Cash Flow No Room For Error In Current Climate Say Xero
Xero is so valuable to many businesses because it is a very easy to use online accounting package that will give small businesses up-to-date financial information in an easy to understand format.
England, UK, July 09, 2008 -- With the current economic climate bringing major uncertainty to many businesses, Hamish Edwards, founder and UK MD of online accounting software product Xero (http://www.xero.com), is urging all small businesses to do one thing: get on top of the cash flow.
Edwards, who is an experienced chartered accountant, says the key to surviving a downturn is maintaining cash flow.
“The impact of rising interest rates and fuel prices, combined with uncertainty, means things are getting tighter for lots of small business,” he says. “Now it’s more important than ever to understand your business cash requirements and plan for them.”
Edwards says a solid cash flow forecast is critical. Other good practices include improving internal accounting functions, focusing on debt collection, ensuring good stock management and putting in place a taxation forecasting and a saving scheme.
“There is really no excuse for not being on top of this, no matter who you are. Xero is so valuable to many businesses because it is a very easy to use online accounting package that will give small businesses up-to-date financial information in an easy to understand format.”
Finally, Edwards says, if you are in trouble don’t leave it too long to call in an accountant.
Xero provides small businesses and their advisers with one, up to date, easy to use, instantly accessible set of accounts and business information.
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Contacts:
Lucy Whittington
Xero
England, UK
0800 085 3719
ukpress@xero.com
https://www.xero.com
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