Tag: financial mistakes

Financial mistakes should be avoided at any cost during the journey of doing business as little errors can lead to cash flow problems. It is also suggested to brush up the financial IQ for those who are not savvy in accounting. However, below are some basics to take care before it turns up to be a great mistake. Late Payments It is usual practice to put off the bills until the last minute. This applies to business owners too in both the cases - payables as well as receivables. It is good to give extended window to your clients while billing. They will appreciate such flexibility, but seriously it will cripple your cash flow. It is suggested not to give more than two weeks time to pay the invoice. For those who provide high quality services or goods, this won't be a problem. Si...