Your small or medium sized business can suffer quickly, with long-lasting repercussions, if even one payment is missed. Your cash flow depends on a steady stream of reliable payments from your clients. How do you know when it’s time to hire a collection agency to deal with your outstanding invoices, and what sorts of things should you be doing before that step is even considered? You have legitimate receivables that need to be collected for the sake of your company’s financial health, and a collection agency is a great option when you can no longer do it yourself. (more…)
Whether it’s the seasonal ebb of low cash flow, or a more pressing problem that is weighing on your business, money crunches are tough for everyone involved. Your debts may be too high to correct, or your margins too low. Perhaps it’s your current sales volume. More than a need to simply chase invoices and offer incentives to entice prompt payments, these times of negative cash flow are more complicated and more detrimental to the health of your company. And cash flow management is as important as liquidity. (more…)
Did you know that a quarter of business failures are due to an interruption to cash flow? 40% of small-to-medium sized business owners say they would stop doing business with customers who paid late, while 90% said they would pay their own suppliers on time if their customers paid bills by the due date.(more…)
Invoicing is a task that can feel tedious and perhaps seem so straightforward as to not need a lot of attention. After all, it’s a standard task, and everyone has to do it, no matter how cumbersome. What’s the big deal, you might wonder. But businesses of all sizes need to understand how crucial this piece of operations really is, especially in terms of positive cash flow.(more…)
Tax season isn’t over yet! 2019 still has some deadlines to hit, so make sure you know how to keep your accounting compliant.
From small family-run businesses to large multinational corporations, everyone needs to follow the same sets of rules. This also means that within every level of business, the tax and finance professionals involved are all expected to understand and apply rules and regulations that can be confusing and complicated. (more…)
Feeling overwhelmed with financial and accounting tasks? Have you ever wondered when it’s time to outsource some of your bookkeeping?
As a small business owner, one of the most important decisions you can make is whether to keep your accounting in-house, or to outsource it to a specialist. (more…)