How to better manage your cash flow, by small business accountants Sydney
As we all know, cash is king when it comes to the financial management of growing a business. Our small business accountants in Sydney know how you can better manage that pesky cash flow.
All business owners have experienced the lag between paying suppliers and receiving money from customers, that’s why a properly managed cash flow system is essential and here are our tips:
Measuring your cash flow: When you prepare cash flow projections for next year and the next quarter, an accurate prediction has the ability to tell you when trouble is about to strike
Improving Receivables: If you got paid for everything you sold on the spot, you would never encounter a cash flow problem, unfortunately this does not happen but there are ways for you improve you cash flow. Some of which include implementing discounts for people who pay on time, ask customers to pay a deposit at the time orders are made etc.
Our business accountant in Sydney believes that through the right strategies any business can avoid cash flow problems!
Feel free to contact our small business accountants in Sydney today and start moving your cash flow in the positive.