My organisation deals with distribution of automobile car accessories
2007-11-22 18:12:31 · 4 answers · asked by sanjibkumarmohapatra 1 in Business & Finance ➔ Small Business
You need to have budgets and forecast so you know if you have a cash crunch and can plan for it. Keep a money market account you can store extra money in for the lean times. Pay your invoices on the last day of the terms and try to get your customers to pay you sooner. Some companies offer 2/10 net 30 to improve cash flow. Change the terms on your invoices to due in 15 days instead of net 30.
2007-11-22 18:26:34 · answer #1 · answered by shipwreck 7 · 0⤊ 0⤋
You need to appoint experienced and knowledable ( in accountancy and finance ) people.
Money management is actually keeping track of your income and expenditure ( money comes in and money goes out). It also means keeping track of credits you have given and the credits you have got and the effective costs involved in the same.
Your bankers can be of immense help in managing financial positions ( through cash credits, bills discounting etc ).
2007-11-22 18:36:07 · answer #2 · answered by Nitin G 7 · 0⤊ 0⤋
Appointing a good accountant or finance manager.
2007-11-22 18:21:37 · answer #3 · answered by Anonymous · 0⤊ 0⤋
well, one very important things for your organization is cash flow. if you can manage your cash flow well, your business will take off fast.
One of the way to help you manage cash flow is by understanding more about financing and corporate loan.
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2007-11-22 18:16:59 · answer #4 · answered by Anonymous · 0⤊ 0⤋