Need a hand managing cash flow? You’re not alone. The key is getting your invoicing right, by invoicing customers as soon as possible and using tools like Xero’s invoice reminders to move payments along.
That said, there are a few other simple rules you can apply to manage your cash flow and get your invoices paid even faster:
1. Keep your books accurate and up to date
2. Don’t be too lenient with your customers
3. Keep your accounting simple
4. Keep your business and your professional finances separate
5. Build a cash reserve
Read more on the five rules for managing small business cash flow in the Xero small business guide.
Feel free to get in touch with us for guidance on your invoicing and business cash flow.