Help! My Cashflow is Killing Me

#AccountingAnswers:  3 tips to even out the ups and downs

Fixing cashflow problems is like dealing with the pain of a toothache.

1. Strong painkillers give immediate but temporary relief.
2. A filling or root canal can remove the problem of pain.
3. Improvement in Oral Health with prevent further decay.

In this week’s #AccountingAnswers you’ll get 3 practical step to relieve your business of the pain of cashflow, once and for all.

1. Painkiller – Chase and collect all the money that is owed to you.  Send invoices or statements out of Xero immediately or put debtor chasing on autopilot with Debtor Daddy.
2. Get a filling – Fill the hole and never let it form again by transitioning to charging for your projects upfront and collecting 100% or 50% of the payment upfront.
3. Improve Oral Health – Your throbbing pain is business feedback that you have excessive expenses.  It’s time to cut the fat, get back on the tools & embrace the frugality.  Do this and you’ll prevent further profit decay.

Each week Inspire CA brings you #AccountingAnswers.  Responses to the most important or most frequent Accounting questions we get from our community.  If you’ve got a burning question you want #AccountingAnswers to then email us on hello@inspireca.com.