Hey everyone, I’m a contractor running a small business and I’ve been having some trouble keeping up with cash flow. Do any of you have some straightforward tips or practices that could help, maybe even something about scheduling payments or balancing out expenses? I’d appreciate any advice or even software suggestions that have made a difference for you.
i keep things simple by lining up my invoicing dates with project milestones and sending reminders right after finishing a job. i also use an invoicing app to track everything in one spot which helps avoid any unexpected gaps in payments.
I try sticking to a regular invoicing schedule and setting aside a reserve. It helps to know when to expect cash and plan spending accordingly. I also check my bank flow weekly to catch any surprises. How do others manage this?
I tighten cash flow by clearly setting payment dates with clients from the start and sticking to them. I also check my bank each week and follow up on overdue invoices immediately. I schedule invoicing to line up with project progress so nothing gets overlooked. A good invoicing tool on my phone really helps keep cash coming in on time, especially on busy job sites.