Sep 25, 2015
As the first part of a series, our partners, KPMG have put together their FIVE top tips for managing your cashflow:
Make budgeting your mantra… Understand how you’re going to spend your cash in the year ahead.
Work out what cash you will need in the short, medium and long term, and keep your banker in the loop!
Review how quickly you receive money owed from customers – you haven’t completed the sale until you collect the cash!
Negotiate better payment terms – it’s always better to receive money quicker than paying money out!
Everything is negotiable – negotiate price with all your suppliers!
Of course, making sure you have good visibility of your cash flow is crucial to keep on top. Keep it and your other accounting needs simple with KPMG's Small Business Accounting package, giving you the benefit of their experience but at affordable rates. For more information go to KPMG's page on our site.