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7 ways an epic invoice process will maximise business cash...

In our recent survey of how coronavirus had impacted Kent’s businesses, 36% of respondents had no ‘emergency’ funds set aside at all, and 29% had some but not enough. One of the reasons to not have enough in the bank is that your money is tied up in other people’s bank accounts. Definitely less than ideal!

It seems obvious to say it, but if you’ve earned the money, you should have it as soon as you’re entitled to it. Events outside of your control, like a global pandemic, can create their own restrictions, so don’t add to it by letting customers hang on a second longer than is necessary.

So here are seven ways to maximise your cash in bank:

1. Agreeing terms and conditions that work for both sides
2. Understanding each customer’s accounts process
3. Don’t have ‘an invoicing day’
4. Send invoices to the accounts team, not the customer
5. Make sure invoices have all the required information
6. Follow up on sent invoices
7. Keep an eye on your bank balance

Find out more:

www.bluerocketaccounting.com/news/7-ways-an-epic-invoice-process-will-maximise-business-cash
By Miguel Calabrese from Blue Rocket Accounting, 2 weeks ago.

There’s several other, more effective ways to improve your cash flow, have a look at the Blogs on www.emcassociates.com

The first of which is to put all your customers on Electronic payments, to save several excuses like ‘It’s in the post” or “l can’t find a Director to sign the cheque”

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