Effective cash flow management is crucial for SMEs to ensure business stability, growth and resilience against unexpected financial challenges. So with a new year ahead here are some useful steps to consider when considering cash flow: 1. Create a cash flow forecast Creating a detailed forecast allows cash inflows and outflows to be predicted over […]
Purchase orders (POs or PORs) often fulfil a key part of the procurement process, but they’re not used routinely by all organisations and there’s no obligation from an accounting perspective to have them – or is there?
With an uncertain economic outlook, it’s a great time to get on top of company finances and refocus on your budget plans. But where do you start with budgeting and what should you look out for? Our handy 3 step guide will help you plan and execute your budget and stay on top of your finances.
At a basic level, a cashflow statement details the movements of money in and out of a business over a defined period. The cashflow statement enables you to monitor bank balances, allocate reserves, manage investments and plan significant procurement.
Whether physical ‘hard cash’ or merely digital numbers moving between bank accounts, cash is king and therefore good credit control is the first step to maintaining good cash flow in your business. Since 1967 we’ve helped hundreds of businesses to establish themselves and grow and so we know the best ways to manage credit control […]
Are your credit terms stopping you chasing outstanding sales invoices? It may seem obvious to reiterate the importance of chasing outstanding sales invoices, but how many companies can say, hand on heart, that they do chase them religiously and how many businesses can claim that they get 100% of invoices settled within their normal credit […]