Blackburn Accounting - Cashflow Strategy No.5

Bad Debts:

These occur when clients or customers don’t pay their due accounts, going beyond the terms of credit. These are monies owed to you for services or goods already provided.

Tips:

Help avoid bad debts by reviewing the credit rating of your clients before offering extended terms.

Work with new clients to establish credit ratings and performance before entering credit arrangements.

Adopt a Debt Management Strategy to better monitor and manage accounts. This scrutiny can help prevent debts from becoming bad debts.

Take any necessary recovery as required.

Remember that you are running a business. Failure to manage or recover debts can hijack your cash flow and business success.

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"Tim has been our accountant for over 10 years and throughout that whole time, he has been very professional, trustworthy, efficient and a pleasure to work with. He has the capacity to understand complex issues and his knowledge is always up to date, providing a quality service."

Gregg Mountford Managing Director – Negotiator WA Pty Ltd

Leon Sainken

"Tim has been our accountant for the last eight years. He has an exceptional understanding of the for ever changing tax landscape which benefits all of his clients. As Tim has moved through his career we have followed, I think that’s testament to his ability!"

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Peter Shewring

"We have known Tim Blackburn since June 2007. He has been our accountant with the Glenrange Global Pty Ltd and Glenrange Enterprises refrigeration electrical engineering business and our food export business Auspies Pty Ltd to Russia."
Peter Shewring
Managing Director – Glenrange Global Pty Ltd

Peter Shewring

"During this time Tim has shown a professional aptitude to all matters of taxation and general advice for and to business, including the exporting business where there has been a high degree of complexity regarding accountancy, business strategies and taxation requirements.
From the exporting company inception, Tim travelled to Russia to facilitate Aussie Pie Pty Ltd for the compliance to both countries taxation regulations requirements.
Tim has the ability to place the customer and/or the company first, a rare commodity in today’s world."
Peter Shewring

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Cashflow Strategy No.5

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