Negotiate with suppliers to pay them later
If you know that you can't pay your suppliers, give them a call and attempt to arrange paying them on terms that suit your business.
Use a sweep account and earn interest
Use a bank account that automatically transfers amounts that exceed certain levels into a higher interest earning investment option at the end of each business day. On a common note, the excess cash goes into a money market funds.
How much time do you spend looking for useful tax information? Do you need all the South African taxes analysed and explained in one easy location?
Now you can have all the information in one place: The Practical Tax Loose Leaf Service.
Over 500 pages compiled by our tax
experts, comprising of:
• All the definitions and legal regulations, useful advice, exceptions to the rules that help you slip through the legislative jungle of taxes.
· Case studies and practical examples that show you what elements you should consider for your taxes to be perfect.
· Red flags you need to watch out for and the penalties you'll face if you don't respect them.
· Sample templates at your disposal, ready to be filled in, customised and printed.
You will also get free access to the accountingandtaxclub.co.za. Here you'll find questions and answers on any tax
and accounting issues. You can also ask our experts a tax
Get your copy of the Practical Tax Loose Leaf Service now.
Review your overheads and save
Inspect your overhead your overhead costs and see which costs you can eliminate or reduce in order to save money.
Keep an eye on your debtors accounts receivable
Look at which debtors take too long to pay and t of the following steps:
· Place a debtor on a stricter payment method;
· Offer early settlement discounts;
· Stop supplying debtors to avoid making further losses.
Review your stock options and save
Analyse stock turnover rate and ask yourself the following 2 questions:
· Are you holding onto your stock for too long?
· Are you stocking too much at a time when it isn't sold quick enough when sales are not high?
Use this ratio to great an answer into your as to your stock turnover rate.