Money Matters! Buckinghamshire Accountants say!

5 Tips for managing your bank balance

1. Always important to review your outgoings outgoings regularly.  Classify the expenditure as either necessary, discretionary or luxury. Needless to say “luxurious” expenditure should be minimalised.
2. Consider paying off high interest debt first, to save ever increasing interest cost.
3. Improve your credit control and customer  vetting purpose. To ensure extended credit terms are not granted.
4. Check the credit worthiness of your customers , to see if these are the type of corporates  you can do with business.
5. Prepare a cashflow forecast and develop action plans for countering cash crunches.  I.e. you need to be aware as a business you will have Tax to pay, Business owners often dont put sufficient funds aside for this purpose. So be aware of all non trading cash outgoings! AGA Accountants, can advise in this repsect.

” Money matters in difficult economic times and we need to have strategies and tactics in place to ensure we are not short of it and can maximise it “

Whats next

Changing accountants is a straightforward process. Leave it to us. We will explain the process.

Contact us to arrange a free consultation with our Managing Director Ahmed Ali ACA FCCA. Contact: 01296 761 516 or 0203 389 9588.