Five Improvements For Your Business Cash Flow

Five Improvements For Your Business Cash Flow

Good control of your cash flow is essential for the successful growth of your business. It’s important, as a business owner, that you understand how much cash is going in and out of your business. However, it is also important that you make improvements where you can that will help improve your cash flow.

We have put together five improvements for your business cash flow below. Have a look at our ideas and give them a go. See how much they can help you improve your cash flow, if even in the short term.

  1. Accurate & Timely Invoices

Everyone makes mistakes, however even the smallest mistake on an invoice can be used as an excuse by a client to delay payment of the invoice. Make sure that your invoices are sent on time and double check that they are correct, so your clients have to pay on time.

  1. Speed Up Payments

It’s possible to cut down the amount of time you spend waiting for payment, by offering an incentive. A discount as small as 1% or 2% for clients that pay within 2 days of receiving the invoice increases the chances of speedier payments and money in your business account sooner.

  1. Review Your Assets

Look at the assets in your business. Are they all being used? Do you have a large printer with all the bells and whistles that is just not being used? Then why keep it where it takes up space and gathers dust? There could be another business down the road that are willing to pay good money to take it off your hands.

  1. Chase Outstanding Invoices

Many business owners are scared to chase for money they are owed for outstanding invoices, for fear of causing client upset. Make sure you put time aside to chase your debts regularly. But make sure you keep it friendly and polite too. That way you’ll get paid and keep the client.

  1. Understand Clients Payments

Ask clients when they expect to pay your invoice. Then use this information to manage your own credit control function. For example, if a client pays all invoices on 30 day terms, there is no point chasing for payment after 7 days. It also means you can work your invoices around the time they do their payment runs.

 

If you are concerned about the cash flow of your business, then please call our team of accountants in Peterborough, where we can discuss your requirements and suggest suitable recommendations for your business.

Archives
Testimonials for AK book-keeping

Electronics online retailer

Our decision to choose the services AK Book-keeping and Payroll Services has turned out to be a really important enabler to the growth of our business and has delivered us fantastic value for money. Their accuracy and efficiency in compiling our accounts and payroll documents has allowed us to focus on the things which we do well and add real value whilst removing the distraction of unwanted and complex administration work. I would recommend them without hesitation.

Chris

AK Book-keeping
5
2015-10-23T16:25:46+01:00

Chris

Our decision to choose the services AK Book-keeping and Payroll Services has turned out to be a really important enabler to the growth of our business and has delivered us fantastic value for money. Their accuracy and efficiency in compiling our accounts and payroll documents has allowed us to focus on the things which we do well and add real value whilst removing the distraction of unwanted and complex administration work. I would recommend them without hesitation.

Carpet & Lighting retailer

Now that we have AK Book-keeping doing all our tax returns, wages but to name a few, we have more time to focus on the business and a lot more leisure time

Simon & Cathy

AK Book-keeping
2015-10-23T16:26:07+01:00

Simon & Cathy

Now that we have AK Book-keeping doing all our tax returns, wages but to name a few, we have more time to focus on the business and a lot more leisure time

Multiple Franchise Owner

I Periodically review my resources (like any business should) and on each and every occasion I have decided to retain AK Bookkeeping’s services. It’s one of those business I know I can depend on.

Bob

AK Book-keeping
2015-10-23T16:44:40+01:00

Bob

I Periodically review my resources (like any business should) and on each and every occasion I have decided to retain AK Bookkeeping’s services. It’s one of those business I know I can depend on.

John – Building Company owner

We engaged AK Book-keeping some two and a half years ago, from the outset their communication has been excellent. We were provided with a schedule of monthly costs and a clear indication of what was included. To date we have had no reason to consider changing from AK Book-keeping as their service has been reliable, efficient and cost effective.

AK Book-keeping introduced us to Xero accounting system from the outset and for a reasonable monthly fee we benefit from all the Xero facilities available and have access to view our account, use data and monitor our performance and it is all relatively simple. We would recommend AK Book-keeping and the Xero system.

John

AK Book-keeping
2016-02-05T16:33:23+00:00

John

We engaged AK Book-keeping some two and a half years ago, from the outset their communication has been excellent. We were provided with a schedule of monthly costs and a clear indication of what was included. To date we have had no reason to consider changing from AK Book-keeping as their service has been reliable, efficient and cost effective. AK Book-keeping introduced us to Xero accounting system from the outset and for a reasonable monthly fee we benefit from all the Xero facilities available and have access to view our account, use data and monitor our performance and it is all relatively simple. We would recommend AK Book-keeping and the Xero system.

Online Retailer

Les has worked with us for 12 years now and supported our Bookkeeping and Payroll needs. Always helpful, cheerful and gets the job done efficiently. When required has helped us with other business related issues outside of Bookkeeping.

Online retailer

AK Book-keeping
5
2018-07-02T22:05:34+01:00

Online retailer

Les has worked with us for 12 years now and supported our Bookkeeping and Payroll needs. Always helpful, cheerful and gets the job done efficiently. When required has helped us with other business related issues outside of Bookkeeping.

Peterborough online retailer

Les has worked with us for 12 years now and supported our bookkeeping and payroll needs. Always helpful and cheerful and gets the job done efficiently. When required has helped us with other business related issues outside of bookkeeping.
AK Book-keeping
5
2018-09-19T18:24:06+01:00
Les has worked with us for 12 years now and supported our bookkeeping and payroll needs. Always helpful and cheerful and gets the job done efficiently. When required has helped us with other business related issues outside of bookkeeping.
5
3
AK Book-keeping