You also need to stay on top of Accounts Payable (A/P).
A couple of questions…
- Do you like it when your clients don’t pay you on time or when you have to chase them down to get that payment?
- Does that history make you less likely to provide above and beyond service the next time they are in a bind?
That’s how your vendors feel when you don’t pay them on time. This needs to be a scheduled priority.
You also don’t want late fees. That’s the A/P equivalent of an unsportsmanlike conduct penalty for celebrating too much after a touchdown. Just wasteful.
Pay your bills. Pay them ontime.