Even if you are a cash basis taxpayer, if you extend credit to your customers, you should run your business’s financials on an accrual basis in order to get your company’s full financial picture. Your tax preparer can make the necessary adjustments at tax time to exclude any money you have not yet collected from your customers at year-end. If you notice this trend, you can adjust your collection practices, such as sending invoices right away or working with a debt collection agency. Prior to joining Ion Pacific, Kevin was a Vice President at Accordion Partners, a consulting firm that works with management teams at portfolio companies of leading private equity firms. If, however, Paulsen usually pays within 30 days, it would be prudent for Craig to reach out to them to determine why they are late paying now. For example, let’s say Craig’s Design and Landscaping https://www.street-f.net/author/burberry-outlet-online/page/4/..