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Thursday, 23 September 2010

Cash flow problems could be solved by managing cashflow daily

Does your company have a daily cash flow system in place? If not why not! Download our free daily cashflow template. Many large businesses look at their cashflow daily. You are far more likely to be able to spot potential problems ahead if you are regularly looking at it.

There is an old saying; " Turnover is vanity, profit is sanity and cashflow is reality."

Fill out the cashflow and use every day to see "where you are" and what problems lie ahead. Plug in the dates that each customer that owes you money should pay you, then you have a guide to use for debtor collection

Our daily cashflow model will at a glance point out any major problems that lie ahead. It will also help with the following;

Debtor collection: are your customers taking longer to pay you? If so why is this? Best thing to do is to find out by asking how things are going with ALL of your customers, you can assess your own debtor collection dates, find out how they are doing and market to them. And then update the daily cashflow, it should show when customers are likely to pay you.

Cost cutting: Good cashflow management goes hand in hand with cost cutting, when you see daily figures it helps focus the mind! Please take a look at our cost cutting tips on our site.

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Many thanks for your comments. If you have a private business problem and you want advice give us a call on 0800 9700 539 or email me at keiths@companyrescue.co.uk. If you are a professional advisor with a troubled client, please suggest they visit www.companyrescue.co.uk or contact me as above.

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