Leading CPA Keith Huggett Reveals How Accountants Are Helping Small Businesses Improve Their Cash Flow – Roseville, CA

Accountant Keith Huggett, founder of Next Level Accounting & Tax, in Roseville, CA, has just revealed how an accountant can help a small business owner increase their cash flow. For more information please visit http://nlati.com

Roseville CA, United States – May 30, 2018 /MM-REB/ —

In a recent interview CPA Keith Huggett, founder of Next Level Accounting & Tax, in Roseville, CA, was asked to give some examples surrounding how accountants can play a role in helping small businesses increase cash flow.

For more information please visit http://nlati.com/

When asked to comment, Huggett said, “Accountants can be a critical piece of the puzzle in solving cash flow problems, which is something experienced by nearly every business owner. Accountants offer several services and practical help to improve cash flow.”

One essential service that accountants offer small business owners is by predicting cash flow.

When asked about the benefits of this, Huggett said, “An experienced accountant can create a cash flow forecast that is tailored to any small business. The forecast is used as one of the most important tools in identifying current and problematic cash flow areas.”

He added that professional accountants could use this information from the forecast to craft an action plan, which will ultimately help business owners improve their cash flow management.

“The information and practical advice that we are able to provide from cash flow forecasts allow small business owners to make better immediate and long-term decisions about their business,” he commented.

Another way that accountants can help improve cash flow, according to Huggett, is by setting up a payment scheme, particularly for suppliers.

“For instance, a small business owner might take out a line of credit in order to immediately pay a supplier, limiting cash flow. The owner could instead wait the normal 60 to 90-day period to pay suppliers, giving them enough time to make money from receivables,” he added.

However, Huggett added, some suppliers offer early payment incentives, which could prove beneficial to improving cash flow.

“A professional CPA can weigh the pros and cons of whether or not to pay suppliers early or on time and advise their clients accordingly,” he said.

Accountants also advise small business owners how to price their products to ensure smooth cash flow.

When asked to elaborate, Huggett said, “In my experience, business owners can often be reluctant to increase the prices of their products to mirror market conditions. Often, they are afraid that they will lose customers if they increase prices.”

“But customers expect price hikes. Accountants work alongside small businesses to gradually raise prices to avoid steep increases, which could make customers unhappy,” he added.

Source: http://RecommendedExperts.biz

Contact Info:
Name: Keith Hugget
Organization: Next Level Accounting
Address: 983 Reserve Dr, Roseville, CA 95678, USA
Phone: +1 916-960-9800

For more information, please visit http://nlati.com

Source: MM-REB

Release ID: 353086