Register now or log in to join your professional community.
There is before that the solution of contracting the receivables to be financed by a factor company. (Like Solifac in Lebanon).. They finance on spot80% the value of an invoice due after1 month.. As for payments, it depends.. I've been to a large hospital where stalling a supplier could have caused electricity cuts since that supplier supplied fuel for the generator!! In general:1st) State payments are not to be delayed whatsoever (VAT most dangerous, NSSF cotisations, other taxes),2nd: Pay suppliers of merchandise when they call asking for payment, pay them immediately if they threaten to stop providing (601 accounts)..3) other charges (626 accounts ) can be stalled over and over but not the point that threatens a vital service.4th) Salaries (631 accounts): I've been to a company where employees are willingly accepting payment delays of up to5 months. They can be more patient since they want to keep the company going for a while till they receive their salaries.. Of course the nature of the company and on sport circumstances can play a role. But never ever delay state payments. Finally: As much as unprofessional it sounds: PRAY TO JESUS!! That payments happen and sales increase!