Xero has grown exponentially over the past few years. The New Zealand company has become a strong contender for Quickbooks and now boasts 3 million subscribers. One of the features that continually draws new users is the ease of setting payment terms in Xero. Whether your business requires...
Some industries, such as retail and food service, operate primarily on a payment at the time of service basis. However, most business-to-business transactions are made on credit. This means goods or services are delivered before payment is received. Accounts receivable is how businesses tr...
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...
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 ...
Building business relationships is a skill that successful business people need to have. The e-commerce revolution over the last 10 years has altered the way B2C relationships are built, with drip campaigns, EDM and SMS blasts replacing human interaction. B2B is different. The relationship...
When buyers purchase goods on trade accounts there is always a risk that buyers will take their stock and run. This is called supplier hopping. The way it works is: A buyer signs up with a supplier and orders some stock on credit. The stock is delivered and an invoice is raised. The buyer ...
Can you locate your credit applications? Does this sound like you? You give your customers payment terms or trade credit. Part of the process is for a buyer to complete a credit application. Your credit application is in PDF or paper form. You send it off to new buyers in the hope that it ...
Victorian small businesses had a false start last week. Shop owners everywhere tried to make the best of a bad situation, big orders were placed with suppliers and storerooms were stocked. Let’s stop for a moment. You have tens of thousands of small businesses that have been closed, or r...
“Cash is king” is an overused expression, but it is a saying that is true and vital to a small business’s survival. One of the main reasons why small businesses fail is due to the poor management of cash flow. So here we have listed 5 rules for you to follow. These rules will make [&...
