Released on = January 17, 2007, 4:50 am

Press Release Author = Onstop.co.uk

Industry = Small Business

Press Release Summary = Since good cashflow management is of paramount importance to
businesses success, Onstop.co.uk has compiled a list of tips to help companies them
manage their cashflow effectively

Press Release Body = Onstop.co.uk was set up to help businesses facing cashflow
problems as a result of late payments. It recognised the fact that the majority of
small businesses who get into debt in their first year do so because their customers
do not pay them on time.

Onstop helps its members to encourage prompt payment and where necessary intervenes
on their behalf to chase unpaid bills.

Since good cashflow management is of paramount importance to businesses success, the
organisation has compiled a list of tips to help companies manage their cashflow
effectively


1. Ensure that you track your income and expenditure carefully. This will enable you
to see easily who owes you money, and whether you are spending more than you can
afford to. Keeping an invoice book and records of payments will help you to do this
and they can be set up simply on an Excel spreadsheet.

2. Budgeting carefully is essential. This will ensure that you do not spend more
than you can afford to.

3. Customers that pay promptly are like gold dust! Try and build a good relationship
with such businesses. After all, it is much easier to look after an existing client
than to find a new one!

4. Do you know what your break even point is? A break even point is the point at
which your income and expenditure are balanced. In other words, if your income is
higher than your expenditure you are in profit. If it is lower than your expenditure
you will be making a loss.

5. Although it might seem sensible to do so it is not advisable to pay your bills
before they are due. However, do pay them on time in order to preserve your good
reputation and to enable you to negotiate good payment terms.


Web Site = http://www.onstop.co.uk/cashflow-management.htm

Contact Details = OnStop Limited
Enterprise Way
Airedale Business Park
Keighley Road
Skipton
United Kingdom
BD23 2TZ

0115 976 3646