Your accounts payable is the amount your business owes by buying products or services on credit. This would also include salaries and wages owed to employees, interest and any individuals or organizations with whom you have established loans or mortgages.

Tracking your bills and knowing when they are due may help you take advantage of discounts. This will help you optimize your cash flow. While, not paying your bills on time may result is penalties or being denied much needed products or services to run your business. You can also track your expenses by categories, which will help you identify how much you are spending on any particular product or service and if changes should be implemented.

CMG Bookkeeping will manage your accounts payable to maximize savings and cash flow and minimize additional expenses to your company.

Interested in our bookkeeping services? Request a consultation!