When paying the bills on a cash-flow strapped business in which order should the bills be paid?

PLEASE FOLLOW THE FOLLWOING SEQUENCE WISE IN MAKING PAYMENTS 1) ALL TAXES 2) UTILITY BILLS 3) THEN TOP 10 SUPPLIERS DEAR IT IS A LENTHLY ANSWER this is another easy one. Phone and hydro can get stretched, ad companies will let you go 90 days before whining; mom and pop landlords are great if you pay the balance of your rent due before the 15th of the month. Next is order of important suppliers.

Figure out which supplier you can live without and order hoards of product from them. It fills your inventory all the meanwhile your paying your other suppliers on time and hanging in there. Give the supplier you plan on dumping 4 equal post dated cheques dated 90 days apart starting from 30 days you originally got the product.(yes, stretch payment for 1 full year - they'll accept it) Fax them a very apologetic note saying your on the verge of bankrupcy and the money will be there on the dates of your cheques.

Make sure it is too! They won't sue you Communicate with your bank officer regularly. If he or she likes you they'll call you when your about to bounce a few cheques.

Ive had banks in my start up days hold me to 10K in overdraft (when I had $0.00 overdraft protection) 2 weeks before Xmas because I bought too much inventory. The account was brought up to par just before xmas eve. Guess what?

They helped me again once or twice in the future because I stuck to my word Keep applying for new credit cards and always pay the minimum payment + 20%. Manage to pay them off and regulary ask for increases.(right after you pay the card off) Run you card through your own Visa machine and use the money as cash...when you have enough cash in your account refund you credit cards through you machine. (avoids getting nailed the extra percentage merchants are charged) 10 years and a few million bucks later, those were the best days also, only take advise from people who've done it better than you!

Answer And always pay the IRS and State government on time. I always say the first three rules of accounting are: debits on the left, credits on the right and don't mess with the IRS.

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