Good cash disciplines and credit control are fundamental requirements for any accountant. AccountingWEB has a long history of tackling cashflow management, credit control and business recovery techniques. To help members navigate the choppy economic waters ahead in 2022, this handy digest pulls together practical guidance to help you increase effectiveness across the entire cash chain.
Credit control and collections
A growing debtor book is usually the first sign of organisational weakness and the starting point for anyone looking to revive a business’s fortunes. The best approach is to build in a management framework to minimise non-payment. Find out more here:
Cost control and accounts payable
The next step in strengthening the cash position is to control the outgoings and reduce costs, but don’t take things too far, as Kevin Phillips discusses in the first article below:
Cashflow reporting and forecasting
You can’t manage cash unless you have access to sound, up-to-date numbers. These expert guides open the door to digital tools and processes that give better visibility on expenses, bank reconciliations, debtor reports and cashflow forecasts.
Crisis responses
First aid tips from turnaround experts and small business advisers.
Funding options
Furlough grants and Covid support loans helped a lot of businesses through the pandemic. But as they play out, recipients of government largesse are having to manage the secondary impacts on their reserves. Bank finance will be even harder to access if the business is struggling with repayment plans, but could invoice and asset finance or other fintech options fill that gap? Find out more here:
Insolvency decisions
Keep an eye out for further updates and guides on these vital topics over the next few months. They will all be collected here, so add this page to your browser favourites as a quick reference source.
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