Late payments damage vendor relationships, incur fees, and can trigger cash flow problems.
Centralize Your System
Enter every bill in QuickBooks as it arrives with due date and payment terms.
Weekly Payment Runs
Batch payments weekly. Review bills due in the next 7-10 days, prioritize, and process.
Early Payment Discounts
2/10 Net 30 means 2% discount for paying within 10 days. On $10,000, that’s $200 saved.
Communicate Proactively
If cash is tight, call the vendor. Silence is worse than a conversation about timing.
Integration with Bookkeeping
AP tracking is built into monthly bookkeeping — bills entered as received, payments recorded, aging reviewed during close.
Disclaimer: The information provided is for general educational purposes only and does not constitute tax, legal, or investment advice. This content is not intended or written to be used, and cannot be used, for the purpose of avoiding penalties under the Internal Revenue Code. Tax outcomes depend on your specific facts and circumstances. Viewing this material does not create a CPA-client relationship. Personalized advice is provided only through a signed engagement letter.
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