HOW TO INCREASE YOUR CASH FLOW
For most companies, accelerating receipts to make cash available
quickly may be far more important financially than earning the
maximum interest on a disbursement float.
Their daily objective is to get all checks and payments processed
and cleared as immediately as possible in the company's bank
account. All checks should be taken care of promptly. The challenge
is to make employees realize the difference between big or
important checks requiring special attention and those that are
routine receipts.
Rather than keeping a check received after 3pm until the following
morning, it may be strategic for your cash flow to have an employee
attend to those checks and have them deposited that same
afternoon.
Likewise, if you can assign the mroning shift to bring checks as early
as the bank opens may save you a day in the float.
Become aware of your bank's check clearing policies and
procedures.
Work around those schedules. For distant customers bypass the
postal system by asking the customer to make a direct deposit.
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