Cash is King ! Do you know if you are going to run out?
During these turbulent times it is vital to forecast cash to ensure you have enough to meet your obligations. During a down turn businesses tend to stretch payment terms and suppliers become more aggressive in collecting money and of course employees won't wait for wages add this to the banks getting nervous over overdrafts and cash management becomes increasingly important.
Cash forecasting doesn't have to be a onerous task if you have the right tools. We have a simple tool you can use to forecast cash which: a) Takes you opening bank balance b) Adds all your outgoings over the next 8 weeks c) Adds a forecast of income based on how customers pay and past performance d) Adds your credit facilities such as overdraft and loans The tool combines these elements and summarises your cash position now and eight weeks into the future. It will enable you to make key decisions on your cash flow for example if you know you are going to run out of cash in 21days then you have several options: • Hold off on paying creditors • Re-negotiate with the bank or other sources of finance • Encourage debtors to pay sooner If you don't know you are going to run out of cash you can do nothing. We can provide the tool and train you or your employees on it in one day. Click on contact us and either call us or send us an email.
Helping people in Kent build successful and profitable businesses.
Accountants should offer more than just accounting & tax services they should help you meet all the demands facing small businesses.
As Maidstone based Accountants and Business Advisers, ACCSYS have the experience and tools to help. Whether it is cashflow, pricing, general accounting or business advice we are here to assist you.
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