Help! cashflow is killing me
#AccountingAnswers: 3 tips to even out the ups and downs
Fixing cashflow problems is like dealing with the pain of a toothache.
- Strong painkillers give immediate but temporary relief.
- A filling or root canal can remove the problem of pain.
- Improvement in Oral Health with prevent further decay.
In this week’s #AccountingAnswers you’ll get 3 practical step to relieve your business of the pain of cashflow, once and for all.
- Painkiller – Chase and collect all the money that is owed to you. Send invoices or statements out of Xero immediately or put debtor chasing on autopilot with Debtor Daddy.
- Get a filling – Fill the hole and never let it form again by transitioning to charging for your projects upfront and collecting 100% or 50% of the payment upfront.
- Improve Oral Health – Your throbbing pain is business feedback that you have excessive expenses. It’s time to cut the fat, get back on the tools & embrace the frugality. Do this and you’ll prevent further profit decay.
Each week Inspire CA brings you #AccountingAnswers. Responses to the most important or most frequent Accounting questions we get from our community. If you’ve got a burning question you want #AccountingAnswers to then email us on firstname.lastname@example.org.