Payment Handling

[Aakash]

When it comes to the payment to the suppliers, I often face problem because the payment is to be made by cheque which has to be signed by two of our directors. And most of the time they do not have idea which party has to be paid with higher priority within certain time limit. They just say like "their payment will be made after certain days". And again, after those certain days they repeat the same. Is there any solution to this problem?

How could I make them realize certain parties are with the higher priorities of payment and how to make payment to the creditors smoother??

Is there any software with which I could record the creditors, prioritize them and inform the directors at the same time through that software or at least retrieve a statement of creditors with varieties of priorities??

Thanks

Your help would be appreciated.

 

[kirby]

Sounds like the directors are reluctant to make payment. You must assume they have good reason for this reluctance. Perhaps poor cash flow in your company. I would not press them on this issue.