Blackburn Accounting - Cashflow Strategy No.18

Top Tip: accelerate your accounts receivable and combine it with a quarterly cashflow forecast to monitor performance.

Simply put, get paid faster by invoicing sooner, shortening payment terms and tracking incoming money to help it flow and stop it from getting trapped.

Try these proven tactics:

Tighten creditors' payment terms. Ideally, get upfront payment or timely 7-day or 14-day terms. Aim to avoid 30-day credit.

Generate Invoices asap. Speed up the process and send invoices once the job is finished or the goods are shipped or delivered.

Stretch your accounts payable. Hold onto your cash as long as possible; pay on the due date, not before.

Audit overheads. Look to trim if possible. Monitor utilities, efficiency and usage; check regular expenses, stationery supplies, and motor vehicle expenses.

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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.18

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