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
Happy hump day! Here's a new riddle for you, neighbours!
What freezes when it is heated up?
Do you think you know the answer to our daily riddle? Don't spoil it for your neighbours! Simply 'Like' this post and we'll post the answer in the comments below at 2pm.
Want to stop seeing riddles in your newsfeed?
Head here and hover on the Following button on the top right of the page (and it will show Unfollow) and then click it. If it is giving you the option to Follow, then you've successfully unfollowed the Riddles page.
Last chance to share your Bright Spot...
From stunning sunsets to quirky murals - we're loving seeing the beautiful photos that members are sharing across the country. These local Bright Spots add a little colour and brighten the day.
Our Bright Spots campaign closes on Sunday, 15 July so time is running out to share yours. With 10 prizes of $250 Resene ColorShop vouchers and $250 Prezzy® cards up for grabs, do take a moment and share this happy place with us.
Enter your local Bright Spots pics here today and be in to *WIN*.
Why are ghosts such bad liars?
...You can see right through them.
No, we haven't lost the plot! July 1st is International Joke Day and because laughter is good for your body, we want to get involved.
So, go on, jokers! Share your best joke below...
Loading…
