In accounting, cash flow is the difference in amount of cash available at the beginning of a period(opening balance) and the amount at the end of that period (closing balance). It is called positive if the closing balance is higher than the opening balance, otherwise called negative. Cash flow is increased by (1) selling more goods or services, (2) selling an asset, (3) reducing costs, (4) increasing the selling price, (5) collecting faster, (6) paying slower, (7) bringing in more equity, or (8) taking a loan.
Read more: http://www.businessdictionary.com/definition/cash-flow
5 things the Warranty Adm. can do to help speed up cash flow in the Service Department
1.Review open repair orders weekly, are all warranty related repair orders closed daily?
2.As repair orders are submitted by the service department for submission
a. Are they signed by the customer?
b. Is the deductible collected and accounted for?
c. Are the repairs authorized by the factory?
d. Is the mechanic flagged for the correct billable hours?
3.Submit claims as part of the daily routine, what can you do to speed up the
payment process? Are claims logged as submitted for payment?
4. When claims are rejected, find out why and resubmit on the submission date.
5.Submit all denied and uncollectible claims for write-off (see the organizations guidelines for this step)