August 20, 2021Uncategorized
Proper management of your debtors is essential. A well-managed pool of debtors will see debts paid faster and lessen the build-up of bad debt in your business. Without proper management, you can expect some of your customers to become large burdens on your cash flow. But management of your credit can be tough – as …
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August 13, 2021Breweries
For Craft Breweries, rolling lockdowns are sink or swim. Adapt quickly and you’ll survive and in some cases; thrive. But, for those that didn’t shift while the world changed around them… ‘ice-berg ahead!’ If on-premise was your sole source of revenue (bars, clubs, and restaurants) and you failed to have a plan B, you missed …
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August 12, 2021Inventory
Scrutinizing your business with a fine-tooth comb to identify unnecessary costs is a key step when it comes to improving your profitability. But one area that is often overlooked is inventory. There are plenty of improvements businesses can make when it comes to cutting inventory costs, and many strategies you can implement today to put …
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August 9, 2021Uncategorized
Throughout the lockdowns, coffee roasters have taken a hit. Some creative roasters have been able to figure out a way to thrive during these events. While Australia’s coffee scene is one of the strongest in the world and is recovering faster than most, things aren’t quite as stable as they once were. In this climate, …
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August 2, 2021Invoicing , Late Payments
A powerful addition to your collections toolkit is having a demand letter. This comes into play when you have tried everything to receive a payment from your customer/s. A letter of demand, also known as a dunning letter or debt collection letter, helps your B2B customers know that there are consequences for paying you late. …
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You need to track more than just revenue when it comes to building a healthy cash flow business. The reality is, that revenue reports can lie, even unintentionally. Yes, it shows you how many customers you have and how much they spend with you each month, but it really doesn’t show investors how much cash …
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July 26, 2021Cash Flow , Late Payments
In industries, such as wholesale and distribution, credit is seen as a necessity when doing business. Credit offers you a way to sell more to your customers and grow faster. However, sending out goods before receiving payment has its risks. It leaves you open to late payments, and in some cases, no payment at all. …
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July 20, 2021Breweries
Essential Tips on De-risking Your Brewery For Future Uncertainties Working with breweries all around Australia before and after COVID-19, we have first hand knowledge of the pitfalls of having all of your eggs in one basket. From dealing with the major supermarkets to independent bottle shops and ‘on-premise’ venues the selling of beer to the …
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July 19, 2021Cash Flow
Reviewing your supply chain risk has become one of the most important tasks to tackle in recent times due to the pandemic. Supply chain disturbances have been a common occurrence lately due to the shutdown of borders and lockdowns. This has left many businesses vulnerable and has caused a large loss of revenue for those …
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Reconciling your customers invoices is an important step in your accounting process. Not paying proper attention to this can not only cost your business revenue but also affect the relationship of those you do business with. Shockingly, a large number of small businesses and SMEs skip this step. Whether you don’t understand the importance of …
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