Manage Debts to Protect Bottom Line

Paying your company debts is just as important as collecting your own accounts receivable and they need just as much management.

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The good thing is, you actually have a surprising amount of control over how and when your company's debts are paid and that provides several advantages.

First, adopt good internal controls for the payment of your bills, so you need to reconcile both:

Once you have those controls working, here are a few ways to effectively manage your company's debts to maximize your cash flow:

And of course, use your suppliers to help finance their purchases, as well as freeing up some operating capital, by taking advantage of favorable payment terms to temporarily free up cash.

The more business you give to suppliers, the better the payment terms you should obtain. The goal is to widen the spread between sales revenue and payments, allowing you to maximize the business's cash balances at very low cost. To that end:

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