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Monday, 12 May 2014

Manage cashflow daily to avoid problems

"Turnover is vanity, profit is sanity and cashflow is reality."

If your company does not have a daily cashflow system set up, now is the time to do it. It's good business sense to regularly look at finances so you can spot any potential issues early on.

Why not try our free daily cashflow template? As part of improving cashflow, it's important to look at how you organise debtor collection. late payers are not good customers! See our top tips to help bring in those late payments.

Don't forget the power of cost cutting in your daily or weekly review of accounts. Keeping a good grip on finances can help you pinpoint the non-essential costs from the essential ones. We also have a handy guide to cost cutting too!

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