SPONSORED | Having clarity about your business cash flow can help your financial forecasting, says SageGroupZA.
And, unless you’re not in debt to anyone and have a negative cash flow because you’re investing in growth, you’ll have to find an alternative source of income to pay off any debts. This is not the most comfortable situation to be in. Having absolute clarity about your business cash flow can help your financial forecasting.
It’s critical to track the number of accounts payable you create and the dates they’re due so you have enough cash in the bank to pay on time.To get the most out of every rand, it can help to maximise your trade credit. This way, you get to hold onto your cash for as long as possible while not being late with payments, incurring added charges, or annoying your vendors. The secret is to strike a balance so that you use each rand to its potential.
Sage software is designed to help you streamline your business and prepare for your year-end close with ease From your marketing and advertising spend to employee expenses and petty cash — every penny counts when your cash flow’s tight.Effective inventory management is a sure-fire way to ease the strain on your finances and get some more cash flowing through the business accounts. If you have a warehouse carrying unsold stock, a new sales plan can soon help you clear the decks and create more cash liquidity.can give you the necessary visibility to stay on top of your cash flow.
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