Five steps to better cashflow
Five Steps to Better Cash Flow.
Need a hand managing cash flow? You’re not alone. The key is getting your invoicing right, by invoicing customers as soon as possible and using tools like Xero’s invoice reminders to move payments along.
That said, there are a few other simple rules you can apply to manage your cash flow and get your invoices paid even faster:
1. Keep your books accurate and up to date - so you can see your financial state at a glance.
2. Don’t be too lenient with your customers - you can be direct and still polite. Keep a close watch on your accounts receivable turnover at all times and act sooner rather than later.
3. Keep your accounting simple - so you have a good handle on these business metrics. We can help with this.
4. Keep your business and your professional finances separate - this is essential to understanding your true cash flow position. Mixing your business and personal finances can leave you uncertain about business performance.
5. Build a cash reserve - so you are prepared for unexpected events and can take advantage of opportunities when they pop up.
First you want to get your invoicing right. Get into a habit of sending invoices quickly. Then follow the steps above to collect revenue and keep your finances organised.
Get in touch for guidance on your invoicing and business cash flow.
Phone: 027 6156145 or 06 8671905
email: admin@jba.net.nz
website: jba.net.nz
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The Gypsy Fair
The Gypsy Fair is a nationwide travelling event, bringing family fun, live music and an unbeatable vibe to each town we visit. Being on the road for over 45 years, it’s safe to say our roots run deep!
Come for a browse, let the kids loose on our rides, park up with some food and coffee, or watch our blacksmith tinker away, either way we would love to see you! Come & hang out for the day, we’re sure to bring smiles to your faces, and create lifelong memories.
Churchill Park
Sat 12th and Sun 13th October
9am to 5pm
Free entry for everyone, see you there!