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
Entrepreneur Select: A Fund For Entrepreneurs, By Entrepreneurs

Entrepreneurs require more than just money, which is why we aim to empower you, as well as act as a catalyst for value creation.

Use code MARKET2021 through 4/24/21 to save on 12 marketing books for entrepreneurs that are recommended by entrepreneurs:
  • Digital Marketing Handbook
  • No B.S. Guide to Direct Response Social Media Marketing
  • Ultimate Guide to Youtube for Business
  • And more
Make sure you’re covered for physical injuries or property damage that occur at work by
  • Providing us with basic information about your business
  • Verifying details about your business with one of our specialists
  • Speaking with an agent who is specifically suited to insure your business

Latest on Entrepreneur