Managing Cash Flow

Keep your accounts payable under control.
1 min read
Opinions expressed by Entrepreneur contributors are their own.

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:

  1. Take discounts whenever feasible. Saving 1 or 2 percent on an order can be significant.
  2. If discounts aren't offered, don't pay early. There's no need to drain your cash flow unnecessarily.
  3. 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

More from Entrepreneur

Learn to be a better leader and develop successful marketing and branding strategies with Dr. Patti Fletcher's help.
Book Your Session

In as little as seven months, the Entrepreneur Authors program will turn your ideas and expertise into a professionally presented book.
Apply Now

Are paying too much for business insurance? Do you have critical gaps in your coverage? Trust Entrepreneur to help you find out.
Get Your Quote Now

Latest on Entrepreneur

My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.