In the News: Accounts Receivable Best Practices That Boost Cash Flow
Accounts Receivable Best Practices That Boost Cash Flow
Successful businesses do many things well. But few succeed without following best practices for accounts receivable.
Late payments wreak havoc on cash flow and can affect a business’s ability to pay its own bills, receive financing, and survive for the long term.
“It’s important to pay very close attention to your accounts receivable,” says Robert Morlot, managing partner with Tampa consulting firm Clearwater Business Advisers. “It helps you reduce your financing costs, which in turn can make it easier to expand your business. You have a lot more flexibility when you have that free cash flow.”