How to Manage Accounts Payables Better

Coming out of Denial

It is discouraging to look at a long list of vendors to which your firm owes money and not know how and when they are going to get paid. No matter how big the list and the amounts owed, ignoring the issue of past-due payables is only going to make matters worse. This chapter’s objective is to help you come up with a game plan to manage more effectively—and ­eventually reduce and eliminate—your payables in a manner that allows you to increase your cash flow. This strategy buys you the time you need to make other necessary changes in your firm that, over time, help you reduce your payables ...

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