For many businesses the summer season can bring about a change in pace—whether it's a dip in demand due to holidays, delayed receipts or increased costs. These seasonal fluctuations can pose a challenge for cashflow management. At BookCheck, because we have worked for over 30 years with hundreds of businesses on their book-keeping with management information, we understand how vital it is to stay on top of finances all year round—especially during the quieter months.
Here’s how to stay in control and make summer work for your cashflow rather than against it.
Why Summer Can Disrupt Your Cashflow
Depending on your industry, summer might mean:
- Slower customer response times and delayed payments
- A dip in revenue from customers who are on holiday
- Increased costs such as covering staff absences
- Disruption to regular billing or admin processes
Without a solid plan in place, these challenges can quickly create pressure on your cash reserves.
Five Practical Ways to Manage Cashflow During the Summer
1. Track Income and Expenses Weekly
Don’t rely on memory or end-of-month surprises. Track all your incoming and outgoing funds on a weekly basis during summer. Use cloud-based accounting software like Xero, paired with outsourced book-keeping support (like ours at BookCheck), to get real-time data and insights.
2. Monitor Your Bank Balance Daily
A regular check-in with your bank balance helps spot problems before they escalate. If you’re operating with a tight buffer, this daily habit can be your early-warning system for any upcoming shortfalls.
3. Review and Adjust Your Budget
Take a look at your summer-specific budget. Are you factoring in lower receipts? Do you have a realistic plan for temporary or seasonal costs? Now’s the time to adjust your spending plans and trim non-essential expenses.
4. Invoice Promptly and Follow Up Quickly
Ensure invoices are sent as soon as possible and don’t delay in chasing overdue payments. Consider using automated invoice reminders which software like Xero facilitates and ensure your payment terms are clear.
5. Create a Cash Buffer or Access to Credit
If possible, build up a reserve before summer hits—or set up access to a business overdraft or credit facility. This safety net can keep things running smoothly if revenue dips unexpectedly.
Plan Ahead for a Stronger Autumn
Use a summer slowdown to forecast future cashflow needs and review your broader financial strategy. At BookCheck, we provide integrated book-keeping and management accounts, providing clear visibility of your numbers and helping you plan ahead with confidence.
Need Help Managing Cashflow This Summer?
Get in touch with BookCheck to see how our expert team can support your business with proactive, professional book-keeping and financial clarity—even during the trickiest seasonal periods.
Contact us today to find out more.