Steps To Improving Cash Flow
Cash flow is always important to keep a business running. Frequently, there is a push for sales but not an equal emphasis on collection. Managing a business requires that Sales personnel are fully aware of non-collections.
As the economy declines, receivables take longer to collect and your suppliers demand their payments more quickly, Here is a financial health checklist to help your considerations:
- Time from Order to completion is timely
- Are Bills Generated Immediately upon completion
- Are Bills complete and accurate
- Do prices reflect costs and work performed
- Can part of the work be efficiently outsourced
- Bank loan terms are competitive
- Price and Terms are appropriate
Discuss It Today With A Tax Attorney
These items should be discussed with your tax and business attorney. Call Ronald J. Cappuccio, J.D., LL.M. (Tax) in Cherry Hill at 856-745-4330 or send an email to get started.