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Improving Cash Flow

Improving your cash flow can be difficult but something every business should try to organise. With the help of our team and the proper tools at your disposal, improving your cash flow is a doable task and something you must invest time into.
Roger Hatherall & Co can work with all businesses throughout the Bath area, ensuring you have the assistance to improve your cash flow. We can provide the right advice and services you need to be successful.

Build Your Forecast

Building your cash flow forecast will give you the information you need to see what cash flow you expect to get and why you are not reaching these projections. The best way to improve your cash flow is by having a good analysis of your current one and seeking ways to improve on these finances.

Whether costs are too high or revenue is too low, having the information will allow you to easily view and monitor the problem before making changes within your business. It can allow you to cut down on unnecessary payments and transactions or motivate staff members to work harder, keeping a healthy profit margin that poses no risk to your company.

Send Invoices Instantly

To avoid any complications with your revenue and save yourself money, sending invoices out immediately should become routine. Keeping your invoices and making sure customers have received invoices instantly will reduce many problems within your business that could stem from the loss of customer receipts or unclarified payments.

If there are any issues with customer payments further down the line, invoices will always prove the money given to your business or money needs to be received from your customers. Keeping your invoices being received quickly ensures money is paid to your business and you are never at risk of cash flow becoming negative even if this is just for a day, week or month.

This will also ensure that receivables come in quicker. This monitors all debts that are owed to your company and having your invoices stored will help with this.

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Stop One-Off Payments

Although you may see items that seem like essentials, many of the one-off payments that you make will not be necessary. You should always be looking to reduce your costs in some areas of your business. Many ongoing costs such as rent and hiring equipment will often be needed but small or large payments you make for a one-off basis must always be managed.

Before making this purchase, think whether you really need the item you are investing in and whether it is worth the money. If your cash flow is not in a good condition, these payments could be postponed to a future date for the success of your business, even if the item is important.

Motivate Staff

Even if your staff are already on good pay, offering some fun rewards or incentives will only increase the productivity in your workplace. By having staff rewards on a regular basis that don t waste too much of your budget, staff will be more motivated to work which will increase your overall revenue through your sale or services.

If staff are working harder, your cash flow will be easily improved, outweighing any extra costs that may have come from purchasing the rewards. This could also give you the opportunity to revaluate the pricing within your business. If you want staff members to sell, creating deals and cheaper prices could help staff members create more money.

Use Accountants

Using computerised accounting systems, accountants can be the easiest option for businesses to effectively improve their cash flow. Our team at Roger Hatherall & Co can provide all the services you need to ensure you budget effectively and seek ways to improve your revenue for an all-around better cash flow.

Outsourcing to accountants also saves you a lot of time, allowing you to focus on your business whilst we monitor all financial information and your cash flow performance.