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Managing cash flow

Once you have collected the funds necessary to grow your business, you need to make sure that you manage them wisely. It’s important to keep regular checks on your cash flow by undertaking cash flow projections. These may be done on a monthly or yearly basis (or as per the specific needs of your company).

When projecting your cash flow, you need to make sure that you have adequate cash in hand every month to repay any loan instalments for the next month. If you have too little, you may want to rethink your business plan or profit-generation strategies to generate more cash; if there’s too much then you need to think about whether your loan amount is too high or whether some of the excess cash should be re-invested for further growth.

You can optimise your cash flow management ability by ensuring loans are secure, collecting accounts receivables in a timely manner, making your credit requirements easier, focusing on increasing your sales figures and devising optimum product pricing structures.

Undertaking a detailed analysis into your financial projections can help you plan your budget more effectively, allowing you to review and revise your business plan and ensure you are meeting all goals and objectives. It is always a good idea to call in the help of a financial expert – many accounting firms offer professional cash flow management services which can save you a lot of time, money and future problems.

FREE CONFIDENTIAL DISCUSSION
Understanding a person’s financial situation is the first step to resolving their problems and achieving their goals. All new business clients looking to speak face-to-face with an accounting professional are offered an initial consultation at Pluta Accountants with the first hour at no charge. Businesses who wish to take advantage of a confidential discussion are encouraged to call 07 3379 8185 today.

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You can contact us at anytime at the following;

Office Location
858 Oxley Road
CORINDA QLD 4075

Mailing Address
PO BOX 114
MT OMMANEY QLD 4074

Phone: 07 3379 8185
Fax: 07 3379 9845
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