Most business owners see growth as a solution to the cash flow problem. That is why they have ambitions to develop the business without knowing that the ambitions actually increase the cash flow problem. To prevent this from happening, plan and manage cash income and expenses using the services of an accountant at https://lokalerevisorer.dk/ who are experts in accounting and financial reports so that it does not “surprise” your business going forward.
Simply put, you only need to answer these two important questions:
- What is the condition of your business cash balance now?
- What do you expect from the value of the cash balance that will occur over the next 6 months?
If you cannot answer both of these questions, then your business cannot control Cash Flow properly. Following are practical steps to better manage Cash Flow, especially for growing businesses:
Sometimes, business uncollectible accounts can swell. And that is not effective for your business cash income. Ask customers to pre-authorize checks so that banks can withdraw cash from their accounts at predetermined time intervals. You can also use the Invoice Reminder feature from your accountant to remind customers about paying off receivables automatically. You can also try …Continue reading