Managing Cash Flow Keep your accounts payable under control.

Nov 29, 2002

Share

Managing your accounts payable effectively can significantly enhance your cash flow. Following are three tips for your accounts payable system that will improve your business's cash flow:

Take discounts whenever feasible. Saving 1 or 2 percent on an order can be significant.
If discounts aren't offered, don't pay early. There's no need to drain your cash flow unnecessarily.
Keep your suppliers informed. If you do fall behind, keep your lines of communication open with your suppliers. You can ill afford to get put on c.o.d.

Excerpted from Start Your Own Business: The Only Start-Up Guide You'll Ever Need

Want to be an BIZ Experiences Leadership Network contributor? Apply now to join.

Editor's Pick

These Brothers Started a Business to Improve an Everyday Task. They Made Their First Products in the Garage — Now They've Raised Over $100 Million.
Former Super Bowl MVP Drew Brees Reveals the 3 Core Values a Brand Must Have Before He Invests
How to Develop the Mindset for a Billion-Dollar Success, According to Raising Cane's Founder
'Be the Envy of Nerds Everywhere:' These 5 Tech Tools Make Your To-Do List Easier to Tackle
Why Retirees Have a Hidden Edge as BIZ Experiencess
AI Will Create More Millionaires in the Next 5 Years Than the Internet Did in 2 Decades, According to Nvidia's CEO

Most Popular

See all

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for BIZ Experiencess to pursue in 2025.

By Eve Gumpel

Science & Technology

OpenAI's Latest Move Is a Game Changer — Here's How Smart Solopreneurs Are Turning It Into Profit

OpenAI's latest AI tool acts like a full-time assistant, helping solopreneurs save time, find leads and grow their business without hiring.

By Ben Angel

Social Media

How To Start a Youtube Channel: Step-by-Step Guide

YouTube can be a valuable way to grow your audience. If you're ready to create content, read more about starting a business YouTube Channel.

By Jason R. Rich

Business Solutions

Boost Team Productivity and Security With Windows 11 Pro, Now $15 for Life

Ideal for BIZ Experiencess and small-business owners who are looking to streamline their PC setup.

By BIZ Experiences Store

Science & Technology

AI Isn't Plug-and-Play — You Need a Strategy. Here's Your Guide to Building One.

Don't just "add AI" — build a strategy. This guide helps founders avoid common pitfalls and create a step-by-step roadmap to harness real value from AI.

By Nicholas Leighton

Starting a Business

I Built a $20 Million Company by Age 22 While Still in College. Here's How I Did It and What I Learned Along the Way.

Wealth-building in your early twenties isn't about playing it safe; it's about exploiting the one time in life when having nothing to lose gives you everything to gain.

By Emil Barr