Tips for Success by Expert Accounting
Oh, where did my cash flow go?
Did you know? Whether it be by choice or by necessity, most businesses carry account receivables.
Effective management of your receivable list will help to improve the average days to collect and free up valuable cash flow.
Below are three factors that contribute to an effective receivable management plan:
- Having clearly-defined credit policies for all to follow.
- Sending statements on a monthly basis.
- The issuing of sales commissions on paid delivered sales.
Freeing up your cash flow will generate increased profitability through savings from reduced bank charges and taking advantage of early payment discounts.
NOW is the time to ELEVATE your store’s performance and add profitability! Contact us for more details today.