Solutions

I need to smooth out cash flow fluctuations

If there’s a temporary problem with your cash flow, and you know it won’t be long until you get more funds, choose between using your credit card or an overdraft. Make sure you’ve considered the costs of each one first.

If you have a business credit card it’s tempting to use as it’s convenient, and if you use the interest free period wisely you can keep your interest costs down. But be careful not to exceed your credit limit as there’s a fee involved, and be aware you’ll be paying a higher interest rate.

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If you set up a Business Overdraft linked to your business account you’ll have easy access to extra funds. There are fees for setting up an overdraft, but you’ll pay a lower interest rate on the money.

I want to convert unpaid invoices into cash flow

Once you have established terms, rather than waiting to receive payments from credit sales, you can turn up to 80% of the value of approved invoices into working capital in under 24 hours by using our Invoice Finance.

For access to educational workshops on managing cash flow refer to Westpac Financial Education.