A healthy cash flow is vital for a successful business and Sage 50cloud Accounts has some great features to help with that. But every little helps as they say, so we've pulled together some quick tips you can try straight away. It all adds up...
Quickly check what's coming in...
When you're planning purchases for your business, whether it's tomorrow, next week or next month, you need to know what income you're expecting in. Simply run the Outstanding Customer Invoices By Due Date report for the period you're interested in to see what's due in.
And what's due out...
You don't want to pay your bills too early when your money could be working for your business. Use the Outstanding Supplier Invoices By Due Date report to see what supplier invoices are due and when, to make sure you're paying the right people at the right time.
Check for invoices not sent
Avoid delayed customer payments and queries over missing invoices by regularly checking all invoices have been sent. You can run a quick check in just a few clicks to pick up anything you've missed.
Make paying you as easy as it can be
A good way to encourage your customers to pay on time is to make it clear how and when they should pay you. To help with this it's easy to add your terms and payment method information, such as bank details, to the invoices you issue.
If you accept card or PayPal payments why not go one step further with a Pay Now button on invoices, or make it easier all round with Direct Debit.
With these tips, hopefully managing your cash flow will be easier, giving you extra available cash to expand your business. For further help and tips, why not visit our Sage 50cloud Accounts Help Centre.