effect on cash flow, that is, how much cash is available. Here are 5 things to attend to when cash is low. Overall, controlling your expenses and increasing your sales, can improve your cash flow, and here’s more about how -

1. Review stock levels

By holding too much stock means you tie up cash and increase storage and insurance costs. Practicing good stock control is to keep stock at efficient levels to service customers, but not sit for months waiting to sell.

2. Manage customer and supplier accounts

Regularly follow up those overdue debtor accounts who owe you money. Manage debtors by having good credit policies and enforcing them, to keep your cash coming in.

You may also be able to negotiate longer payment terms with your creditors/suppliers. If you can get payment from your customers before you pay your suppliers, you will have zero out of pocket expense – easier said, but sometimes can happen.

3. Review banking products

Using the appropriate banking transaction products can have the money in your pocket sooner. Consider a mobile EFTPOS device, or investigate services to take payments over the phone or online.

4. Increase sales income

Review your pricing (time to increase?), use a new advertising campaign or improve your customer service and sell add-ons (would you like Fries with that?) to see if you can increase profits. You may also want to consider other ways to growing your business, such as complimentary products or services.

5. Reduce overheads

Think about reducing staff overtime hours and controlling overheads. Make your business more environmentally friendly may reduce costs such as power and water bills and minimise wastage. Remember to clearly communicate your policies on these items to your staff.

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

Call 0407 361 596 Aust

Call for FREE 30min advice 0407 361 596 orclick 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