Cashflow is a KEY part of running a business, and managing this can be difficult especially when your income isn't always consistent.

So here are 5 tips that could help you manage your cashflow.

Number 1: Keep your financial records clean and tidy. Accurate and up-to-date records will provide you with a clear picture of your financial health.

Number 2: Have a proper invoicing strategy in place and don’t be too lenient with your customers. Be direct and fair without being a pushover.

Number 3: Keep your accounting simple. Use quality accounting software and, if you’re not confident with numbers, hire an accountant.

Number 4: Keep your business and your personal finances separate.

And number 5: Build a cash reserve. A cash reserve will give you the cushion you need to manage unexpected events.

#daviemach #cashflow #financialrecords #accounting

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