Every small business has different needs and operations expectations. Managing accounts payable and accounts receivable is a balancing act that accountants perform on a daily basis. Closely monitoring and managing cash flow can help offset payments to venders and overhead expenses and allow you to focus on developing your business.
Business owners should establish habits that allow them to easily track and manage both accounts payable and receivable. Doing so can help reduce the chance of late fees and allow your business to grow more quickly. Read the infographic below from Citizens Bank for 16 different ways to manage cash flow and keep your business in check.…Continue reading