During times of economic uncertainty, payables and receivables become a core focus of any privately owned business. The reason is simple: They govern cash flow.

Instead of trying to provide you with a mathematical or system-based approach to optimizing your cash flow, I wanted to take a step back and have a realistic discussion about your business mindset when it comes to accounts payable. I’ve called it the “Golden Rule of Payables” because we really do want others to treat us well when it comes to our receivables. If we start by doing our part in paying our bills, good things can happen. [Read more…]