Cash is King! So long live the King!

Small businesses often confuse cash with profit. The two are very different animals, a lack of cash will bring about a company’s demise far quicker than a lack of profit.

A lack of cash in what appears to be an otherwise successful profitable business is usually down to poor cash management. Payment terms offered to suppliers may be very short, to take advantage of discounts, but customers may be very slow to pay, with many having to be chased.

An efficient cash management policy will dramatically increase the efficiency of your business:
       You will reduce time spent chasing payment
       Supplier accounts will not go on stop because you can’t pay on time
       The saved time can be used on other more productive tasks
       Your bank manager will be happier

You will be happier! The stress that comes with the constant battle of chasing cash will recede and you can focus on doing what you do best – developing your business.

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About Mark Telford

I run a small vibrant accountancy practice. We're growing rapidly by offering clients a top class personalised service. There is no one size fits all approach at Telford Associates, we provide services tailored to our clients and develop these based on our understanding of their business and their personal needs and aspirations. We stay in regular contact with our clients all through the year, not just popping up at the year end to complete the accounts and tax returns. If you're fed up with a poor service or high fees from your accountant, who never returns e-mails or phone calls, please get in touch. I'm confident we can provide you with the service you deserve.
This entry was posted in accountant, accounts, bank, business support, cash flow, finance and tagged , , , , , , , , . Bookmark the permalink.

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