"Our mission is to help our customers succeed in their business, while supporting them every step of the way"
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It is coming into the crazy season, time to look at your cashflow and see what needs attention, get those jobs finished that you have been putting off and start chasing your customers for payment.
It’s a well-worn phrase, but cashflow really is the lifeblood of your business.
When your cash inflows are greater than your cash outflows, that puts you in a positive cashflow position – giving you the liquid cash needed to trade, improve and grow as a business.
But if costs start to outstrip your income, that can leave too little cash in the pot. This results in mounting debt, problems paying suppliers and (in the worst cases) the failure of your business.
So it’s vital to get proactive with cashflow management!
Fast ways to improve your cashflow
Cashflow is an ongoing process, where you need to constantly track, monitor and act on the numbers you see in your regular cashflow statements.
A negative cashflow position can be due to a number of factors, whether it’s insufficient sales, slow payment of invoices or poor cost management. The solution to these issues is to take a proactive and holistic approach to improving the company’s cash situation.
Some key ways to boost your cash position include:
- Improve your sales and marketing – creating more sales and boosting income
- Make it easy to get paid – using the latest in payment tech to speed up payment times
- Track and manage debts – chasing any late payments to reduce your aged debt
- Manage spending effectively – and start to track, review and reduce your costs
Talk to us about improving your cashflow
If cashflow is becoming a headache for your business, we can quickly help you get back in control of your cash position – and attain that all-important positive cashflow position.
Get in touch to improve your cashflow.
I went to the Xero Roadshow a few weeks ago and caught up with some fellow Bookkeepers, Melanie from Xero, Stella from Count Me In and Leaine from Jones Business Solutions.
It was great to see some clients and lots of new faces too.
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Some dates to remember
PAYE for October is due for payment 20 November.
GST for October & November 2019 due for filing and payment by 15 January 2020
Provisional Tax payment 2 is due for payment 15 January 2020.
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