Small Business Community Bank of America

My father wants to get details about Cash Flow Cycle of Small Business Community of Bank of America. So is there anybody who will tell me about Cash Flow Cycle of Small Business Community?

[Rohit Barla]

As you are looking to get information about Cash Flow Cycle of Small Business Community of Bank of America, so here I am providing following information:

Bank of America Cash Flow Cycle of Small Business Community
Inventory
Keep accounting up to date
Maximize raw materials
Reduce excess stock
Manage inventory levels
Maintain plants or office buildings
Rent vs. buy equipment and vehicles
Ensure you have reliable suppliers

Managing Receivables (Cash In)
Invoice oen and accurately
Set payment terms
Collect debt
Offer easy ways to pay
Accept as many cards as you can
Embrace mobile payments
Accept electronic payments (ACH & EFT)
Establish customer relationships
Collect part of your payment upfront
Make deposits daily
Offer discounts for early payment
Set a payment-terms policy and enforce it

Cash On Hand
Maximize the cash you have received
Maintain liquidity
Cover operational costs
Handle surplus cash wisely
Business bank account = regular access + earned interest
Consider investing for the long term

Managing Payables (Cash Out)
Strategize and plan
Choose the right vendors
Control who has purchasing power
Use credit card for flexibility
Pay taxes, loans and dividends to shareholders
Set up payment schedules
Reconcile daily
Stretch payments
Make foreign payments in local currency

Contacts
General servicing questions
888.BUSINESS (888.287.4637)
Mon.–Fri. 7 a.m.–10 p.m. ET
Sat. 7 a.m.–7 p.m. ET

Online Banking support
866.758.5972
Mon.–Fri. 7 a.m.–10 p.m. ET
Sat. 7 a.m.–7 p.m. ET

Intuit® Online Payroll support
888.606.4545
Mon.–Fri. 9 a.m.–9 p.m. ET

Remote Deposit Online support
877.270.1242
Mon.–Fri. 8 a.m.–8 p.m. ET

Merchant Services support
800.430.7161
24/7