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Improve your cash flow position with these eight tips

by , 18 June 2014
When it comes to running your business, nothing feels more impossible than improving your cash flow position.

But when there are so many other factors to concentrate on, how can you possibly keep track and get the upper hand?

There's good news though. You can improve your cash flow position and it's not that difficult. Read on to discover our top eight tips to improve your cash flow position...

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How to improve cash flow, analyse your financial statements and eliminate fraud in your company…
 
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Think you can't improve your cash flow position? You can!

The Practical Accountancy Loose Leaf Service has eight fantastic tips you can use to improve your cash flow position.  According to the Loose Leaf you must:
 
Tip 1: Always follow up on debtors' payments and ensure they pay within their credit period;
Tip 2: Factor your customer book to speed up the debt collection process;
Tip 3: Never hold excessive stock levels;
Tip 4: Review your gross profit margins and ensure they're appropriate;
Tip 5: Review your operating expenses to see if you can cut down on some of them;
Tip 6: Contribute more cash or loans to the business as the business owner;
Tip 7: Communicate with your suppliers to find out if you can get maximum credit terms; and
Tip 8: Find out if you can defer the interest you owe to a later payment.
 
These tips will help you ensure you have a positive cash flow. But how can you add all of these things to your cash flow management? 
 
 
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Manage your cash flow positions with a cash flow budget

You can factor all of these controls and expenses into your cash flow budget. This will enable you to manage everything in one place and avoid cash flow problems. 
 
So ensure you have more cash flowing in than out by including these eight tips into your cash flow budget.

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