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Best practice accounts receivable management - Part two

By The Skippr Team on 30 July 2019

As we discussed in part-one, while delayed payment on accounts payable is often accepted among the business community as a fact of life, it can have serious ramifications on small businesses.

Best practice accounts receivable management - Part one

By The Skippr Team on 16 July 2019

Managing working capital and ensuring that you have access to cash when you need it is a critical part of being a business owner. However, according to Xero Small Business Insights, only 52 per cent of Australian small businesses were cash flow positive in April 2019.

12 Merry Tips To Get Your Small Business Ready For Christmas

By Ben Leckie on 1 November 2017

Christmas in Australia is a joyous time of year hallmarked by great weather, school holidays and family time. Many small businesses see their sales skyrocket at the end of the calendar year, but for some the festive season is marred by huge disruptions to your businesses cash flow. 

What do you need to do prepare your business for the festive season?

Hear from  business gurus - Andrew Van De Beek from Illumin8 Accounting, Sam Musgrave from Nine Advisory, David Boyar from Sequel CFO and Troy Townley from HTA Advisory - who have shared their 12 merry tips that will get your small business ready for christmas.

Is your business a bank? The curse of long payment terms in Australia

By Patrick Crivelli on 26 October 2016

 How many banks are operating in Australia? You’re probably thinking there are at most 20 banks. You would be very wrong. There are actually thousands, possibly hundreds of thousands of banks in Australia. ‘How is this so?’ I hear you ask. Well, every time your customer makes you wait for an invoice payment, you have effectively become a banker - presumably without the six-figure bonus or Ferrari.

Long payment terms - How does Australia compare to the rest of the world?

By The Skippr Team on 23 August 2016

 

New-Age Cash Flow Forecasting Methods for Bookkeepers

By Patrick Crivelli on 3 August 2016

“Everybody has a plan until they get punched in the face.” - Mike Tyson

Have you ever noticed how your budgeted projections don't look anything like your historical numbers? Projections tend to resemble a calm blue ocean however historical numbers look more like a tumultuous pot of troubled energy. The world is a volatile place, especially for small businesses. Despite this, we have a tendency to create smooth forecasts that rarely reflect reality. This is partly why SMEs frequently get blindsided by cash flow problems.

5 simple rules for how to do a cash flow forecast for small business

By The Skippr Team on 26 May 2016

Having foresight over your monthly cash flow statement is critical to the survival and success of your business. Every business owner should be asking the following questions to best understand how to do a cash flow forecast for their small business:

"Can we pay our employees at the end of month?"

"Do we have the cash to pay PAYG and GST at the end of the month?"

"Can we afford to take on this big new customer?"

"Can we get prices if we pay suppliers earlier?"

3 ways to control small business cash flow

By Patrick Crivelli on 25 February 2016

“A rising tide floats all boats but it’s only when the tide goes out that we can see who was swimming naked”  - Warren Buffett