Hello, I'm seeking input on the general schedule or guideline other companies follow when paying subs and suppliers. I am familiar with pay when paid, but should the rule be applied to all vendors or only subs? How do you keep cash flow in order when receivables can be between 60-80 days and some suppliers are demanding net 45 or net 30? Is it fair to pay all vendors (subs and suppliers) the same terms the GC is paying us? How do you navigate accounts going on hold or delays to deliveries? My goal is to determine a best practice to keep vendors happy, processing with a proactive (vs reactive) approach, but also keep cash flow in order. Thanks in advance for your input!
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Alexandria Hoffman
Accounts Payable Manager
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