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Receivables & payables

Managing receivables and payables is all about getting cash in the door as fast as possible, cutting costs, and making payments as late as possible. By accelerating receivables and stretching out payables, businesses are in a much better position to control their cash flow.

An unfortunate fact of any business transactions is that customers will often postpone their sales as long as possible. Cash management, on the other hand, requires the timely collection of every sales dollar. An assertive collection program is therefore essential in managing your business’s cash balance.

Assertive collection requires:

The timing of payables is just as crucial to proper cash management as the timing of receivables; however the objective is just the opposite. Business managers should attempt to stretch out payables as long as possible without damaging the company’s credit rating. If the company’s credit rating is damaged suppliers may begin demanding prepayment which will severely damage the company’s cash flow.

Companies who are successful in avoiding this whilst stretching out their payables often do things like:

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