There are several main types of business cash management:
- Accounts Receivable Management: Managing customer invoices and managing customer payments.
- Accounts Payable Management: Managing outgoing payments and ensuring that bills are paid on time.
- Cash Flow Forecasting: Projecting future cash inflows and outflows to ensure that the business has enough cash to meet its obligations. The U.S. Bank cash flow tool provides a forecast of account balances up to 90 days ahead, as well as a 90-day historical view, giving businesses important information to help plan for the future.
- Working Capital Management: Managing the cash required to run day-to-day operations. This can involve monitoring inventory levels, managing accounts receivable and accounts payable, and controlling expenses.