You probably can’t rely on your bank to save the day so it’s down to you
A gory cashflow model is a useful cashflow model – the bloodier the better
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Cashflow & credit management
Five tips to improve your sales invoicing
If you are being paid on credit terms then sending the URL instead of the invoice is simply creating a reason for your invoice not to be paid.
How good are your management accounts?
This company has annual sales in the millions of pounds and it reminded me that there are many businesses in the UK of all shapes and sizes that do not have adequate financial information.
Credit management – A sale is a gift until it’s paid for (part 1)
Many credit rating agencies can supply marketing lists pre-screened to contain only prospects with a decent credit rating. So, there really is no excuse to sell to high risk prospects in the first place.
Bookkeeping is the bedrock of your business – EBook
Good bookkeeping is the bedrock of every successful business. As you can see from our illustration, bookkeeping is at the centre of every aspect of your financial management and you let it lapse at your peril. However, we see too many businesses where the bookkeeping is not done well enough…
Credit control
A sale is a gift until it’s paid for.
If you give credit terms to your customers then make sure they pay you on time.
You’re not a bank so don’t let your customers borrow from you, which is what they’re doing if they delay payment.
We help companies stay on top of credit control from start to finish:
credit checking prospects and ongoing customers
invoicing accurately, electronically, punctually
chasing for payment – phone is best!
taking action against slow payers
Put credit control front and centre in your business – you can’t afford not to!
Cashflow
There are two types of business – those that need to concentrate on cashflow and …….. all the rest.
They say “cash is king” and that’s so true. Even if you are making profits yo can still run short of cash and a business that’s short of cash is in trouble.
Managing cash flow – an ICAEW publication
The Institute of Chartered Accountants in England & Wales (ICAEW) runs a Business Advice Service (BAS) which we are members of. As part of the BAS commitment to UK business, we offer a free introductory meeting to any nearby company i.e. within 10km of the SW6 or TW9 post codes.
Cashflow and credit management – top tips
Cashflow and credit management are so important for businesses that it’s no wonder we’ve been blogging on these two subjects for ages.
There are two types of business – those that don’t need to focus on cashflow………and the rest.
For the rest, I hope these blogs on how to build and use a cashflow model and how to get solid credit management practices in place will be practical and helpful.
A few thoughts on financial planning
Your cashflow forecast may be the most important document in your business. Haven’t got one? You’re not alone but you should build one now.
