How to manage Cash Flow in Small Business?
Some companies carefully monitor and manage cash flow, and as a result are more successful in the long run. Here are some tips for managing cash flow that will keep your company running in a profitable way. Micromanage Your Accounts Receivable All the sales and services around the globe are valueless if your customers do not pay for them. Ensure that you have a firm plan in place for pricing, invoicing, and ultimately collecting payment for sales or services rendered. If your business contracts work to clients consider requiring a down payment; this will allow you to start work, while the client funds the start of the project. As well, you must consider requiring payment in full upon completion of a sale or service, rather than allowing too much latitude for payments. This will accelerate payments to your company, and leave you in a better position to deal with your accounts payable, and make it easier to find out your