5 Things Smart Retailers Do to Manage Accounts Payable
- .While it may be good for your credit history, it is a bad cash flow practice to pay every bill when it arrives. Set your timing to pay bills as they come due.
- If available, use online banking bill payment schedules to manage payables to the exact due date.
- Ask for discounts from vendors for early payment and ask for longer payable terms when taking on new products or lines from current vendors.
- After a history of consistent payment, ask for longer payables terms.
- When you are willing to pay in cash, always ask for a cash discount.