Have you heard the saying “Cash is king”? 

 

Many coaches, accountants, banks, and financial experts will tell you that to survive a recession you need to protect your cashflow. According to Trustnet (https://www.trustnet.com/news/13318089/five-rules-for-resilience-in-rocky-markets–and-uk-stocks-ticking-the-boxes), “An indicator of resilience is a business’ ability to generate cash. Cash is important.”

 

Businesses have a habit of repeating old mistakes in new recessions. Here’s 3 ways an accountant can help you protect your cashflow so you don’t just survive the recession; you thrive regardless of whatever the next 18 months throws at us.

 

When you work with IJC Finance we are not just here to ensure you pay the right amount of tax and get your employee wages right. With our reports and investigative work (makes us sound like detective or spies, right? Spies into success maybe!) you can see where you are open to risk, where you are wasting money and where you could be improving things. These are obviously essential for great cashflow.

 

We can offer management accounts reports and one-off analysis projects for your business so you can decide what you’d like to focus on to help you make decisions.

 

Okay, so maybe you won’t ever enjoy giving them your money, but by working with an accountancy firm like ours you often find we can make the calls for you, saving you time (and stress) and ensuring you are paying the right amounts at the right time. We can also help you plan when and how to pay so that your cashflow is happier too.

 

If you ever have any issues with payments, HMRC would always prefer you to make contact rather than bury your head in the sand. There will often be some way to help.

 

So we made ourselves sound like spies, now imagine us as fortune tellers. Only joking. Working with a great accountancy firm ensures you spot the tell-tale signs that something is going wrong. We can spot that time of year where sales die off or where you think you are making good profit, but in actual fact it’s just high turnover and a big risk to your future. Comparing monthly, quarterly and annual figures is a good way to identify trends and a starting point for making plans for any changes you need to make.

 

There are a lot of ways we can grow your business, protect your profits and ensure whatever the next 18 months throws at you, you thrive. Get in touch to learn more.