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5 Common Cash-Flow Mistakes and How to Avoid Making Them

Submitted by Marijuana News on Tue, 07/21/2015 - 08:45

These big blunders will leave you in a cash crunch. But money management doesn't have to be difficult

hen Susan Rohac assesses the creditworthiness of a prospective corporate borrower, it’s not uncommon for her to see an unpaid bill or two from four months ago. It’s usually from an untidy payable account. But not always. This time it was a 120-day-old receivable and the client on the hook was the owner’s friend.

“Oh, I know him very well,” the entrepreneur told Rohac, the senior vice president of financing and consulting at BDC in Ontario. “He’s going to pay.”

That decision might be good for their friendship, Rohac says, but it’s bad cash-flow management. And that can be deadly for a business. “That kind of blasé attitude is costing a lot of money,” she adds. That’s because every dollar in receivables is a dollar that either could have been earning interest...

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http://www.profitguide.com/small-business/5-common-cash-flow-mistakes-and-how-to-avoid-making-them-85541

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