For businesses that extend credit to their customers, late payment or complete failure to pay is a reality. While there are many reasons why debtors do not pay, no business should willingly accept that these accounts should be written off without proactively implementing strategies to try to recoup funds. Of course, debt recovery services […]
While it is difficult to imagine a business operating without offering credit to customers, maintaining a healthy cash flow is essential for a business to thrive. The availability of ready cash is crucial for ongoing commitments and further growth. Encouraging prompt payments from customers will ensure a timely turn around of cash within […]
The key to keeping your business in the black is to have good accounting and bookkeeping practices from the very outset and this article looks at some of the best ways for a small to medium business to stay organised and out of debt. Have sufficient capital Many small businesses go under in the […]
Knowing what you are owed and when you are likely to be paid is vital for making effective and informed business decisions. An efficient accounts receivable system is necessary to ensure this information is accurate and timely Invoice From the moment you send out your invoice for payment, your customer should be in no […]
Cash flow is the amount of money that comes in and out of a business over a given period of time. While ideally there will always be more cash coming in than is going out, there will inevitably be times when this is not the case and that is why managing cash flow […]