Don’t be late!Jul 14, 2021
Whether you run a business or just manage your own, you must have a good grasp of your obligations and liabilities so you can plan and pay them on time. You need to keep good records, budget, and manage your cash flow to make sure that you can pay when they are due. This is crucial when you own your business because aside from your financial records must be updated, you also need to make sure that you have enough liquid assets on hand for any liabilities that you may incur.
Here are some simple tips that will help you not get into debt because of late payments:
Make a list.
Everything starts with a list. Make a list of all of your bills. It is easier and quicker to keep up with bills when you know what to pay for and when to pay for it.
Create bill-paying spaces.
It’s easier to remember your bills when you can locate them easily. Set aside dedicated spots, either hard copy or digital. For your dues so that you can get to them quickly when the due date is near, you can check the previous payments that you have made. That way, you get to keep track of all your past payments as well as keep track of your other payables.
Review your due dates.
With so many types of bills you need to pay, it’s hard to keep track of all the different due dates, so make sure that you regularly review your due dates and mark them on your calendar so you never forget them.
Bills are always difficult for everyone, and there may be times when cash flow is tight and paying them on time may be difficult. To avoid that, contact us here at Stream Accounting so that we can help you manage. That way, you’ll never be late in paying your bills ever again!
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