7 Ways to Improve Your Cashflow

By Fiona O’Farrell ACA, of Anne Brady McQuillans DFK

• Issue sales invoices as soon as goods/services provided
• Offer incentives for speedy payment of debtors
• Take full advantage of 30 days creditors period
• Keep costs to a minimum – shop around to get best value for money, but beware, the cheapest quote may cost more in the long run!
• Keep stock/WIP levels to a minimum while still being able to satisfy customers
• Sell off old/slow moving stock – this can be taking up space that can be filled with more profitable stock
• Ensure timely, accurate and relevant financial information is readily available – often how you think the company is doing and the reality are 2 very different matters!

 If you would like further information, please contact Fiona on 01 4786600 or email her on fofarrell@annebrady.ie