The Ultimate Checklist for Healthy Business Cash Flow

Cash flow management is not a single action — it is a set of habits and systems that work together. Use this checklist to audit your current practices and identify where improvements will make the biggest difference.

Invoicing Habits

• Invoice the same day work is completed. Not tomorrow. Not when you get a spare moment. The same day.
• Use specific due dates, not vague terms. "Payment due by 15 April" is clearer than "Net 30."
• Send to the right person. Confirm the accounts payable contact for each client, not just the project contact.
• Include all required information. ABN/NZBN, PO number, GST details, full bank details.
• Make it easy to pay. Include payment link or clear bank transfer instructions on every invoice.

Payment Terms

• Review your standard payment terms. If you are on Net 30, test whether Net 14 works for your clients.
• Get terms agreed before work starts. Include payment terms in proposals and contracts, not just invoices.
• Include late payment provisions. Even if you rarely enforce them, they signal professionalism.
• Review terms for each client segment. Different terms can apply to different client types.

Follow-Up Process

• Send automatic reminders before and after due date. Set these up in your accounting software once and forget them.
• Follow up overdue invoices within 24 hours of due date. Early follow-up is more effective than late.
• Have a clear escalation path. Friendly reminder → direct follow-up → formal notice.
• Track your debtors ageing weekly. Know exactly what is outstanding and for how long.

Cash Flow Visibility

• Maintain a weekly cash flow forecast. Know what is coming in and going out over the next 4 weeks at minimum.
• Review your bank balance daily. This takes two minutes and keeps you close to the reality of your cash position.
• Track accounts receivable ageing weekly. Know what is due, what is overdue, and who owes what.
• Match your GST lodgment cycle to your cash flow. Quarterly GST surprises are avoidable with planning.

Supplier and Cost Management

• Review supplier payment terms annually. You may be able to negotiate better terms that ease your cash position.
• Avoid early payment of invoices unless there is a discount. Pay on time, not early.
• Review recurring subscriptions and costs quarterly. Unused subscriptions accumulate.

Funding Readiness

• Know your funding options before you need them. Understand what is available so you are not making decisions under pressure.
• Have a plan for your peak cash demand periods. Tax quarters, seasonal peaks, and growth phases are predictable — plan for them.
• Connect your accounting software to FundTap. Set it up before you need it. When a cash gap appears, you can act in hours rather than days.

Monthly Review

• Review actual vs forecast cash position. Understand where the gaps came from.
• Identify your three largest cash flow risks for next month. Knowing what to watch is half the battle.
• Update your 12-week cash flow forecast. A rolling forecast that is reviewed monthly stays useful.

Healthy cash flow is the product of consistent habits, not crisis management. Work through this checklist and pick one improvement to implement this week. Small changes compound quickly.