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4 Cash
Management Tips
for Small Businesses
Cash is the lifeblood of any
small business. Here are some tips to help ensure that your
business maintains a sufficient cash flow to meet its
financial goals and keep running efficiently:
Toughen up your credit policies - Review the payment
terms you offer to customers and tighten them up if slow
payment is a problem area for your business. For instance, how
long are customers given to pay? What action will be taken if
a payment is missed? Be sure your credit terms are
communicated effectively to customers before transactions are
entered into.
Tip #1:
Consider requiring advance payments 'at least in part' for new
customers.
Tip #2: For
many businesses, a routine credit check should be performed
before a sales or service transaction is entered into with a
new customer.
Come up with a budget -
and stick to it. Surprisingly, many small businesses do not.... (more)
For more cash management tips,
click
here or go to our
Newsletter section on our web site at
www.eSullivan.net or
call me, Paul Sullivan, at 240-316-3531.
5
Financial Planning Tips
for April 2010
Tip #1) Review Your
Retirement Plans
How much have you accumulated so far? How much do you need to
retire comfortably at the desired date? Professional advice
may be helpful in determining how much you should be saving
and what the best investment vehicles are.
Tip #2) Schedule Estimated Tax Payments
Add the estimated tax payments for the year to your calendar
so you don't overlook them later. You might want to attach the
payment vouchers to your calendar with a paperclip... (more)
For more financial planning tips,
click
here or go to our
Newsletter section on our web site at
www.eSullivan.net or
call me, Paul Sullivan, at 240-316-3531.
Call our offices if you have any
questions about these or any other accounting related issues, at 301-657-8080.
Regards, Paul Sullivan, CPA |
