Home | Contact | Advertising
Small Business, Information, Resources, Articles - SmartBiz.com
Members Login:
Sign Up Forgot?
SALES & MARKETING
Marketing Online
Email Marketing
Search Marketing
Selling
PR
ONLINE BUSINESS
E-Commerce
Website Creation
Productivity
Accounting
CRM
Web-based Software/SaaS
BUSINESS STRATEGIES
Case Studies
Smart Answers
Videos
Podcasts
Smart Blog
Human Resources
Management
BITS & BYTES
PCs & Online Equipment
Mobile Computing
Security/Business Continuity
Telecom/Office Networks
Small Business Products
FORUMS & RESOURCES
Free White Papers
Tools and Calculators
SmartBiz Forum
Legal & Business Forms
News Feeds
Featured Webcasts & Videos
Franchise Offers


 
SMALL BUSINESS AND STARTUPS INTERNET TECHNOLOGY RESOURCES
Search SmartBiz:
Forms and
Downloads
Free
White Papers
Special
Offers
SmartBiz
Blog
Free Email
Newsletters
Accounting
Improving the Cash Flow in Your Small Business
Email ArticleEmail Article
Print ArticlePrint Article
Increase Text SizeIncrease Text Size
Decrease Text SizeDecrease Text Size
Del.icio.us
Digg This
Bookmark and Share

By Gary Barzel


8 Tips to Improving Your Cash Flow

1. Get a solid accounting system. Consider purchasing a software package, such as those offered by Quickbooks or Peachtree. You can also check out the free open source options such as GnuCash and TurboCash. These programs generally offer a full range of features, such as financial reporting, payroll management, and billing- all of which will help you to stay on top of your cash flow.

2. Create a monthly cash flow schedule. Statistics show that most small business owners shy away from using financial metrics to help them run their businesses. While some owners may not know about these tools, most people may find it difficult to give up the time or resources needed to use them and instead rely on their income statements. The problem is that many of the factors effecting cash flow, such as outstanding accounts receivable or inventory, do not show up on an income statement.

This is where a monthly cash flow schedule comes in. A cash flow schedule is specifically designed to give you a clear picture of each component of your business and how it affects your cash flow so that you can project a future cash shortage.

3. Pay attention to receivables. There are many things that you can do to boost your receivable income. First, you should set up a structured billing system so that bills are sent out on time and that late payments are accurately tracked.

You can also require customers to make an initial deposit when an order is taken, and offer small discounts to those who pay their bills quickly.

Finally, you can factor those hard to collect receivables. Not only will this give your business a quick injection of cash, the factoring company will assume responsibility for collecting the outstanding payments. This frees up precious time and resources that can be directed to other areas of your small business.

Add a Comment View Comments
Small Business Home

SmartBiz Shop
Promotional Items with Your logo
 
     
 
Smart Services
Spacer
Spacer
Spacer
Spacer
Add Your Logo Now
Spacer
Get Your Business Online
Build a Website Host Your Website Market Your Business Online
Business Form Downloads
Legal Forms Business Forms
Smart Forums
Recent Postings
Stimulus or "Pork"ulus?
Blog: How Do You Know What Insurance Is Right for Your Business?
If Layoffs Are Necessary, Protect Your Business
Blog - Do You Have Email and Internet Usage Policies in Place?
MORE
Home | Contact | Advertising
© 2017-2019 SmartBiz. All rights reserved. Privacy Statement and Terms of Service
Small Business Home | Business Tools | Online Business | Bits & Bytes | Sales & Marketing | Business Strategies | Forums & Resources
Email Marketing & HTML Email Driven By: Hosted By:   Design By:
Email Marketing
 
XML LogoRSS Logo
Receive our stories via SmartBiz XML/RSS feeds.
Include our stories on your website through SmartBiz javascript content feeds.